24-04-2025
- Business
- Malaysian Reserve
MyAxis Group eyes LEAP Market listing to raise RM5.3m for expansion
FROZEN meat and processed meat producer MyAxis Group Bhd is set to list on the LEAP Market of Bursa Malaysia, aiming to raise RM5.29 million through a private placement of 44.1 million new shares at 12 sen apiece, implying a market capitalisation of RM40.9 million upon listing.
The proceeds will be used to repay bank borrowings (RM3 million), purchase new machinery, support working capital, enhance branding and marketing, and cover listing expenses.
MyAxis, through its wholly owned subsidiary KK Fresh Frozen Sdn Bhd, supplies frozen and processed poultry and red meat products, primarily to F&B operators and retail markets.
It also plans to commence operations at a new halal-certified processing facility by August 2025, which will more than double its storage and processing capacity.
The group posted a strong rebound in earnings, with net profit rising to RM1.75 million in the six-month financial period ended March 2025, up from RM0.10 million a year earlier, driven by higher-margin processed meat sales.
Promoters Datuk Tan Hwa Sing and Khoo Lay Tatt will remain majority shareholders post-listing, with 90% and 10% stakes respectively.
Looking ahead, MyAxis intends to pursue industry certifications including Halal, MESTI, GMP, HACCP, and VHM, and expand its processed meat line to capture growing demand in Malaysia and the broader halal food segment.
ZICO Evolve Capital Sdn Bhd is the approved adviser for the IPO. –TMR
