PETALING JAYA: Colform Group Bhd expects the construction, infrastructure and property development industry in Malaysia to stabilise and grow, moving forward.
In a filing with Bursa Malaysia, the company said this will be driven by infrastructure development, economic growth and continuous government initiatives.
“Therefore, the outlook of the downstream steel industry remains favourable in the medium to long term,” it said.
Colform will be listed on the ACE Market on Feb 10, 2025. The company is principally involved in the manufacturing, processing and trading of steel products, as well as trading of building materials.
For its third quarter ended Sept 30, 2024 (3Q24), Colform reported a net profit of RM4.3mil on revenue of RM30.49mil.
There are no comparative figures for the preceding corresponding quarter as no interim financial report was prepared for the comparative period.
Colform said its 3Q24 revenue was mainly derived from the manufacturing of downstream steel products and processing of steel coils segments, which contributed to RM15.30mil, representing 50.18% of the group’s total revenue.
Separately, Colform said it is maintaining its integrated business process within the value chain of the steel industry, starting from in-house steel processing activities and manufacturing operations, to producing downstream steel products and onward sales to customers.
“This is complemented by the trading business which enables the group to supply a wide range of downstream steel products and building materials to meet the diverse needs of the construction industry.
“Apart from the above, the group offers comprehensive and tailored solutions for customers through project management services covering design, supply and installation as well as civil engineering for building construction.”
Looking ahead, Colform said it will continue to pursue business expansion and growth opportunities, as well as diversification product offerings to enhance its sustainability and profitability in a competitive market.
“With a well-established history in the steel industry, the group has committed to be resilient in navigating economic cycles and market fluctuations over the years.
“This adaptability enables the group to effectively leverage its expertise and strengthen the industry standing as well as maintain long term business relationships with promising prospects.”
For its upcoming initial public offering (IPO), the company aims to raise RM41.19mil to expand its steel manufacturing and installation operations. Based on an IPO price of 36 sen per share, it will have a market capitalisation of RM216mil.
