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apple developer account for sale :HPP soars to high of 60.5 sen on ACE Market debut

admin2021-02-1659

Strong debut: From left are HPP Holdings executive director Ng Soh Hoon, group managing director Kok Hon Seng and chairman Lau Tee Tee @ Lau Kim Wah. KUALA LUMPUR: Offset packaging printing specialist HPP Holdings Bhd made a strong debut on the ACE Market on Wednesday, surging to a high of 60.5 sen or 24.5 sen above its offer price of 36 sen.It opened at 57 sen, up 21 sen. At 9.04am, it was trading at 57 sen, up 21 sen. There were 28.06 million shares traded at prices ranging from 51 sen to 60.5 sen. The FBM KLCI was up 3.08 points or 0.19% to 1,604.96. Turnover was 227.48 million shares valued at RM122.09mil. There were 232 gainers, 144 losers and 280 counters unchanged. HPP is the first company to be listed on Bursa Malaysia this year. At the IPO price of 36 sen, HPP Holdings will have a market capitalisation of RM139.8mil. It raised RM31.90mil from its listing of which RM13mil will be for capital expenditure such as acquisition of printing machines, RM7.80mil to repay borrowings, RM5.2mil as working capital and RM2mil for sales and marketing expenses. The IPO comprised 108.669 million shares of which 19.42 million shares were offered to the public, 30 million shares for eligible directors, employees and business associates, 19.82 million shares were placed out and the remaining 39.42 million shares were for Bumiputera investors HPP Holdings and its subsidiaries specialise in full colour offset printing and they also produce paper-based packaging across various industries. Its clients include consumer electrical and electronics, food and beverages, sheath contraceptive and pharmaceuticals. PublicInvest Research has a fair value of 47 sen for HPP based on a 12 times price-to-earnings (PE) multiple to its FY22F EPS of 3.9 sen. The research house said HPP’s growth will be dependent on: i) increase in printing capacity with acquisition of two additional standard format printing machines, ii) increase in production capacity with acquisition of an additional rigid box production line, and iii) effort to widen customer base with marketing initiatives. PublicInvest Research also pointed out HPP’s competitive strengths include: i) provision of customised products to meet evolving requirements, ii) serving a customer base that covers various end-user industries, iii) long term relationships with its customers and suppliers, iv) compliance with various quality control requirements, v) sustaining continuous growth of business with design and development, and vi) having an experienced key senior management team Key drivers may include: i) growth in the essential consumer products manufacturing sector, food and beverages as well as pharmaceuticals in particular, and, ii) increasing disposable income in the long run that potentially drives greater demand for high-end consumer electrical and electronics (E&E) products with quality packaging.
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