Hoe sets the tone for CUCKOO Malaysia’s next chapter as a trailblazing Healthy Home Creator, committed to reshaping lifestyles through innovation and purpose so that everyone can be #SAMASAMAHealthier in his visionary address at the Prospectus Launch.
As CUCKOO International (MAL) Bhd’s (CUCKOO Malaysia) seeks to expand its offering in both products and services to coincide with its listing on Bursa Malaysia Securities Bhd’s Main Market on April 30, applications for the company’s public issue will close on April 10 at 5pm.
It aims to raise RM184.8mil through its initial public offering (IPO), estimated to be priced at a maximum RM1.29 per share through the issuance of 143.28 million shares.
The listing will offer up to a 25.5% stake in the company and post-listing, CUCKOO Malaysia is expected to be valued at RM1.85bil, valued at P/E ratio of 21.2 times its earnings per share of 6.1 sen in the financial year ended Dec 31, 2023 (FY23).
It has aimed to apportion 56.7% of its IPO proceeds to fund product purchases to expand its rental business, 21.6% on bank borrowing repayments, 2.7% to open on its range of “brandshops”, 3.0% to upgrade IT systems; 5.4% to expand CUCKOO International (S) Pte Ltd, and the remainder to be utilised for listing-related expenses.
Non-independent executive director and chief executive officer Hoe Kian Choon said, “CUCKOOo Malaysia began with a clear vision to inspire everyone to be #SAMASAMAHealthier, which means empowering our customers to lead healthier and happier lifestyles.”
He explained that since the company’s incorporation in Malaysia in 2014, it has grown from distributing its CUCKOO-branded rice cookers and mild alkaline water purifier, which produces filtered water that meets the drinking water standards set by the World Health Organization.
“Over time, our offerings under the CUCKOO-branded segment have expanded to include a variety of home appliances and household goods,” he added.
The company then diversified into the Cuckcoo Co-Created business segment with its home appliances and household goods that were produced with business partners LSK, Fujiaire and Ogawa Malaysia.
(From second left to right) Hoe with CUCKOO Malaysia chief financial officer Bryan Yeong chief operating officer Toh Seng Lee and chief marketing officer Queenie Goh, with RHB Investment Bank Berhad regional head equity capital markets and syndication director Ankur Khandelwal discussed the in-depth perspectives on the company’s roadmap and future expansion plans.
It has also developed business segments WonderLab and WonderDewi, which produce skincare and nutritional food products, and the WonderKlean segment, offering home care services.
“The expansion of our business segments and offerings is guided by a dedicated focus on fostering a healthier lifestyle for our customers and fans and delivered by an effective business model that makes our growing holistic wellness ecosystem of solutions more accessible and affordable,” said Hoe. “We believe that this has led to the company’s rise to prominence over the years.”
He added that the company is today a trusted household name with a strong brand presence nationwide.
According to Frost & Sullivan GIC Malaysia Sdn Bhd, CUCKOO Malaysia is the second largest player in the rental industry for home appliances and household goods in Malaysia, based on the revenue for the financial year ending Dec 31, 2024 (FY24) with a market share estimated at 19.6%.
It is also the second largest player in the rental industry for home appliances and household goods in Malaysia, based on the number of active orders as of Dec 31, 2024, with a market share estimated at 23.1%. It is the market leader based on the number of outlets as at Feb 28, 2025.
“With the IPO proceeds, we aim to strengthen our market position by expanding our product and service offerings,” Hoe said. “The company intends to do this by increasing product SKUs and home care services to support growth within existing categories while reaching new customer segments.”
CUCKOO Malaysia showcases its holistic wellness ecosystem that covers four dynamic business segments: CUCKOO, CUCKOO Co-Created, WonderLab & WonderDewi and WonderKlean.
CUCKOO Malaysia also hopes to increase the cross-selling opportunities of its sales and service teams, enhancing its offline and online customer touchpoints, as well as expanding its CUCKOO sales team, Wonder Star team and CUCKOO+ Service Group.
RHB Investment Bank Berhad is the sole principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for the IPO; whilst AmInvestment Bank Berhad is the joint global coordinator, joint bookrunner and joint underwriter for the IPO.
