Mestron completes listing transfer exercise to Bursa Malaysia’s Main Market

SPECIALTY pole manufacturer Mestron Holdings Bhd has successfully transferred its entire issued share capital of 102.44 billion shares (including 386.93 million warrants) to the Main Market of Bursa Malaysia Securities Bhd from the ACE Market.

Bursa Securities has vide its letter dated Dec 8 approved the transfer under the “Industrial Products & Services” sector.

Mestron’s managing director Por Teong Eng described the transfer exercise as marking a major milestone for the group subsequent to its listing on the ACE Market on June 18, 2019.

“The transfer will further strengthen the group’s credibility among its customers, suppliers, business associates, employees and shareholders; and further firming Mestron’s shareholder base, especially among institutional investors,” he pointed out in a statement.

Por Teong Eng

Mestron is currently Malaysia’s leading manufacturer and supplier of specialty poles which focuses on the telecommunications (telco) sector. More recently, the group has ventured into the renewable energy (RE) segment by tapping the solar and biogas sectors.

Mestron’s net earnings for the first nine months of FY2023 jumped 40.2% to RM9.41 mil from RM6.72 mil in the corresponding period a year ago. This significant improvement was fuelled by reduced raw material costs and a spike in demand for specialty poles in the telco sector.

Consequently, the group witnessed a 29.28% revenue growth to RM106.14 mil in its 9M FY2023 ended Sept 30, 2023 from RM82.10 mil in 9M FY2022.

Moving forward, Por said while Mestron will continue to focus on the telco sector offerings – particularly with rising demand for its specialty poles amid roll-out of the JENDELA initiative nationwide – the group is also exploring earnings accretive merger and acquisition (M&A) opportunities.

At 3.19pm, Mestron was up 0.5 sen or 1.08% to 47 sen with 10.34 million shares traded, thus valuing the company at RM468 mil. – Dec 11, 2023

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