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 Karex Berhad IPO (5247), World's largest condom maker

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TSdavinz18
post Feb 3 2013, 04:50 PM, updated 10y ago

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Karex Bhd, the world's largest condom maker, is planning to offer 67.5 million shares, or 25% of its enlarged capital, in its initial public offering (IPO) in a bid to expand further.

In its draft prospectus, the company said the IPO would comprise the issuance of 40.5 million new shares and 27 million shares offered for sale by its existing shareholders. The investing public is entitled to a tranche of 13.5 million new shares, representing 5% of the company.

Although it did not reveal how much it plans to raise, it will allocate 54% of the proceeds for capital expenditure to expand its operational facilities, involving the construction of new buildings and the expansion of manufacturing facilities for its subsidiaries, Innolatex (Thailand) Ltd and Innolatex Sdn Bhd.

Five per cent has been earmarked for research and development to expand its product range, 32.7% for working capital and the balance for listing expenses.

RHB Investment Bank Bhd is the principal adviser for the IPO, while ZJ Advisory Sdn Bhd is the financial adviser.

For its financial year ended Dec 31, 2012, the company posted RM12.01mil in net profit on revenue of RM188.75mil. That compares with the 2011 net profit of RM6.98mil and revenue of RM181.75mil.

With an annual production capacity of about three billion pieces, its global market sales cover more than 110 countries.

“According to Infobusiness' independent market research report on the strategic and competitive analysis of the global condom industry, our leading position is further reflected by our export market share of 59.5% (export volume from Malaysia of approximately 6.5 million kg) amongst condom manufacturers in Malaysia for the year 2011,” it said.

Its products are sold via commercial, tender and original brand manufacturers (OBM) markets. In fiscal 2012, commercial, tender and OBM markets constituted approximately 56.9%, 39.3% and 3.8%, respectively, to the group's revenue.

The company believes that its prospects are favourable based on several factors such as growing demand and the non-existence of substitutes for its products.

“With the growing world population, the demand for condoms is expected to grow in tandem,” it said.

While it said there were several substitute products such as oral contraceptives and female condoms, condoms still remained a popular choice due to their economical and easy-to-use nature.

Initially known as Banrub, the company was founded by Goh Huang Chiat and his family when he decided to diversify into manufacturing of latex condoms.

Over the years it ventured into other businesses, including the manufacturing of sterile catheters, lubricating jelly and the setting up of a plant in Thailand.


Opening of application 11/10/2013
Closing of application 23/10/2013
Balloting of applications 25/10/2013
Allotment of IPO shares to successful applicants 04/11/2013
Tentative listing date 06/11/2013


This post has been edited by davinz18: Nov 15 2013, 11:12 PM
Bonescythe
post Feb 3 2013, 05:17 PM

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Durex not world's largest kah?
foofoosasa
post Feb 3 2013, 05:35 PM

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Never heard of ghis brand
hyzam1212
post Feb 3 2013, 06:09 PM

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It is the largest in term of production but get beaten here by durex as the premium brand
MatXSelamat
post Feb 4 2013, 02:08 AM

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I though Pleasure Latex is larger than Karex. Rupanya Karex is the big boss for dom2.

Karex is a sound company based in Pontian and if the valuation is reasonable, worthwhile to take a look. Not many Malaysian company can thrive in world marketplace. Latex products is one of the industry dominated by Malaysian company.

For Karex to grow, they should be more aggressive in acquisition since currently there are way too many condom player around.
river.sand
post Feb 4 2013, 08:32 AM

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What are the threats to condom makers?
I know Catholic Church is against contraception, hence the use of condom, and pills for that matter. How about Islam hmm.gif
asambuffett
post Feb 4 2013, 09:12 AM

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QUOTE(river.sand @ Feb 4 2013, 08:32 AM)
What are the threats to condom makers?
I know Catholic Church is against contraception, hence the use of condom, and pills for that matter. How about Islam  hmm.gif
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i think its ok in Islam since ive never heard its haram to wear a condom or to buy condom or to sell it.

N when is the listing date again?

This post has been edited by asambuffett: Feb 4 2013, 09:12 AM
Bonescythe
post Feb 4 2013, 10:50 AM

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The world had a higher weight for youth population, hence the market is there... As the new era youth is not like the old timers. Very da open..

