Latest news with #RM41.4
New Straits Times
25-04-2025
- Automotive
- New Straits Times
MSB Global to venture into EV space
KUALA LUMPUR: MSB Global Group Bhd plans to enter the electric vehicle market by introducing its own in-house branded electric vehicle (EV) charger. As Malaysia's transition from internal combustion engine vehicles to EVs gains traction, MSB Global managing director Datuk Ow Kee Foo said it aims to diversify its revenue streams and benefit from the anticipated growth in EV ownership here. Ow said the company plans to allocate RM840,000 or 3.14 per cent of its initial public offering (IPO) proceeds for its new in house branded EV charger. "Our group intends to market, trade and distribute our in-house branded EV charger. We target to launch our in-house branded EV charger by the second quarter of 2025. "Introducing our in-house branded charger will allow us to meet the rising demand for EV infrastructure and participate in the growth of the EV market in Malaysia," he told Business Times. Recently, MSB Global dropped 15 per cent on its ACE Market debut, closing at 17 sen, down from its IPO price of 20 sen per share. It is the sixth ACE Market listing since March to close below its IPO price. Investor demand during its IPO, which raised RM41.4 million, was also relatively weak with applications from retail investors totalling about six times the available shares for subscription. The company is allocating 22.58 per cent of the total proceeds from the public issue to buy new machinery and equipment, about 18.7 per cent for the construction of a new factory and warehouse, and another 3.14 per cent for its new in-house EV charger. MSB Global will also set aside 20.67 per cent for the repayment of bank borrowings, while the balance is for general working capital and to defray the listing expenses. Ow said the company believes Malaysia's automotive market is thriving, with a growing vehicle population driving strong demand for aftersales services, parts and components. As technological advancements and EV adoption gain momentum, he said the automotive aftermarket sector is expected to continue growing, although a shift to EVs may impact demand for certain traditional parts. "The market for automotive lubricants and fluids is also on the rise, driven by the high volume of passenger vehicles and frequent oil changes. "Overall, the automotive aftersales market in Malaysia presents a dynamic growth opportunity with a mix of traditional and evolving demands," he added.
Malay Mail
25-04-2025
- Business
- Malay Mail
Iskandar Malaysia hits record RM41.4b in investments for 2024, says PM Anwar
KUALA LUMPUR, April 25 — Iskandar Malaysia has recorded committed investments totalling RM41.4 billion in 2024, an 11 per cent increase compared to RM37.2 billion in 2023, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the value marks the highest achievement since Iskandar Malaysia was established. Realised investment value reached RM26.7 billion last year. Foreign investments amounted to RM36.1 billion while domestic investments totalled RM5.3 billion. 'In fact, this achievement proves that investor confidence in Iskandar Malaysia continues to grow,' he said in a post on Facebook yesterday. Anwar said he was informed of this matter during his chairing of the 34th meeting of the Members of Authority, Iskandar Regional Development Authority (IRDA), yesterday. In this regard, Anwar emphasised the importance of developing economic corridors such as Iskandar Malaysia to navigate the increasingly challenging and uncertain global economic and trade conditions. — Bernama
Barnama
24-04-2025
- Business
- Barnama
Iskandar Malaysia Records Committed Investments Of RM41.4 Bln In 2024
KUALA LUMPUR, April 24 (Bernama) -- Iskandar Malaysia has recorded committed investments totalling RM41.4 billion in 2024, an 11 per cent increase compared to RM37.2 billion in 2023, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the value marks the highest achievement since Iskandar Malaysia was established. "Realised investment value reached RM26.7 billion last year. Foreign investments amounted to RM36.1 billion while domestic investments totalled RM5.3 billion.
The Sun
24-04-2025
- Business
- The Sun
Iskandar Malaysia records committed investments of RM41.4b in 2024
KUALA LUMPUR: Iskandar Malaysia has recorded committed investments totalling RM41.4 billion in 2024, an 11 per cent increase compared to RM37.2 billion in 2023, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the value marks the highest achievement since Iskandar Malaysia was established. 'Realised investment value reached RM26.7 billion last year. Foreign investments amounted to RM36.1 billion while domestic investments totalled RM5.3 billion. 'In fact, this achievement proves that investor confidence in Iskandar Malaysia continues to grow,' he said in a post on Facebook today. Anwar said he was informed of this matter during his chairing of the 34th meeting of the Members of Authority, Iskandar Regional Development Authority (IRDA), today. In this regard, Anwar emphasised the importance of developing economic corridors such as Iskandar Malaysia to navigate the increasingly challenging and uncertain global economic and trade conditions.
Malaysian Reserve
22-04-2025
- Automotive
- Malaysian Reserve
MSB Global drops 15% on ACE Market debut
The IPO raises RM41m for the company MSB Global Group Bhd saw its shares fall 15% on its ACE Market debut on April 15, closing at 17 sen, down from its IPO price of 20 sen per share. The share price opened at 17 sen, fluctuated between 16.5 sen and 18 sen, and settled at 17 sen, with 63.85 million shares changing hands. Despite the dip, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended the day 0.38% higher. Investor interest during the IPO was relatively weak, with retail applications oversubscribed by only six times the available shares. The offering raised RM41.4 million for the company. 'Our debut on the ACE Market represents more than just a financial milestone, it's a strategic leap forward for our growth. 'With the capital raised, we will enhance our production infrastructure, broaden our product offerings and continue driving innovation in both the aftermarket automotive and emerging electric vehicle (EV) segment. 'We are grateful for the trust of our investors and the dedication of our team,' MSB Global's MD Datuk Ow Kee Foo said in a statement. The company plans to allocate 22.58% of the proceeds to purchase new machinery, 18.7% for the construction of a new factory and warehouse, and 3.14% for developing an in-house EV charger. The remainder will go towards repaying bank borrowings, working capital and listing expenses. MSB Global expects strong growth in Malaysia's aftermarket automotive industry, driven by an increasing vehicle population and rising demand for high-performance automotive parts and lubricants. With its well-established distribution network, the company aims to capitalise on the growing automotive lubricants and fluids market. M&A Securities acted as the principal advisor, sponsor and placement agent for the IPO. — TMR This article first appeared in The Malaysian Reserve weekly print edition
