KUALA LUMPUR: Meat processor and distributor MyAxis Group Bhd expects its upcoming processing facility in Bukit Kayu Hitam, Kedah, to begin contributing to revenue in the second quarter of the financial year ending 31 July 2026.
Executive Chairman Datuk Tan Hwa Sing announced that the group will invest RM11.3 million in the new facility, which will significantly enhance production capabilities. Upon completion, MyAxis’s annual poultry processing capacity will double to 708 tonnes, while red meat handling capacity is projected to triple to 1,870 tonnes. In addition, storage capacity will increase tenfold, from 53.0 tonnes to 566.0 tonnes.
The announcement was made during a press conference held in conjunction with the company’s official listing on the LEAP Market of Bursa Malaysia. MyAxis has also laid out plans to migrate to the ACE Market within the next two years, in line with its long-term growth strategy.
Tan highlighted that the company’s upstream operations, handled through its wholly owned subsidiary KK Fresh Frozen Sdn Bhd, mark a strategic shift towards processing and selling poultry and red meat products. With expanded facilities, the group aims to broaden its reach among food and beverage operators, hotel groups, and processed food manufacturers. The customer base has grown substantially to 300 nationwide, up from just 20 in 2024.
The new facility, spanning a built-up area of 17,567.76 square feet, is expected to be fully operational in 2026. In response to queries regarding supply, Tan stated that half of the company’s poultry products are sourced from Thailand, with the remainder imported from Malaysia and China. He indicated that this sourcing ratio is expected to remain stable, ensuring consistent product quality for frozen meats.
To support its expansion, MyAxis aims to raise RM5.29 million via a private placement of 44.1 million new shares at an issue price of 12 sen per share, implying a market capitalisation of RM40.9 million upon listing. The proceeds will be allocated towards repaying bank borrowings (RM3 million), acquiring new machinery, enhancing working capital, strengthening branding and marketing initiatives, and covering listing-related expenses.
-Bernama
