KUALA LUMPUR: BWYS Group Berhad (“BWYS” or the “Company”), a leading manufacturer of sheet metal products and supplier of scaffoldings, has successfully made its debut on the ACE Market of Bursa Malaysia Securities Berhad. The stock, listed under Industrial Products & Services, trades under the symbol BWYS with the stock code 0313.
At the opening, BWYS shares began trading at 32 sen, marking a 45.5% premium over the issue price of 22 sen, with an initial trading volume of 33,921,300 shares. This strong market entry follows an oversubscribed initial public offering (“IPO”) of 48.5 times, reflecting robust investor confidence in BWYS’s business model and growth prospects.
Mr. Kang Beng Hai, Managing Director of BWYS, expressed gratitude for the market’s confidence, heralding this milestone as a testament to their 25-year expertise in navigating the complexities of the sheet metal industry. He emphasized their strategic focus on leveraging fresh capital to accelerate growth and seize new opportunities.
“In 2023, we achieved an 11% market share in Malaysia’s metal roofing sheets and trusses market. To build on this success, we are expanding with a new 197,153 sq ft factory in Penang, known as the New Penang Factory. This expansion addresses space constraints and enables us to introduce a new continuous production line for polyurethane foam sandwich panels, renowned for their superior insulation properties against heat and noise,” Mr. Kang elaborated.
He further highlighted plans to enhance manufacturing capabilities through investments in advanced machinery and equipment for roof trusses and industrial racking systems. Integration of information and communications technology systems is also underway to streamline production and inventory management processes.
Financially, BWYS reported revenue growth from RM130.9 million in FYE 2020 to RM246.1 million in FYE 2023, representing a 3-year compound annual growth rate (CAGR) of 23.4%. Net profit grew from RM3.4 million to RM17.6 million over the same period, demonstrating a 3-year CAGR of 73.0%.
Looking ahead, BWYS aims to expand its market presence domestically and internationally, leveraging existing reseller networks. Mr. Kang underscored their commitment to capitalize on Malaysia’s growing steel industry, buoyed by increased domestic consumption driven by infrastructure projects and industrial expansions.
“We are committed to expanding production capacity, enhancing manufacturing capabilities, and diversifying product offerings to meet evolving market demands,” Mr. Kang affirmed.
BWYS raised RM56.4 million from its IPO, with RM41.4 million earmarked for capital expenditure including the New Penang Factory, new machinery, and an ERP system. The balance will support working capital, listing expenses, and debt repayment.
M & A Securities Sdn Bhd serves as the IPO’s Principal Adviser, Sponsor, Underwriter, and Placement Agent.
