Kucingko makes stellar debut on ACE Market

From left: Kucingko independent non-executive chairman Lim Chor Gee, independent non-executive director Elaine Law Soh Ying, Kenanga Investment Bank Bhd head of group investment banking and Islamic banking Datuk Roslan Hj Tik, Kucingko executive director Ooi Kok Hong, executive director See Chin Joo, independent non-executive director Puar Chin Jong, non-independent non-executive director Ku Chia Loon, independent non-executive director Quah Bee Fong.

PETALING JAYA: Kucingko Bhd made a sterling debut on the ACE Market of Bursa Malaysia with its shares closing 90% or 27 sen higher at 57 sen at close on its maiden trading day.

The 2D animation studio service provider’s share hit a high of 84 sen and low of 56 sen in intraday trade.

At the close, Kucingko’s market capitalisation hit RM285mil.

The company raised RM30mil from its listing exercise.

The company will be looking at capacity expansion by setting up production branch offices in Sabah and Sarawak and a sales office in the United States with the money raised.

Kucingko specialises in providing high quality 2D animation production for global broadcasters and streaming platforms and is one of the largest animation production companies in Malaysia.

The studio has earned significant recognitions globally, including a British Academy of Film and Television Arts nomination and several other international awards.

“The funds raised will enable us to invest in building capacity locally and deepening our presence in the North American market, ensuring that we remain at the forefront of the animation industry,” executive director See Chin Joo said in a statement.

The company posted a net profit of RM1.76mil or an earnings per share of 0.44 sen on revenue of RM7.06mil for the first quarter ended March 31, 2024.

It attributed its revenue to its 2D animation production segment, with the North American region being the largest contributor to its revenue at 76.44% or RM5.4mil.