This company looks like seeking new owners. Business stagnating n not much of new leads.

Smart Asia Chemicals Bhd seeks ACE Market listing to fund expansion
By Izzul Ikram / theedgemalaysia.com
07 Sep 2023, 06:32 pm
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KUALA LUMPUR (Sept 7): Industrial paint and coating maker Smart Asia Chemical Bhd plans to list on the ACE Market of Bursa Malaysia to fund the establishment of a new factory in Perak to quadruple its annual manufacturing capacity.
The company’s initial public offering (IPO) will involve the issuance of 93.5 million shares, with 62.91 million shares or 67.28% allocated under the institutional offering and 30.59 million shares or 32.72% for the retail offering, according to its draft prospectus exposure released on Bursa Malaysia on Tuesday.
By way of private placement, 46.23 million shares are earmarked for Bumiputera investors as approved by the Ministry of Investment, Trade and Industry, while another 16.68 million are for selected investors.

Under the retail offering, 18.49 million shares would be made available to the Malaysian public, followed by 12.1 million shares for eligible directors, employees and persons who have contributed to the success of the group.
Proceeds garnered from the listing exercise are to be used to establish the new plant in Perak, purchase accompanying equipment, fund working capital, as well as defray the listing exercise expenses.
Smart Asia said the new plant is expected to increase its annual manufacturing capacity for decorative paints and protective coatings by 27 million litres or 309.99% to 35.71 million litres, from 8.71 million litres in the financial year ended Dec 31, 2022 (FY2022).
“Our Perak plant will also allow us to expand our customer base within the central and northern regions of [Peninsular] Malaysia due to closer proximity to our customers,” the company added.
For FY2022, Smart Asia posted a profit after tax (PAT) of RM8.61 million, down from RM10.69 million for FY2021. It logged a PAT of RM7.44 million for FY2020.
Its top line was largely flat at RM79.22 million for FY2022, when compared with the RM79.77 million achieved a year earlier. For FY2020, it posted a revenue of RM71.6 million.
The 93.5 million shares offered under the IPO represent 25.28% of the group’s expected enlarged share base of 369.85 million shares.
The IPO’s promoters, managing director Goh Chye Hin and his wife and non-independent executive director Kee Hui Lang, are expected to have their direct stakes in the company pared to 44.5% for Goh and 7.51% for Kee.
Based on Smart Asia's current share base of 276.35 million shares, Goh currently owns a 59.55% stake in the company, while Kee owns 10.05%.
Meanwhile, the 3.62% indirect stake they hold via their children is expected to be diluted to 2.7%.
Mercury Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO.
Edited ByS Kanagaraju
Leaderboard-

buy ?

by default can have a look at

looks interesting

when can apply?

this one look good

can consider also, with construction on an uptrend
this supporting industry shoiuld be okay.

This post has been edited by IPO ADDICT: May 22 2024, 05:55 AM

Net margin is pretty good ..... another good target to grab some .

I like this IPO

#256

This post has been edited by froz3nnoob: May 4 2024, 01:02 AM

Any TP?

Ipo utilization and latest FYE2023

Solid numberssssss

let me be the 1st person to report, my number is 320

huat arggghhhhhhhhhhhhhhhhhhh

hrmm sorry i took your first person to report here

Still got a week to apply gogogogogo

i think tp 0.70 cts

huat argggggghhhhhhhhhhhhhhhhhhhhhhhhh

mkt very very hot again

Can ah? can only choose 1 to apply . Smart or Kawan ?

i apply both...

Why can only apply one ?

bo lui ....

RHB RM0.52 (29%)

walawey thats a good TP. 👍👍

Normally buy how much ya? I am new to IPO

got duit buy more.... got they won't give u all

the more u apply, the less people apply, the more chance of getting

Depends on how much money you got. If you’re confident with particular IPO, better go for higher tier. Less competition.
Example like feytech below

Kasi hantam Tier 17 !!!!

TA RM0.54 (35%)

1967

Oh.. ic.. got it.. haha.. very new so i hentam sikit sikit.. test water first.. thanks all for sharing here.. learn a lot here and there 🫡🫡

Another good TP ..

#4252

looks like I won't be able to pump this one, closes today and refund from feytech only happens later in the evening.

typically no enough funds lo

#5256

Tq for sharing ref no.

I hope to get this smart asia good ipo, heard many not apply cause fund stuck in feytech which i did not enrol.Not many people apply this smart ipo.tq

This post has been edited by tomjason: May 13 2024, 02:22 PM

# 5895

11.51am

1:08pm #6544

1430 @ 7291

MBB
Transaction Date: 13 May 2024 14:51:15
IPO Reference Number : 0007535

0007770

7996

mbb ada potential tak refund malam ni? tunggu feytech hahaha

8376

8409 16:02:04

Done applied ref 8534 , Hope to get.

