ASM Automation makes ACE Market debut, eyes global expansion

From left: ASM Automation Group Bhd director Datuk Dr Thian Boon Chung, Eco Asia Capital Advisory Sdn Bhd managing director Kelvin Khoo, ASM Automation executive director Kamalam Kurup Krishnan, executive director Leong Weng Khin, chairperson Tengku Faizwa Tengku Razif, managing director Chan Kok Heng, M&A Equity Holdings Bhd managing director Datuk Bill Tan, M&A Securities Sdn Bhd corporate finance head Gary Ting, corporate finance deputy head Danny Wong, ASM Automation director Woo Ah Kek and director Jolene Lai Ooi Yoke at the listing ceremony of ASM Automation on the ACE Market of Bursa Malaysia.

KUALA LUMPUR: ACE Market debutant ASM Automation Group Bhd aims to drive future growth by expanding its presence and enhancing its automation machinery solutions in Malaysia and key international markets.

Managing director Chan Kok Heng said the group remains positive and confident, supported by the trust shown by the market and its investors.

"This is also a testament to the strength of our business model, proven track record, and strong potential in the automation machinery solutions industry.

"Moving forward, we will focus on delivering long-term value to shareholders by executing our growth strategy and maintaining our commitment to quality and innovation,” he said during a virtual post-listing press conference today.

At 9 am, the automation machinery solutions specialist made its debut on the ACE Market at 17 sen, unchanged from its offer price, with 57,293 shares traded.

ASM Automation said it will allocate RM11.40 million to construct a new factory, RM2.30 million to purchase machinery, equipment and components and customer engagement, RM2 million for design and development activities to enhance research and development capabilities, RM1.92 million for working capital and RM4.2 million for listing expenses. - Bernama