PETALING JAYA: ACE Market-bound Ambest Group Bhd believes the Malaysian machinery and equipment (M&E) industry is poised for continued expansion, driven by the growth of end-user markets within the broader manufacturing sector.
Citing an Independent Market Research Report on the engineering supporting industry in Malaysia by Protege Associates Sdn Bhd, Ambest noted that as manufacturing activities intensify, investments are expected to increase in enhancing and expanding production capacities.
“This, in turn, will drive up demand for M&E solutions in Malaysia, supporting the industry’s growth trajectory,” said the company.
Ambest is principally involved in providing precision machining services, as well as sub-modular assembly and surface finishing treatment services.
In its prospectus exposure, released last week, the company said its initial public offering (IPO) will comprise the public issue of 110 million new ordinary shares.
It said 25.5 million shares will be available for application by the Malaysian public; 12.75 million shares will be for eligible directors and eligible employees; 63.75 million shares will be made available by way of private placement to Bumiputera investors approved by the Investment, Trade and Industry Ministry; and eight million shares will be available by way of private placement to selected investors.
Additionally, Ambest said it intends to invest and purchase new M&E using its IPO proceeds, which will be placed in its Facility 42A.
The company added that it will be utilising Facility 42A to store raw materials, packing materials, finished goods, as well as three computer numerical control (CNC) milling machines (pending maintenance and installation).
“We intend to add an additional storey to a part of the building to increase the built-up area of the building from approximately 2,010 sq m to 2,910 sq m.
“This will enable us to expand our manufacturing area and accommodate additional machinery and equipment to expand our production capacity and capabilities.
“We also intend to construct a new cleanroom in Facility 42A.
“Our group currently has a cleanroom divided into two sections, Class 10,000 and Class 100,000 in Facility No 9 and Office and Factory No 11.”
“Our business is reliant on the efficient and smooth running of our manufacturing operations, which are supported by our workforce and a range of machinery and equipment such as CNC milling, CNC turning and CNC turn-milling machines,” Ambest added.
