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Topmix’s Successful Debut on Bursa Securities’ ACE Market

KUALA LUMPUR: Topmix Berhad (“Topmix” or the “Group”), a company specializing in surface decorative products, has successfully listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The stock, named TOPMIX with the code 0302, falls under the industrial products & services sector.

(From left): Mr. William Lau Si Yi, Independent Non-Executive Director of Topmix Berhad; Ms. Ng Yew Kuan, Independent Non-Executive Director of Topmix Berhad; Ms. Jessie Tan Lee Hong, Executive Director of Topmix Berhad; Mr. Jack Teo Quek Siang, Managing Director of Topmix Berhad; Mr. Chang Tian Kwang, Independent Non-Executive Chairman of Topmix Berhad; Mr. Jeffery Khor Hang Cheng, Independent Non-Executive Director of Topmix Berhad; Datuk Muhamad Umar Swift, Chief Executive Officer and Non-Independent Executive Director of Bursa Malaysia Berhad; Datuk Bill Tan, Managing Director of M&A Securities Sdn Bhd; and Mr. Gary Ting, Head of Corporate Finance of M&A Securities Sdn Bhd.

During its debut, Topmix opened at 41 sen per share, which was 32.3% higher than its issue price of 31 sen, with an initial trading volume of 12,248,800 shares.

Mr. Teo Quek Siang, Managing Director of Topmix, stated, “Today marks a significant milestone for Topmix as we enter a new phase of growth as a publicly traded company. The success of our IPO underscores our commitment to advancing Topmix and strengthening our position in the surface decorative products market.”

He added, “The capital raised through the IPO will support our expansion plans. We aim to diversify our product range by venturing into the assembly of melamine faced chipboard (MFC) products to serve furniture manufacturers. MFC offers a cost-effective solution for furniture carcasses, complementing our existing HPL surface decorative products, and enabling us to provide coordinated products at competitive prices.”

Furthermore, Mr. Teo highlighted, “We will open a sales office in Pulau Pinang to tap into opportunities in the northern region of Peninsular Malaysia and expand our presence in the central region by increasing warehouse capacity to cater to growing demand from both residential and commercial sectors.”

He noted, “Our growth strategy is aligned with the recovery and expansion in property markets, driven by government initiatives and investments in property development, alongside increasing demand for surface decorative products due to urbanization and a growing furniture industry in Malaysia.”

In summary, Topmix raised RM25.6 million through the IPO. The funds will be utilized for general working capital (44.2%), business expansion, marketing, and sales initiatives (23.3%), including new office establishment and warehouse expansion. Additionally, funds will support the expansion into MFC products assembly (20.8%), and cover listing expenses (11.7%).

M & A Securities served as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for Topmix’s IPO.

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