8784

#8820

9025

Construction sector expands 14.2% to RM36.8b in 1Q — DOSM

OKLA THIS ONE boomb boomb

So far mine if failed, usually later around 8pm same day already refunded

HURRYYYY. UPPPP

1 MORE MINUTE

This post has been edited by IPO ADDICT: May 13 2024, 04:59 PM

ill go for KAWAN all in la. no peluru for SAC

Even got peluru, I prefer kawan. Haha.

hmmm.....so dull now
let make it jovial & happening

Start guesing game ...how many OVER SUBSCRIBED this SMART ASIA IPO ?

Mine IPO ADDICT 30 X

1st PRIZE >> RM 10



This post has been edited by IPO ADDICT: May 16 2024, 05:48 PM

Smart Asia Chemical shares oversubscribed by 33.8 times ahead of ACE Market listing

https://theedgemalaysia.com/node/711832



This post has been edited by ^bAbym310n^: May 16 2024, 04:17 PM

mine 30 X

I won
just kidding

This post has been edited by IPO ADDICT: May 16 2024, 05:47 PM

Still got 100 units alloted..pity

Share rm40, trading cost rm9++ and application fee rm1 to 2. Who is those apply like this? 563 apply below 900 unit.

This post has been edited by tnang: May 16 2024, 06:28 PM

most of these need to be educated on how the tier system works

Smart Asia with very less no of shares.... OS, 30 ++ , easily cornered / Golengg
....
Smart got big potential.....60 - 80 sen with in reach

still promising IPO lately esp Champion Chilli IPO Farm ... ( iBTW Sinkung too Not Bad )

huat Chaii

This post has been edited by IPO ADDICT: May 16 2024, 06:08 PM

Affin result out.
Didn't get any share

MBB is out..got abit

congrats those allocated

small time players

so fast..mine still pending in mbb

I just got full amount refund to my account. So sad i failed this ipo

m2u waiting list

MBB unsuccessful

At 7.55pm, mbb still pending.

congratulations

huat ahhhhhhh

opening at 0.60cts
huat leow lah

This post has been edited by pileepalah: May 17 2024, 08:29 PM

What to huat, sangkut money shj. Slim chance

Fail to get allocation… but this IPO can huat

results out..no luck for this one

MBB unsuccessful too.. Too bad. Hope will get Kawan.

Mine still show pending..wtf..

is this normal?

Mine till now also pending. Slim chance

This post has been edited by tnang: May 20 2024, 11:01 PM

Reserve list...

But history have shown...

Ain't going get any allocation.... Just wait for full refund

SMART ASIA CHEMICAL BHD 0.40 28 May 2024 93,500,000 18,492,600

so small offering IPO >> easily can cornwews & Goleng liao

RM 1.00 + no problem and can't rule out to hit RM 1.50

This post has been edited by IPO ADDICT: May 21 2024, 11:07 PM

Lol. Not gonna reach RM1.00. Stop la aladdin giving stupid predictions

..... ..

This post has been edited by IPO ADDICT: May 23 2024, 07:03 AM

PAT & ROE around 10 %
A Very POTENTIAL $$$ Company

IPO fund will be used to EXPAND BUSINESS

1.Construction of Perak Plant: 42.78%
2.Purchase and commissioning of automated paint production system: 29.41%
3.Purchase of 250 sets of Smart Colour POS Tinting Machine: 13.37%

Shariah compliance

hmmm....Micro Economics 101 >> Demand / Supply ( Market Forces )
with small IPO offering - infact among the smallest IPO - easy to be cornered / manipulated

oso thanks to IPO madness sentiment again lately

" ALL the BEST $$$$$ " my frens

This post has been edited by IPO ADDICT: May 22 2024, 07:09 AM

going to break thru floor, glass and the roof

you wait and see.....Smart paint can used for wall, metal , spray , floor and even roof

very smart list at the right time

93,500,000 18,492,600
what are these 2 qty?

Huarttt Chaiii my fren

NO SWEAT RM 1.00 +....even may hit RM 1.50

FYI ( just academic exercise )...
Limit Up = 40 sen x5 = RM 2.00

This post has been edited by IPO ADDICT: May 23 2024, 04:05 PM

Calling Tanjung Rambutan ....

Aiyakk..pancut awai😆

Please hold your breath...think GOD al Mighty ( or your beloved Grandma ,,hmmm )

This hopefully will avoid / deter you from CLIMAX ( sold) at the very first second ( not even a minute )
when the Smart Asia Chairman knock the opening Gong....

In stock trading / IPO too...better learn on how to control our emotion

Keep KOOL & steady

This post has been edited by IPO ADDICT: May 23 2024, 04:18 PM

Which is it now ? The Good, The Bad or The Ugly ?

Caiyok!🫰