KUALA LUMPUR (June 13): Ping Edge Technology Bhd (KL:PING), a commercial kitchen equipment supplier, is already eyeing a transfer to the ACE Market following its Friday LEAP Market debut.
“We aim to do it as soon as possible,” Ping Edge managing director Soh Yeow Seng said at a press conference following its listing ceremony. Shares of Ping Edge surged 52% by midday break, bucking broader market decline amid news of Israel's strike on Iran.
“The food and beverage industry continues to grow in tandem with the rising population and higher disposable income,” Soh said.
LEAP Market is an adviser-driven market for small and medium enterprises to raise funds and is accessible only to sophisticated investors. A transfer to the ACE Market would provide Ping Edge access to retail investors and a small group of institutional investors.
To capitalise on the favourable market environment, the company plans to set up three showrooms with storage facilities in Negeri Sembilan, Johor and Penang to boost transaction volumes on its online platforms.
“We have been receiving plentiful inquiries from these three areas so we think it will be beneficial for us to open at these locations,” said Soh.
The company offers more than 400 commercial foodservice and kitchen equipment, including Frezmac, Modelux, Unox, Fresh, Redor, Powerline, Snow, Fagor, Robot Coupe, and Aeglos.
Kitchen Arena, its flagship platform, focuses on sale of new equipment, while Murah Kitchen specialises in trading pre-owned equipment.
All three showrooms are expected to begin operations in the third quarter of 2025.
The showrooms will give customers the opportunity to physically experience products — such as induction stoves, coffee machines, refrigerators, and dishwashers — with on-site guidance before making a purchase, he said.
Physical stores also allow customers to compare different brands in one location to meet customer needs while lowering customer cost, Soh said, noting that the showrooms will also serve as collection points for customers who place orders online and opt to pick them up in-store.
Additionally, the three showrooms will help shorten delivery lead times. “Standard delivery lead time is around five to seven working days”, compared to five to 10 working days across Peninsular Malaysia, Soh said.
When asked whether the sales and service tax expansion would affect the company, Soh said: “At this moment, there is no material impact on our financials as we operate as a trading business.”