NPG aims for SGX listing


(seated, from left) Chua, Pang, and Chan with their respective agreement documents, together with (back row, from left) Elyne Choo and Koong law firm legal advisor Alex Choo, Azmir and MCI advisor Damon Chan during NPG’s pre-IPO official engagement agreement signing ceremony held at CCEC in Kuala Lumpur.

KUALA LUMPUR: Award-winning insurance agency Norman Pang Group (NPG) is targeting to be listed on the Singapore Exchange (SGX) by March next year.

NPG signed a pre-initial public offering (pre-IPO) agreement with Singapore-based Evolve Capital Advisory and MCI Capital for its upcoming listing exercise.

NPG founder and chairman Datuk Sri Norman Pang signed the engagement agreement on behalf of the insurance company. Evolve Capital Advisory was represented by its managing partner and chief executive officer Jerry Chua while MCI Capital Sdn Bhd chairman Cannis Chan acted on behalf of the private equity firm. National Film Development Corporation (Finas) chief executive officer Datuk Azmir Saifuddin Mutalib witnessed the ceremony.

“We are proud to announce the engagement with Evolve Capital Advisory, a leading boutique investment bank in Singapore focused on growth enterprises across Southeast Asia, and with an extensive track record being NPG’s Catalist Full Sponsor for public offerings on SGX, and MCI Capital, who will assist us in driving forward our aspiration and turn it into reality,” said Pang in his speech during an event held at the Nexus Connexion Conference and Event Centre (CCEC) here.

At the same event, MCI Capital launched the Asia IPO Fund, a dynamic capital fund which catalyses growth and development across multiple sectors, particularly the capital market. With a fund size reaching up to RM250mil, the Asia IPO Fund represents a significant milestone in NPG's strategic roadmap, a significant portion of which will go towards assisting Malaysia’s small and medium enterprises (SMEs), especially the pre-IPO of NPG, to grow their businesses and set them on a path towards IPO.

Additionally, NPG has also expressed its commitment towards significant investments to bolster local film production efforts and promote local talents on a global scale.

To achieve its goals, NPG is collaborating with Finas to invest in the local entertainment industry, with the primary target of investments being film productions and distributions. These initiatives reflect NPG's dedication to elevating Malaysia's cultural footprint.

A substantial portion of the fund, amounting up to RM25mil, has been earmarked for investments in the local entertainment industry. These investments encompass a spectrum of initiatives, including film production, distribution, and related ventures, highlighting NPG's commitment to fostering growth and innovation within the Malaysian entertainment ecosystem.

“At Finas, we welcome collaborations with all companies, big or small, local or international,” said Azmir, commending NPG’s commitment to invest in local films.

“This investment signifies a reinvigorated focus on elevating the Malaysian entertainment industry, which conforms to Finas’ mission of spurring domestic growth of the industry at home, as well as its international visibility.”

NPG's rise to prominence within Malaysia's insurance sphere has been nothing but phenomenal. Bolstered by a record-breaking first-year premium collection of RM63.4mil last year and a formidable workforce comprising over 380 registered and contracted agents, NPG has solidified its position as an industry leader since the agency began in 2016 with only six agents.

As the 10th consecutive Champion Agency in Allianz Malaysia, NPG has broken numerous records and has been awarded Namlifa Mega Million Dollar Agency eight times. Since setting up its S.M.A.R.T system in 2015, it have provided an energised environment with unlimited growth opportunities, dedicated to helping every individual in its agency attain a better life.

Looking forward, NPG has charted an ambitious goal. Pang shared, “We are targeting a year-on-year growth of 10%.

“We are also setting our sights on reaching a first-year premium collection of RM80mil, proof of our commitment to expanding our reach and impact in the insurance industry.”

To fuel this growth, NPG plans to recruit 200 new agents and increase its count of Million Dollar Round Table (MDRT) achievers to 80, surpassing its previous record of 66 MDRTs achieved in 2023.

Commenting on NPG's pre-IPO announcement, Chua said, “Evolve Capital Advisory is pleased to be selected to act as the sponsor and issue manager for NPG, an exemplary home-grown insurance agency led by a visionary founder.

“Under Pang’s leadership, NPG is now at a pivotal growth stage, and we are pleased to kickstart NPG’s IPO listing process. This further reinforces our philosophy of bringing growth-oriented enterprises to the SGX Catalist platform.”

Pang also expressed optimism for the company's future trajectory, affirming NPG's steadfast commitment to not only become an inspiration to local businesses through its successes, but also help them to grow and emulate NPG’s achievements, contributing to a more robust and dynamic economy across various sectors in Malaysia.

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