American Marconi Wireless News - Guan Huat Seng Holdings Berhad Debuts on ACE Market of Bursa Securities

Guan Huat Seng Holdings Berhad is listed under the stock name "GHS" with the stock code 0387.

With the "Guan Huat Seng" brand existence tracing back to the 1930s and an established track record of approximately 46 years since the establishment of Guan Huat Seng (Heng Kee) Sdn. Bhd, GHS Holdings has grown from a traditional food retailer into a diversified distributor and retailer of food products, with in-house manufacturing capabilities. Through its subsidiaries Guan Huat Seng (Heng Kee) Sdn. Bhd. and GHS Food Industries Sdn. Bhd., the Group distributes and retails a wide range of food products including shelf-stable and frozen seafood, flavouring products, dried food and snacks and general grocery products, supported by in-house manufacturing of flavouring products which are certified Halal as well as HACCP and MeSTI certifications for the production of sauces, pastes, and dried seasoning powder.

Through its IPO, GHS Holdings raised RM30.00 million via the issuance of 120.0 million new shares at an issue price of RM0.25 per share. The proceeds will be utilised as follows:

• RM12.00 million to part finance the setup of a New Integrated Complex;

• RM9.00 million to part finance the setup of a New Krubong Facility;

• RM3.00 million for working capital;

• RM1.50 million for marketing expenses; and

• RM4.50 million for estimated listing expenses.

Mr. Yeo Tien Ee, Managing Director of Guan Huat Seng Holdings Berhad, commented: "Today's successful listing on the ACE Market is a defining moment in our evolution from a traditional food retailer into a diversified distributor and retailer of food products, with in-house manufacturing capabilities. The listing marks an important step that reinforces our strategic direction and operational strength. With the funds raised from the IPO, we will accelerate our expansion plans, increase production and storage capacity through our new facilities in Melaka, and strengthen our presence in both distribution and retail segments. We remain committed to building on our longstanding heritage while driving sustainable, long-term growth for our stakeholders."

Proceeds from the IPO will primarily be utilised for the setting up of a New Integrated Complex and New Krubong Facility in Melaka, alongside working capital, marketing expenses and listing-related expenses. Such proceeds are expected to enhance operational efficiency, support the Company's future growth, and further solidify its market position in Malaysia's growing distributive trade of F&B product industry.

TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.

ABOUT GUAN HUAT SENG HOLDINGS BERHAD

Guan Huat Seng Holdings Berhad ("GHS Holdings" or the "Company") is principally involved in the distribution and retail of food products, with more than four decades of established track record in Melaka, Malaysia. Through its subsidiaries Guan Huat Seng (Heng Kee) Sdn. Bhd. and GHS Food Industries Sdn. Bhd. ("Group"), the Group distributes and retails a wide range of food products including shelf-stable and frozen seafood, flavouring products, dried food and snacks, and general grocery products, and is supported by in-house manufacturing facilities. The Group holds HACCP and MeSTI certifications for the production of, among others, sauces, pastes and dried seasoning powder. Serving wholesalers, retailers, food service operators, end consumers and food manufacturers across both domestic and foreign markets, GHS Holdings is committed to enhancing operational efficiency, expanding its production and storage capacity through the construction of its New Integrated Complex and New Krubong Facility, and driving sustainable growth within Malaysia's distributive trade of food and beverage (F&B) product industry.

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Guan Huat Seng Holdings Berhad

For more information, please contact:

Jazmin Wan
Email: [email protected]

Renee Toh
Email: [email protected]

SOURCE: Guan Huat Seng Holdings Berhad

View the original press release on ACCESS Newswire

L.Durand--AMWN