expansion plans


Rubber glovemakers may benefit from latest US-China trade spat

KUCHING: Malaysia rubber glove manufacturers could be one of the beneficiaries in the latest trade spat between the US and China, analysts have projected in the latest rubber products sector update. According to Affin Hwang Investment Bank Bhd (Affin Hwang), rubber or plastic gloves are now on the new list of US$200 billion worth of […]

Takeda clears hurdle for US$b Shire deal

TOKYO, July 11 — Takeda Pharmaceutical Co cleared a hurdle for its US$62 billion (RM249 billion) acquisition of Shire Plc, receiving unconditional approval from the US Federal Trade Commission two months after sealing its biggest deal ever. The…

‘Numerous complaints’ about Grab over increased fares and commission fees, Singapore competition watchdog says

SINGAPORE, July 6 — The Competition and Consumer Commission of Singapore’s (CCCS) investigation into the merger between Grab and Uber found that the former had raised fares and commission rates here following its acquisition of Uber’s regional…

China’s Xiaomi says American ties to smooth US push amid trade tension

BEIJING, July 3 — China’s Xiaomi Corp is pressing ahead with plans to enter the United States next year, saying its US connections should help the consumer-focused smartphone maker skirt the political resistance met by some of its compatriot…

Car companies, parts makers urge US to abandon tariff plan

SOUTHFIELD, July 2 — Canadian auto parts maker Magna International Inc has joined a chorus of automotive companies urging the US not to impose tariffs on their products. The proposed tariffs would negatively affect both the US and Canada, cut…

Radiant Group targets continued expansion into South East Asia

KUCHING: Retail technology solutions provider Radiant Globaltech Bhd (Radiant) targets to continue expansion in SEA region with near term focus on the Indonesian market. Speaking at the IPO prospectus launch yesterday, Radiant Group’s managing director Paul Yap said that the group’s proposed listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) aimed […]

Radiant to raise RM29.5m from IPO

KUALA LUMPUR: Retail technology solutions provider Radiant Globaltech Bhd plans to raise RM29.5 million from its initial public offering (IPO) and expand in the Southeast Asia (SEA) region, in particular the Indonesian market.

Speaking at the IPO prospectus launch, Radiant group managing director Paul Yap Ban Foo said that the group’s proposed listing on the ACE Market of Bursa Malaysia Securities Bhd on July 24, aims to extend Radiant group’s regional footprint and raise funds to support its expansion plans.

“We are mindful of the economic growth and rapid urbanisation in SEA, which create a conducive environment for the retail sector. The anticipated conversion from manual systems to automated retail technology solutions presents growth opportunities for us,” he said in a statement.

Yap said it is armed with experience in Vietnam and Cambodia to continue its expansion plans in SEA region, with near term focus on Indonesia’s booming retail market.

“We also intend to aggressively pursue growth in our in-house retail software management solutions, namely AX Retail B2B Portal and AX Retail Consignment Portal, and leverage on our large customer base of hardware customers to cross-sell our software products. We aim to enhance operational efficiency, facilitate seamless retail management processes, and enable efficiency and transparency within the supply chain of retail clientele,” he said.

The group also plans to establish a regional sales support team to raise awareness and enhance sales for the group’s software products.

Radiant Group incorporated its Vietnam and Cambodia office in 2006 and 2013 respectively. Since then, the group has established a reputable track record, securing sales from Parkson Vietnam, Aeon Vietnam, and Aeon Cambodia, amongst others.

For the financial years ended Dec 31, 2015 (FY15) to 2017 (FY17), Radiant group’s revenue increased from RM66.4 million to RM80.8 million, while net profit grew RM6.3 million to RM7.1 million.

Radiant Group’s IPO entails the issuance of 128.1 million new shares at 23 sen per share, of which 11.0 million shares will be for application by the Malaysian public.

There would also be an offer for sale of 12.0 million existing shares allocated for private placement to select investors.

Of the total IPO proceeds of RM29.5 million to be raised, RM11.6 million would be utilised for business and capital expansion, RM3.0 million for the expansion of the group’s retail software business, while RM4.8 million is for working capital.

Additionally, RM6.6 million would be slated for the repayment of bank borrowings with remaining RM3.5 million applied towards defraying of listing expenses.

Alliance Investment Bank Bhd is the principal adviser, sponsor, sole underwriter, and placement agent for the IPO exercise.

Common Ground raises US$20m in Series A funding

KUALA LUMPUR, June 25 — Malaysia’s coworking industry leader, Common Ground, today announced it has raised a US$20 million Series A funding to fuel its regional expansion plans, triple its number of venues in Malaysia and advance its…

Green Packet share price down 5% on proposed rights issue

PETALING JAYA: Green Packet Bhd's share price fell 5% this morning after it proposed a renounceable rights issue exercise to raise up to RM52.57 million for its business expansion plans.

At 11.02am, Green Packet was trading at 38 sen with 3.49 million shares changing hands.

The group said the rights issue entails an issuance of up to 150.2 million rights shares on the basis of one rights share for every five existing shares held, together with up to 450.61 million warrants on the basis of three warrants for every one rights share subscribed.

Based on an indicative issue price of 35 sen per rights share, the gross proceeds from the proposed rights issue are expected to be as much as RM52.57 million.

Proceeds raised will be used for the purchase of trade equipment, future viable investment, working capital for media and digital services, fintech solutions and general working capital.

Comfort Gloves buys Perak land for RM13.22m

PETALING JAYA: Comfort Gloves Bhd is acquiring a piece of land measuring about 157,500 square metres in Kinta, Perak for RM13.22 million.

The company said its wholly owned subsidiary Comfort Rubber Gloves Industries Sdn Bhd had on June 22 entered into a sale and purchase agreement with Nestle Manufacturing (Malaysia) Sdn Bhd for the land purchase.

The purchase sum is to be satisfied in cash via internally generated funds.

Comfort Gloves said the proposed acquisition is in line with its future expansion plans and to take up more business opportunities.

Its shares gained 1.8% to close at 86 sen on 856,500 shares done.