Investment & Market Trends

Cuckoo International (MAL) Bhd concluded its inaugural trading session on the Main Market of Bursa Malaysia with shares closing unchanged at RM1.08, the same as its finalised initial public offering (IPO) price. The flat debut followed a volatile day of trading, with the stock opening marginally higher at RM1.09 and touching a high of RM1.11 before settling back to its offer price. A total of 42.73 million shares changed hands during the session. At its closing price, Cuckoo International, best known for leasing water purifiers and a range of home appliances, achieved a market capitalisation of RM1.6 billion. The company’s IPO journey had been marked by a two-month delay, attributed to global market uncertainty. Ultimately, the share price was reduced in response to subdued investor demand. Retail investor interest exceeded the allocated tranche by a modest 1.42 times, while certain institutional tranches were undersubscribed and subsequently reallocated. The cautious market sentiment also prompted a downward revision in the total offering size. The overall proceeds raised amounted to RM395 million, representing a 16% shortfall from the original RM471 million target. Of the total raised, approximately RM155 million was directed to the company, earmarked for expansion of its rental-based business model, repayment of bank borrowings, capital expenditure on new brandshops, IT infrastructure enhancements, and regional growth into Singapore. The remainder, approximately RM240 million, was realised by selling shareholders. Cuckoo’s scaled-down offering reflects similar recent trends in the local market, including the IPO of Eco-Shop Marketing Bhd, which also reduced its share sale by close to 7% due to soft investor appetite. RHB Investment Bank acted as the sole principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for the IPO. AmInvestment Bank served as joint global coordinator, joint bookrunner, and joint underwriter. -The Edge

Foreign investors sustained their net selling streak on Bursa Malaysia for a fifth consecutive week, pushing total net outflows to RM565.2 million for the week ended 20 June 2025, according to MIDF Amanah Investment Bank Bhd. The latest figure marks an increase from the RM444.4 million recorded in the previous week. MIDF reported that foreign investors remained net sellers on each trading day, with daily outflows ranging between RM52.5 million and RM202.2 million. The heaviest selling activity was observed on Friday, followed by Monday, which saw outflows of RM130.3 million. Despite the persistent foreign exits, selected sectors witnessed notable net foreign inflows. The transportation and logistics sector led the gains with RM95.8 million, followed by real estate investment trusts (REITs) at RM38.4 million and construction at RM28.9 million. Conversely, significant net foreign outflows were recorded in financial services (RM387.4 million), healthcare (RM110 million), and industrial products and services (RM52.9 million), reflecting continued caution among offshore investors toward these segments. On the domestic front, local institutions maintained their buying trend for the fifth straight week, recording net inflows of RM510.6 million. However, this was lower than the RM620.6 million registered the previous week. Local retailers, meanwhile, reversed their two-week outflow streak with a net inflow of RM54.7 million. Regionally, foreign investors reversed their net buying position across Asia, posting a cumulative outflow of US$618.6 million (approximately RM2.65 billion). South Korea and India stood out as exceptions, continuing to attract foreign capital. MIDF also noted a general decline in average daily trading volumes across most investor groups. Local institutions and retailers recorded volume decreases of 13.3% and 10.9%, respectively, while foreign investors bucked the trend with a 24% increase in trading activity. -Bernama

KUALA LUMPUR : Malaysia has secured RM4.6 billion in potential investments following its successful participation in Semicon Southeast Asia (SEA) 2025, the region’s leading event for the global electronics and semiconductor industry. The achievement reaffirms Malaysia’s competitiveness and strategic appeal to international investors within the electrical and electronics (E&E) sector. The Malaysian delegation, led by Investment, Trade and Industry Minister Tengku Zafrul Aziz, engaged in high-level meetings with global stakeholders, including key players in E&E engineering and major data centre operators. Describing Semicon SEA as the “World Cup” of the microelectronics industry, the minister noted the platform’s significance in positioning Malaysia at the forefront of the region’s innovation landscape. Highlighting the country’s technological capabilities, the Malaysia Pavilion drew strong international interest as nine homegrown companies exhibited advanced solutions spanning testing equipment, system integration, and electronic waste innovations. These enterprises collectively recorded annual revenues exceeding RM843 million, with the majority derived from exports. Tengku Zafrul revealed that the country’s participation also generated an estimated RM237 million in export opportunities, attracting buyers from strategic markets including Singapore, Japan, China and the United States. In a related development, Malaysia also initiated talks with prominent Singaporean companies in the food and beverage, as well as fast-moving consumer goods (FMCG) sectors, to advance the export of Malaysian-made halal products. These discussions are expected to yield an additional RM270 million in export potential. “This represents a golden opportunity for Malaysian producers to strengthen their presence in the Singaporean market, with overall potential comprising RM4.6 billion in investments and RM507 million in export value,” Tengku Zafrul stated in a social media update. -Bernama

KUALA LUMPUR: Bursa Malaysia is anticipated to trade within the 1,500 to 1,530 range this week, as investor sentiment remains fragile due to renewed geopolitical tensions and potential trade disruptions. Market volatility has been exacerbated by Washington’s proposed unilateral tariff measures and the rising hostilities in the Middle East, notably following Israel’s recent strike on Iran. The developments have cast a shadow over global markets, including Bursa Malaysia. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research, Mohd Sedek Jantan, noted that the market is expected to remain under pressure in the immediate term, barring any unexpected breakthroughs in the geopolitical standoff over the weekend. However, he suggested such a resolution is improbable in the near term. “Tactically, oil and gas counters could offer short-term trading opportunities, especially those involved in upstream activities or those expanding their upstream concessions. These companies are well positioned to capitalise on the current surge in oil prices,” he said in a statement to Bernama. In the previous week, Bursa Malaysia began on a positive note, buoyed by favourable developments in US-China trade discussions. The market was further supported by renewed interest from local institutional investors and a marked decline in foreign selling. -The Star

