KUALA LUMPUR, Enest Group Bhd, an edible bird’s nest processor listed on Bursa Malaysia’s LEAP Market, plans to transfer its listing to the ACE Market as part of its next growth phase, alongside a public share offering to strengthen its financial position.
Under the proposal, Enest will issue 116.25 million new shares — representing 20% of its enlarged share capital — to raise funds primarily for loan repayment and working capital. Of this, 29.06 million shares will be offered to the Malaysian public, while existing shareholders will sell 15.05 million shares, equivalent to a 2.59% stake. Upon completion, the founding Tan family will retain a combined 45% ownership, according to its prospectus exposure.
Enest focuses on processing and selling bird’s nest products, with China as its key market contributing 67.4% of sales in the financial year ended Dec 31, 2024 (FY2024), followed by Malaysia at 31.4%. The group’s FY2024 net profit rose to RM8.04 million from RM6.67 million a year earlier, while revenue increased to RM146.21 million from RM120.33 million. Its gross profit margin stood at 10.3%. The company’s shares last traded at 14 sen, valuing Enest at RM64.82 million.
The group attributes its strong foothold in China to strict quality assurance and supply chain traceability standards, noting that its subsidiaries rank among Malaysia’s leading exporters of bird’s nest to China based on traceability records.
Looking ahead, Enest plans to consolidate its Kajang-based head office and processing operations at a new facility that will feature an in-house bottling line for ready-to-eat bird’s nest and herbal beverages. This move aims to enhance quality control, improve efficiency, and support new product development.
Enest also intends to expand its export base beyond China by tapping into traditional Chinese medicine and wellness product manufacturers, as well as reintroducing exports of raw uncleaned bird’s nest to China. M&A Securities has been appointed as the adviser, sponsor, underwriter and placement agent for the proposed transfer and public issue.
