(From left) Crest Group Bhd executive director Yap Kian Meng, chairman Ahmad Tajudin Omar, executive director and group managing director Lim Siong Wai, MIDF Amanah Investment Bank Bhd deputy chief executive officer Datuk Seri Nur Julie Gwee Ariff, chairman Datuk Mohd Nasir Ali and Crest Group executive director Ethan Au at the prospectus launch of Crest Group in conjunction with its listing on the ACE Market of Bursa Malaysia, scheduled for Oct 9, 2024.
PETALING JAYA: ACE Market-bound Crest Group Bhd aims to enhance its global profile with its public listing, seeking to expand its export markets including China and Vietnam.
The company will list on Wednesday with an initial public offering (IPO) reference price of 35 sen.
Crest primarily operates within the semiconductor supply chain.
In an interview earlier last week, executive director Ethan Au said he expects an eventual return to growth for the semiconductor sector next year.
Almost 60% of the group’s revenue comes from the semiconductor segment.
He said the segment has experienced some softness this year, due to overstocked inventories.
“I believe the numbers will rebound next year and that double-digit growth is possible once again,” Au told StarBiz.
“The growth trajectory for the industry, moving forward, is well supported by increasing demand from sectors like artificial intelligence and the Internet of Things.”
Crest will be listed at a price-to-earnings ratio of 16.59 times, based on an earnings per share of 2.11 sen on its enlarged number of shares and a net profit of RM18.23mil for the financial year 2023. Its IPO was oversubscribed by 73.88 times.
