Safetyware makes constructive debut on LEAP Market at 20 sen

KUALA LUMPUR: Safetyware Group Bhd, an built-in security and well being options supplier, made a constructive debut on the LEAP Market of Bursa Malaysia Securities Bhd as we speak, opening at 20 sen per share — a premium of 5 sen or 33 per cent over its reference value of 15 sen.

On the opening bell, the group noticed about 10,000 of its shares traded.

The group’s itemizing was the fifth itemizing on the LEAP Market and the twenty sixth on Bursa Malaysia this yr.

Managing director Wong Kee Wei mentioned the resumption of financial actions supplied larger alternatives for the corporate’s development, as investments can be pouring in from numerous industries.

“With extra factories resuming operations, the demand for occupational security and well being merchandise may also improve.

“In addition to, our enterprise doesn’t solely concentrate on Malaysia but additionally the ASEAN area. We’re additionally planning to maneuver into new markets, particularly international locations within the Center East and the African area,” he advised a press convention after the corporate’s itemizing ceremony as we speak.

Wong mentioned rising economies are exhibiting rising security pursuits, thus their security and well being laws have turn into extra stringent.

“We predict will probably be comparatively simpler for us to enter these markets in comparison with these matured markets which were dominated by outstanding and greater gamers,” mentioned Wong.

The group provides over 3,000 forms of merchandise, together with security footwear, security attire, security helmets and respirators.

It has been exporting its merchandise to over 20 international locations, together with China, Canada, america, Indonesia and Thailand.

To this point, Safetyware has 9 gross sales places of work all through Malaysia, together with Singapore.

Wong mentioned proceeds from the itemizing train, totalling RM6.48 million, will likely be used to buy equipment and gear for the group’s manufacturing section, and the group may also be opening extra stores to extend its distribution protection.

“We hope to have the ability to enter the ACE Market within the subsequent three years,” he added. – Bernama

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