27/06/2025

BIZ & FINANCE FRIDAY | JUNE 27, 2025

/thesuntelegram FOLLOW / Malaysian Paper

ON TELEGRAM m RAM

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Pan Merchant prioritises emerging industries

Top Glove upbeat on demand growth, additional sales from US KUALA LUMPUR: Top Glove Corporation Bhd expects demand for gloves to grow with opportuni ties to capture additional sales from the United States when there is more clarity on issues surrounding US tariffs. It also said the tariff imposed by the US on China products is unlikely to be lower than Malaysia’s. Managing director Lim Cheong Guan said the group’s diverse portfolio is an advantage. It can offer a range to meet customers’ preferences and pricing require ments while acknowledging com petition in other regions. “The final tariff decision by the US government will provide much needed visibility for both manu facturers and customers,” he said in the group’s virtual results briefing for the third quarter ended May 31, 2025 yesterday. “Meanwhile, to mitigate the impact of US dollar volatility on profitability, we will maintain a consistent hedging policy on a month-to-month basis,” he said. Overall, Lim said the group has a positive outlook for the glove industry and is confident of deli vering stronger results in the coming quarters. For Q3’25, Top Glove saw its net profit decline to RM34.75 million from RM50.67 million a year ago. Revenue rose to RM830.25 million versus RM636.87 million in Q3’24, it said in a filing with Bursa Malaysia. For the nine months ended May 31, 2025, Top Glove returned to the black with a net profit of RM70.5 million against a net loss of RM58.23 million a year ago. Revenue was RM2.59 billion against RM1.68 billion previously. – Bernama

o Filtration solutions company sees significant opportunities in wastewater treatment, sustainable fuel projects

Its president and managing director, Chin Keat Chyuan, said that currently, about 15% of Malaysia’s general population is aged 60 and above. “Age comes with many associated diseases like NCDs, the three highs that we always talk about, namely high blood sugar, high cholesterol, and high blood pressure. And all these lead to many potential issues, including oncology problems such as cancer, which is a major concern facing Malaysians,” he said in a press conference after KPJ Healthcare’s 32nd annual general meeting and extraordinary general meeting here yesterday. Chin said these challenges represent opportunities for private healthcare providers to better serve the Malaysian population, including addressing international healthcare risk factors. “This represents a huge opportunity, and in 2025, KPJ will continue to expand our capacity, both in terms of the number of clinicians PETALING JAYA: ACE Market newcomer Pan Merchant Bhd, a provider of solid-liquid filtration solutions, is prioritising emerging industries such as wastewater treatment and sustainable fuel to drive business growth and expand untapped markets. Managing director Wong Voon Ten said the company sees rising demand for sustainable fuel solutions from major energy players, driven by the global push towards decarbon isation and cleaner energy sources. “In Malaysia and across the Asia Pacific region, we also see significant opportunities in water treatment projects, especially as governments and water service providers continue to increase capital expenditure to upgrade water infrastructure. “On top of that, we are actively tendering for projects to sustain our earnings growth. “Currently, our tender book has grown to a substantial level, with more than half derived from the potable water and wastewater treat ment industry, while the remainder comprises projects from edible oil, sustainable fuel, and other industries,” he said at the company’s listing ceremony on Bursa Malaysia in Kuala Lumpur yesterday. Wong said the company remains committed to its core strength in the edible oil industry.

“I am also targeting the potential 20% of Indonesia’s 270 million population, that is 54 million people, who are currently travelling outside Indonesia, to seek treatment in countries such as Singapore, Malaysia, Thailand, and Vietnam. “And according to data from the Malaysia Healthcare Travel Council, more than 40%t of those Indonesian patients are coming to Malaysia, which is contributing significantly to our health tourism industry,”Chin said. This is an immediate business opportunity, especially as the group expands its workforce and increases the number of beds in its hospitals, he added. “We are (also) optimising all the assets we have, such as magnetic resonance imaging machines, com puted tomography scanners, and other technologies we have invested in.” Also present at the press conference were KPJ Healthcare chairman Tan Sri Dr Ismail Bakar and chief financial officer Mohd Khairul Izzad Mohammed Shamsudin. – Bernama “As a trusted and irreplaceable partner to our end-users, we are recognised for our consistent quality and reliability, and we will continue to play a vital role in supporting refineries and processing operations. We are also focused on expanding our presence in strategic regions where edible oil production is critical,” he added. Wong emphasised the significant potential and growing demand for solid-liquid filtration solutions in the water treatment and sustainable fuel industries, expressing confidence in the group’s ability to secure projects in such industries, backed by its 38 year track record of product quality and reliability. As of April 30, the group’s potential project pipeline spans key industries, with the largest portion coming from the potable water and wastewater treatment segment, followed by projects in edible oil, sustainable fuel, mining, food processing, and other industrial segments. Pan Merchant’s share price opened at 23.5 sen compared to the initial price offering (IPO) price of 27 sen per share. It closed at 23 sen, 4 sen or 14.8% below the IPO price, on 5.576 million shares traded. The company’s IPO entailed a public issue of 232.2 million new shares and an 18 million offer-for-sale shares, at an issue price of 27 sen per

Wong delivering a speech at the listing ceremony of Pan Merchant.

its IPO proceeds to acquire advanced computer numerical control and robotic welding machines, which are expected to enhance production efficiency, to meet the growing demand for filtration equipment and replacement parts both locally and internationally. As of May 6, the group’s order book stood at RM69.6 million, comprising orders for filtration equipment, replacement parts, and steel works. The order book is expected to be fulfilled within the next 12 months. Affin Hwang Investment Bank Bhd serves as the principal adviser, sponsor, sole placement agent, and sole underwriter for Pan Merchant’s IPO exercise.

share, representing 27.3% of the enlarged share capital. The overall value of the IPO is RM67.6 million, with Pan Merchant receiving RM62.7 million and the offeror receiving the remaining RM4.9 million. Out of the total proceeds of RM62.7 million, RM28 million will be used for capital expenditure on manufacturing plants, including the acquisition of machinery, equipment, and tools, as well as the renovation of its manu facturing facilities. A further RM7 million will be allocated for product development, and the remaining RM27.7 million for business ex pansion, working capital, and de fraying of listing expenses. Pan Merchant plans to use part of

KPJ Healthcare eyes 70% contribution from age-linked, NCD cases this year KUALA LUMPUR: KPJ Healthcare Bhd expects age-related and non communicable disease (NCD) cases to contribute about 70% of its business volume this year. we have and the services we offer.” Commenting on medical tourism, Chin said KPJ is also targeting patients from Indonesia.

From left: Chin, Dr Ismail and Mohd Khairul Izzad with the annual report after a press conference following the KPJ Healthcare’s 32nd AGM yesterday. – BERNAMAPIC