Online-merge-offline commercial foodservice and kitchen equipment supplier, Ping Edge Technology Berhad (“Ping Edge”) has successfully debuted on the LEAP Market of Bursa Malaysia Securities Berhad. The stock is categorised under the Consumer Products and Services sector and carries the stock name of PING, with a stock code of 03063. At the opening bell, Ping Edge’s share price opened at 24 sen, with a premium of 4.3% over the issue price of 23 sen. Founded in 2015, Ping Edge, through its wholly-owned subsidiary (collectively known as the “Group”), is principally involved in the trading of commercial foodservice and kitchen equipment through the Group’s digital platforms. Ping Edge operates two proprietary online channels – Kitchen Arena an online e-commerce platform which focuses on supplying new commercial foodservice and kitchen equipment, and Murah Kitchen an online marketplace for trading of pre-owned units. These online platforms are key revenue drivers to the Group, collectively contributing RM30.12 million, or approximately 97.5% of the total revenue for the financial year ended 31 October 2024 (“FYE 2024”). To complement the online experience, Ping Edge also operates a physical showroom and warehouse, Kitchen 360, in Seri Kembangan, Selangor. The brick-and-mortar presence provides prospective customers the opportunity to view and assess equipment in person. Ping Edge’s integrated approach has driven a steady growth in the Group’s customer base, serving 1,315 customers in FYE 2024, up from 943 in the previous financial year. Notable clients include subsidiaries of MSM International Limited, Ayam Gepuk (M) Sdn. Bhd. (i.e. Ayam Gepuk Pak Gembus), UR Restaurants Sdn. Bhd. (i.e. FUIYOH! It’s UNCLE ROGER), and Mamakim Wellness Kitchen Sdn. Bhd. To meet the diverse operational needs of its clientele, Ping Edge offers a broad portfolio of approximately 7,814 stock keeping units (“SKUs”) across approximately 430 brands, spanning categories such as cooking and display units, beverage preparation systems, refrigeration appliances, cleaning and sanitation machinery, and stainless-steel fabrication. The Group’s brand portfolios include, among others, Frezmac, Modelux, Unox, Fresh, Redor, Powerline, Snow, Fagor, Robot Coupe, and Costimo. Managing Director of Ping Edge, Mr. Dexter Soh Yeow Seng said, “The listing of Ping Edge on the LEAP Market marks an important milestone in our corporate journey – the culmination of our team’s dedication and hard work. The new status increases our visibility and strengthens our credibility among customers, business partners, and industry stakeholders. By embracing the transparency and accountability expected of a listed company, we aim to foster greater trust and confidence in our brands and platforms, as well as enhance the confidence our business partners have in us.” “The food and beverage industry continues to grow in tandem with the rising population and higher disposable income. To capitalise on this favourable environment, we plan to set up three new showrooms with storage facilities in Negeri Sembilan, Johor, and Penang. This will enhance accessibility for customers outside the central region, improve service coverage and shorten delivery lead times, while complementing our online-first strategy by providing customers the opportunity to physically experience products with on-site guidance. Operations in Negeri Sembilan and Johor outlets are targeted to commence in the third quarter of 2025.” In response to evolving market demands, Ping Edge also plans to expand its product range to cater to a wider target market. The expansion includes new categories such as bakery equipment, food processors, kitchenware, bar supplies, and cooking utensils, with potential additions such as tableware, crockery, and cutlery to complement existing offerings. “We also aim to upgrade our digital platforms by improving functionality and user experience. Planned enhancements include integrating business intelligence tools to enhance the capabilities of both our online platforms, adding a bidding function on Murah Kitchen, and refining site navigation and responsiveness. Furthermore, we are stepping up digital marketing efforts and strengthening customer service touchpoints to boost trust and encourage repeat usage.” “We intend to develop Business Doctor as a standalone business segment, extending beyond product sales. Currently, Business Doctor provides kitchen design consultancy, installation, servicing, and repair services for equipment purchased online. Given the rising demand for tailored solutions and aftersales support, we plan to offer these services to a broader customer base – including those outside our digital channels.” Mr. Dexter Soh concluded. For FYE 2024, the Group’s revenue increased 79.5% year-on-year (“YoY”) to RM30.89 million on higher sales across both online platforms as well as its physical outlet. Profit after tax (“PAT”), meanwhile, jumped 219.8% YoY to RM2.91 million from RM0.91 million a year ago. This translated into a PAT margin of 9.4% in FYE 2024. Ping Edge raised RM5.15 million from its LEAP Market listing to fund its strategic growth initiatives, allocating RM1.00 million (19.4%) for showroom expansion. Another RM0.50 million (9.7%) goes to digital enhancements, RM2.37 million (46.0%) for working capital, while the balance RM1.28 million (24.9%) will be utilised to defray listing-related expenses. TA Securities Holdings Berhad is the Approved Adviser, Placement Agent, and Continuing Adviser for the listing exercise.