Edelteq Realises RM3 Million Profit Before ACE Market Listing

Edelteq Holdings Berhad which is about to be listed on the ACE Market in June has released its Q1 financial result for the year recording a revenue of RM9.8 million and net profit of RM3 million.

This is the first interim financial report announced in compliance with the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad (“Bursa Securities”). There are no comparative figures for the preceding corresponding quarter as no interim financial report was prepared for the comparative quarter concerned.

Commenting on the results, Executive Director and Group Chief Executive Officer of Edelteq, Mr. Chin Yong Keong said, “We are delighted to announce an outstanding financial performance for the first quarter of FY2023. In terms of net profit, we have already realized more than half of last year’s full-year performance in this quarter alone. This affirms Edelteq’s resilience and robust competitive position. With the forthcoming IPO and the availability of funds, we are strategically positioned to execute our expansion plans and seize the promising growth opportunities within the semiconductor industry.”

“Moving forward, we are committed to executing strategic initiatives that position Edelteq as an industry leader. By delivering exceptional value to our customers, we are poised to foster sustainable growth and maximise long-term shareholder value,” Mr. Chin concluded.

Edelteq is scheduled to be listed on the ACE Market of Bursa Securities on Wednesday, 7 June 2023. Upon listing, Edelteq will have a market capitalisation of approximately RM127.8 million based on issue price of RM0.24 per share and the enlarged share capital of 532,535,630 shares.

UOB Kay Hian Securities (M) Sdn Bhd is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.

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