KUALA LUMPUR (July 6): Bestari Food Bhd, known for its food premix products including its flagship Crispy Fried Chicken Coating Mix, has filed for an initial public offering (IPO) on Bursa Malaysia's Main Market.

The food premix manufacturer plans to use part of the planned IPO proceeds to acquire land and build a new production facility, and purchase new machinery and equipment to expand its manufacturing capacity, according to the draft prospectus lodged with the Securities Commission Malaysia on Monday. The group also intends to allocate part of the proceeds for marketing activities.
 
"The proposed acquisition of land and construction of a new production facility will complement our existing operational facility at Bestari HQ," the prospectus read. Bestari currently operates from its headquarters in Telok Panglima Garang, Selangor, which it rents from shareholder Core Perpetual Sdn Bhd at market rates. The facility has a built-up area of 67,465 sq ft.

The group said it has identified the Bandar Industrial Zone in Banting as its preferred location for the new facility and is currently evaluating suitable land parcels of about 10 acres within the area.

According to the prospectus, the group's planned investment in machinery and equipment will include integrated mixing and packaging lines, silo systems for bulk storage and handling of raw materials, and automated packaging and palletising systems for finished products.

"The acquisition of the new machinery and equipment is expected to increase our group’s overall production capacity upon commissioning of the new production facility," the document read.

Bestari Food is widely known for its food premixes, which are blends of ingredients formulated in specific proportions for food preparation and processing.

Its products are marketed primarily under the Bestari brand and sold in both retail and commercial packaging formats. Retail packs are distributed through supermarkets and other retail channels, while larger packs are supplied to food manufacturers and food service operators, including hotels, restaurants, cafés and caterers.

In the near term, Bestari plans to develop new seasoned flour premixes, seasoning premixes and food base premixes for a wider range of food applications. The group also intends to introduce new flavours and variants of existing products and enhance product formulations to attract new customers and encourage repeat purchases.

Under the proposed IPO, Bestari will issue 77.07 million new shares and undertake an offer for sale of up to 56.25 million existing shares. Upon completion of the exercise, up to 29.6% of the group's enlarged share capital will be held by public investors.

The selling shareholder is Core Perpetual Sdn Bhd, whose stake will be diluted to 70.4% following the IPO.

Core Perpetual is owned by Bestari managing director Lai Kok Siong (40%), Lew Tai @ Kong Lew Tai (30%), head of sales and marketing Gabriel Lai Yung Yao (10%), head of production Gary Lai Yung-Hui (10%), and Lai Jia Maine (10%).

For the financial year ended Dec 31, 2025 (FY2025), Bestari posted a net profit of RM31.03 million on a revenue of RM175.32 million, compared with a net profit of RM16.54 million on a revenue of RM160.69 million in FY2024.

The group has stated its intention to distribute up to 30% of its annual audited profit after tax attributable to shareholders as dividends.

RHB Investment Bank is acting as the principal adviser, sole underwriter and sole placement agent for the IPO.