KUALA LUMPUR (May 26): Bus Cap Bhd reported a net profit of RM2.53 million on revenue of RM19.28 million for the first quarter ended March 31, 2026, supported by continued demand for higher-capacity vehicles in Malaysia’s transport sector.
There were no comparative figures as the company is scheduled to be listed on the ACE Market of Bursa Malaysia only on June 3.
The company said in its filing with the bourse that revenue was predominantly driven by the sales of semi-high deck buses, which contributed the majority of the group’s total sales. Sales of double-deck buses, single-deck buses and the provision of repair and maintenance services segment contributed a smaller portion to its revenue.
Bus Cap said its gross profit came in at RM3.97 million, which translated into a gross profit margin of 20.6%.
The group said it has observed demand trends being shaped by transport operators, tour companies and government-linked buyers, with preference still skewed towards higher-capacity bus models.
Bus Cap added that it expects the repair and maintenance segment to provide a steady recurring income stream alongside its core manufacturing operations.
“The group will continue to focus on strengthening its core bus-building operations by enhancing its production capabilities, optimising operational efficiency and securing new orders from both existing and new customers,” said Bus Cap in the filing.
Its initial public offering (IPO), priced at 23 sen per share, is expected to raise about RM24.69 million to expand its operations by constructing a new factory and production lines from the proceeds raised. It is also looking to purchase new machinery.
The IPO exercise comprises a public issue of 107.35 million new shares, alongside an offer for sale of 19.17 million existing shares.
Bus Cap’s owner and selling shareholder NCS Consolidated Holding Sdn Bhd, which is the private vehicle of managing director Ng Chai Sing and his family, will pocket RM4.41 million from the offer for sale portion.
Upon listing, Bus Cap is expected to have a market capitalisation of RM88.18 million, based on an enlarged share base of 383.38 million shares.