KUALA LUMPUR (Jan 5): Frozen food distributor Guan Huat Seng Holdings Bhd plans to expand its retail outlets in the Klang Valley and Johor following its ACE Market listing.
The initial public offering (IPO) price was set at 25 sen apiece. The company is scheduled to be listed on the ACE Market on Jan 22.
Speaking to reporters on Monday after the prospectus launch, managing director Yeo Tien Ee said the group only currently operates one retail outlet in Melaka.
The group plans to open two outlets in the Klang Valley in the second half of 2026 and a retail outlet in Johor in 2027 to boost brand awareness and support existing customers.
Besides the opening of the new retail outlets, the group is also planning a new integrated complex in Melaka to be partially funded by its IPO proceeds. It is also opening a new factory in Krubong to manufacture flavouring products.
The complex and new Krubong facility are slated for completion by the third and fourth quarters of 2028, according to the prospectus.
The group is also looking to capture younger consumers via convenience products that are ready-to-cook.
“We will be extending our products from sauces, spices, seasoning, condiments, and then the new targeted market that we see with growth potential beyond Malaysia,” said Yeo.
Guan Huat Seng's main exports are to China, Hong Kong, Korea, Singapore, Thailand and Australia.
The revenue contribution from the domestic market was RM82.38 million (88.47%), while the international market contributed RM10.74 million (11.53%).
For the financial year ended July 31, 2025, the group made a net profit of RM7.23 million on the back of RM93.11 million revenue.