From left: Tan Yiing Fung, Independent Non-Executive Director, Camaroe; Kho Zhen Qi, Independent Non-Executive Director; Seah Cheong Wei, Independent Non-Executive Director; Low Saw Cheng, Executive Director; Teoh Han Boon, Managing Director; Datuk Zainal Azman Abu Seman , Independent Non-Executive Chairman; Datuk Bill Tan, Managing Director, Corporate Finance, M & A Securities; Datuk Sri Chee Hong Leong; Executive Director of M & A Equity Holdings Bhd; Danny Wong, Deputy Head of Corporate Finance, M & A Securities
KUALA LUMPUR: ACE Market debutant Camaroe Bhd is setting its sights on capacity expansion and international growth, especially in China, following its successful listing.
At 9 am, the company made its debut on the ACE Market of Bursa Malaysia at 16 sen, a premium of 2 sen over its IPO price of 14 sen, with 22.04 million shares traded.
Managing director Teoh Han Boon said the group will remain focused on building and expanding its capacity with a new plant in Bukit Raja, as well as strengthening its in-house biotechnology department.
"We remain focused on China’s market, where we continue to see increasing demand. From market surveys and industry trends, we foresee demand for black tiger prawns rising significantly, particularly from inland China,” he said during a virtual press conference on the company’s listing today.
Founded in 2009, Camaroe operates multiple coastal farms and a processing facility in Kapar, Selangor, specialising in supplying live and frozen black tiger prawns to local wholesalers and international buyers.
Commenting on the company’s current capacity and expansion plans, Teoh said the group’s processing capacity at its Kapar plant is about 683 metric tonnes (MT) per year, and the new expansion of the plant in Bukit Raja is expected to increase its capacity to 1,500 MT per annum.
On his expectations for Budget 2026, Teoh expressed hope that the government will provide stronger support for the aquaculture and fisheries sector through more incentives, including extended tax exemptions for eligible farmers.
"In addition, we hope the government will consider removing the sales and service tax on farming products. I believe most of the industry players share the same view,” he said. - Bernama
