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Based on the issue price of 18 sen per share, Polydamic’s market capitalisation will stand at RM15.88mil on its listing on the Leap Market.

PETALING JAYA: Polydamic Group Bhd will be listed on the Leap Market of Bursa Malaysia on March 23.

The company is principally involved in the development and manufacturing of air pollution control systems and environmental engineering products. It also provides technical consultation and maintenance services.

Based on the issue price of 18 sen per share, Polydamic’s market capitalisation will stand at RM15.88mil on its listing on the Leap Market.

The company started its operations in Ipoh in 1996 and expanded its presence to Penang in 2011. It later set up an office and workshop to explore and capture business opportunities arising from the central region and the southern region.

Managing director Jacky Tan said to date, the company has completed multiple projects and secured product orders from countries across Asia Pacific, the Middle East and the United States.

The group recorded an unaudited revenue and unaudited profit after tax for its first six months ended Dec 31,2019 amounting to RM6.83mil and RM0.25mil, respectively. More than three-quarters of its customers for this period were from Malaysia, followed by China and the US.

Its revenue for the financial year ended June 30,2019 (FY19) stood at RM15.95mil with a profit after tax of RM1.50mil.

This was after deducting the non-recurring listing expenses of RM0.52mil. The group’s revenue increased by RM0.86mil or 5.7% from RM15.09mil in FY18 to RM15.95mil in FY19, mainly due to more new projects from the export market.

https://www.thestar.com.my/business/business-news/2020/03/21/polydamic-to-be-listed-on-leap-market-on-march-23
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