Colform Group Berhad: Colform Makes Strong Debut on ACE Market of Bursa Malaysia with Premium of 11.11%

KUALA LUMPUR, MALAYSIA / ACCESS Newswire / February 9, 2025 / Colform Group Berhad ("Colform" or the "Group"), an established steel and building material specialist in East Malaysia, made its debut on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") today. The Company opened at RM0.40 per share, recording a 11.11% premium over its initial public offering ("IPO") price of RM0.360 per share.

Caption from L-R:
1. Eric Chong ?????
Head of Corporate Finance of Mercury Securities
2. Tan Vun Su ?????
Independent Non-Executive Director
3. Noor Ilienna Rahayu Binti Ibrahim
Independent Non-Executive Director
4. Kang Phui Ting ?????
Non-Independent Executive Director
5. Kang Ket Hung ?????
Managing Director
6. Kang Ah Hin ?????
Non-Independent Non-Executive Director
7. Kang Phui Yie ?????
Non-Independent Executive Director
8. Datuk Ir. Hj. Ali Ahmad Bin Hamid
Independent Non-Executive Chairman
9. Tan Kung Ming ?????
Independent Non-Executive Director
10. Chew Sing Guan?????
Managing Director of Mercury Securities

Colform is listed under the stock name "COLFORM" and stock code "0341".

With over 20 years of experience, Colform has solidified its role as a trusted partner, delivering end-to-end steel solutions to support Malaysia's construction development from concept to completion. Headquartered in Kota Kinabalu, Sabah, Colform's offerings span across various types of downstream steel products such as roofing sheets, wall claddings and IBS steel framing systems-providing cost-efficient, labor-saving solutions tailored to meet industry standards. Colform serves a diverse clientele, including government, commercial, and private sectors, embodying reliability and innovation in every project.

For the nine months ended 30 September 2024 (9MFY24), Colform recorded a gross profit of RM23.47 million, surpassing the full-year gross profit of RM21.02 million in FYE2023 despite a lower revenue of RM76.97 million compared to RM92.53 million in FYE2023. This improvement in gross profit reflects the Group's ability to optimise cost structures, enhance operational efficiencies, and focus on higher-margin products such as IBS steel framing systems.

Through disciplined cost management and production optimisation, Colform has successfully improved its profitability, demonstrating resilience in a dynamic market environment. The Group's emphasis on value-added steel solutions and strategic cost-saving measures has strengthened its position in the industry, ensuring sustainable growth moving forward.

Through its IPO, Colform successfully raised RM41.19 million. The proceeds are allocated to:

• RM9.00 million for setting up a new colour coil coating production line in Kota Kinabalu;

• RM4.50 million for constructing a new storage facility in Kota Kinabalu to enhance operational efficiency;

• RM5.10 million for expanding its market presence by establishing a branch and factory in Klang, Peninsular Malaysia;

• RM18.09 million for working capital purposes; and

• RM4.50 million for listing expenses.

Mr. Kang Ket Hung, Managing Director of Colform Group Berhad, commented, "Today's listing on the ACE Market is a monumental achievement for Colform Group Berhad. This milestone represents our dedication to delivering quality steel solutions and expanding our footprint across Malaysia. The funds raised from this IPO will enable us to strengthen our operations, enhance our product offerings, and explore new market opportunities. We are excited about the road ahead and remain committed to creating lasting value for our clients, stakeholders, and the construction industry."

He also added, "We would also like to express our sincere appreciation to Mercury Securities Sdn. Bhd. for their unwavering support as our Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent. The overwhelming response from investors is a reflection of the confidence placed in Colform's vision and potential. This trust inspires us to continue striving for excellence as we move forward under the leadership of our management team and the guidance of our Board of Directors."

The listing provides Colform with a robust platform to execute its growth strategy and capitalise on the rising demand for innovative and reliable steel solutions in the construction sector.

Mercury Securities Sdn Bhd is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for Colform Group Berhad.

About Colform Group Berhad

Colform Group Berhad ("Colform") is an established steel and building materials specialist with over 20 years of experience that specialising in manufacturing, processing and trading of steel products, Colform also provides supply and installation services including IBS steel framing systems as well as project management services for construction projects. Colform primarily serving customers in the construction industry in East Malaysia. With an extensive range of offerings, including roofing sheets, IBS steel framing systems, guardrails, and more, Colform provides comprehensive solutions tailored to the needs of the construction industry. Committed to quality, innovation, and sustainable growth, Colform has a strong track record in delivering robust, reliable steel solutions across government, commercial, and private projects.

For more information, visit https://www.colform.com.my/

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Colform Group Berhad

For more information, please contact:

Jazmin Wan
Email: [e-mail]

William Yeo
Email: [e-mail]

SOURCE: Colform Group Berhad

View the original press release on ACCESS Newswire