Last Friday was a historic day for the Penang-based Pentamaster Group with the successful listing of its subsidiary company, Pentamaster International Limited, on the main board of Hong Kong Stock Exchange.
Pentamaster intends to use proceeds from the offering for a new production plant, expansion into the Greater China region, marketing and meeting working capital needs. It reported a 62.6% increase in profit for the six months ended June 30 to RM18.8 million ringgit ($4.78 million), as revenue soared 53% to RM96.6 million.
According to a Pentamaster spokesperson, besides exposure to the Greater China region, the Group also intend to establish a presence in California, United States.
“In addition, we are also intending to strengthen our market position through strategic acquisitions and other business co-operations and partnerships,” he said. “Our key focus areas are in telecommunications, automotive, single use medical devices and smart building automation.”
“With over 22 years of extensive experience and proficient skills, we provide an integrated range of innovative services in manufacturing of automated and semi-automated machinery and equipment. We are dedicated to provide high quality, reliable, cost-effective products and value added services, as well as providing benefit and satisfaction to our customers,” he further said, before acknowledging the Malaysia Digital Economy Corporation (MDEC) for assisting with the company’s growth path.
The Pentamaster Group is a participant of MDEC’s Global Acceleration and Innovation Network (GAIN) programme which had been designed to help Malaysian tech companies expand through four main areas – market access, risk capital, tech refresh and visibility.
According to MDEC Vice President (Enterprise Development) Gopi Ganesalingam, “Pentamaster’s vision and aspirations are in line with our GAIN program and we congratulate them on having successfully completed its Hong Kong IPO exercise which would serve as yet another milestone for the company to growth its business regionally and globally.”