Newly listed MyAxis Group Bhd is set to accelerate its growth plans with a new processing facility in Bukit Kayu Hitam, Kedah, which is expected to start contributing to revenue in the second quarter of the next financial year.
Executive Chairman Datuk Tan Hwa Sing said the facility, backed by a RM11.3 million investment, will significantly enhance the company’s operations as it is expected to double the poultry processing capacity to 708 tonnes, triple the red meat handling to 1,870 tonnes and increase the storage space more than tenfold to 566 tonnes.
“This marks a major milestone in scaling our operations and strengthening our nationwide reach,” Tan said during the company’s LEAP Market listing.
He also shared that the company plans to transition to the ACE Market within two years.
During the opening bell on June 30, MyAxis made its debut on Bursa Malaysia’s LEAP Market at 18 sen, a six-sen premium over its IPO price of 12 sen. At midday, the company is trading at 20 sen with 30,000 shares traded hand so far.