So sex also very often practice freely..
TSdavinz18
post Feb 4 2013, 02:47 PM

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QUOTE(foofoosasa @ Feb 3 2013, 05:35 PM)
Never heard of ghis brand
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user posted image

user posted image

user posted image

user posted image

user posted image


Seen any of these in the shop smile.gif
TSdavinz18
post Feb 4 2013, 02:56 PM

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Karex's Pontian factory produces 2 Billion condoms a year. Other factory in Klang and Hatyai produces another 1 Billion comdoms. It also produces condoms for top global brands. It also has its own house brand, Carex, which is sold in more than 30 countries.
Bonescythe
post Feb 4 2013, 03:27 PM

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Maybe Durex buy from them..? And repackage it with a different marketing image.. biggrin.gif
TSdavinz18
post Feb 4 2013, 03:47 PM

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QUOTE(Bonescythe @ Feb 4 2013, 03:27 PM)
Maybe Durex buy from them..? And repackage it with a different marketing image.. biggrin.gif
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Maybe they do that. This company currently does some contract manufacturing for global condom brands.
MatXSelamat
post Feb 4 2013, 04:39 PM

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Durex produce in India...
TSdavinz18
post Feb 4 2013, 04:48 PM

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QUOTE(MatXSelamat @ Feb 4 2013, 04:39 PM)
Durex produce in India...
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oh ok. my mistake blush.gif


chrisw
post Feb 4 2013, 05:13 PM

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price?
TSdavinz18
post Feb 4 2013, 05:45 PM

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QUOTE(chrisw @ Feb 4 2013, 05:13 PM)
price?
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Unknown for now smile.gif
river.sand
post Feb 4 2013, 05:55 PM

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QUOTE(Bonescythe @ Feb 4 2013, 10:50 AM)
The world had a higher weight for youth population, hence the market is there... As the new era youth is not like the old timers. Very da open..

So sex also very often practice freely..
*
Let's see the potential for condom industry...

China - aging population (result of one-child policy)
India - young population (big potential here rclxms.gif )
Japan - aging population, and Japanese couples seldom make love (despite the fame of Japanese AV)
Indonesia, Vietnam - young population
Philippines - recently legalize condom (one Filipina woman is reported to have given birth to 22 children sweat.gif )
Europe - aging population
USA - relatively young population among industrialized world
Africa - young population, but many are pious Christians who don't use condom (the results: high birth rates and high HIV infection rates)

So, the potential is huge?
TSdavinz18
post Feb 4 2013, 06:23 PM

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QUOTE(river.sand @ Feb 4 2013, 05:55 PM)
Let's see the potential for condom industry...

China - aging population (result of one-child policy)
India - young population (big potential here  rclxms.gif )
Japan - aging population, and Japanese couples seldom make love (despite the fame of Japanese AV)
Indonesia, Vietnam - young population
Philippines - recently legalize condom (one Filipina woman is reported to have given birth to 22 children  sweat.gif )
Europe - aging population
USA - relatively young population among industrialized world
Africa - young population, but many are pious Christians who don't use condom (the results: high birth rates and high HIV infection rates)

So, the potential is huge?
*
don't forget our country Malaysia & also thailand(brows.gif). Vietnam also not forgetting brows.gif thumbup.gif
zamans98
post Feb 4 2013, 09:07 PM

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Based on my crystal ball, price is MYR2.20
GloryKnight
post Feb 4 2013, 10:30 PM

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QUOTE(river.sand @ Feb 4 2013, 05:55 PM)
Let's see the potential for condom industry...

China - aging population (result of one-child policy)
India - young population (big potential here  rclxms.gif )
Japan - aging population, and Japanese couples seldom make love (despite the fame of Japanese AV)
Indonesia, Vietnam - young population
Philippines - recently legalize condom (one Filipina woman is reported to have given birth to 22 children  sweat.gif )
Europe - aging population
USA - relatively young population among industrialized world
Africa - young population, but many are pious Christians who don't use condom (the results: high birth rates and high HIV infection rates)

So, the potential is huge?
*
I am doing brief economy analysis for asian countries. Till now most of the countries have a young population.

Philippines and Vietnam - VERY young population and free sex is rampant. Government have to curb by promoting protected sex.

Btw, since its just randomise countries, why not we ask around our fellow forumers here. Who here practise safe sex?

As a start, I dont do sex. So none.

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