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发表于 13-11-2010 11:25 PM
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本帖最后由 swordxend 于 13-11-2010 11:28 PM 编辑
Careplus旨在提高RM15mil
GLOVE manufacturer Careplus Group Bhd, which is en route to alisting on Bursa Malaysia's ACE market before year-end, hopes to raiseabout RM15mil from its public issue to expand its production capacitydue to growing demand from its existing customers.
The company,which hopes to release its prospectus next week, looks to its initialpublic offering (IPO) as a means of catapulting it to its next growthphase over a duration of three to five years. Careplus, which has apaid-up capital of RM14.5mil, will look at a public spread of 25% andwill not have an offer for sale.
"The existing shareholders arecommitted to the business and the hope is to increase the company'svalue to shareholders over time," its chairman and non-executivedirector Peter Yew Nieng Choon told StarBizweek in an interview on Wednesday.
Thecompany is a manufacturer and exporter of medical and non-medicalgloves, cleanroom gloves, household gloves and surgeons' gloves. Itsexport markets cover some 20 countries including the US, Europe, Asia,Middle East, Africa, Australia and South America.
 Careplus Group Bhd executive chairman Peter Yew (left) and Group CEO Lim Kwee Shyan.
"Japanand Hong Kong are our main markets, accounting for 20% of the company'srevenue. These markets will continue to be strong markets so long asthere are willing buyers. Our customers comprise importers anddistributors, whose businesses are in healthcare products," saidCareplus group chief executive officer and executive director Lim KweeShyan.
Careplus registered a net profit of RM6.2mil against revenue of RM42mil for the financial year ended January 31 2010.
Lim said the company should see similar growth as seen in the industry.
"Thegrowth rate in terms of (glove) usage is 8%-10%. Revenue increaseslargely depend on the prices of (raw) material," he said.
When asked on the impact of the weakening US dollar, Lim said that margins could see a potential short term squeeze. "Solong as the currency appreciates or depreciates in a consistent manner,we will be able to work with our customers to pass on the cost," hesaid.
Careplus owns a manufacturing plant that produces powderedand powder-free latex exam gloves as well as cleanroom latex andnitrile gloves. Its manufacturing plant has six production lines with amaximum production capacity of 420 million pieces per annum.
"We are running at 95% capacity currently and need to expand our lines to cater for growing demand," said Lim.Under its expansion plans, Careplus seeks to double up its production capacity over the next two years.
Asthe company ramps up its production capacity, it will be able toincrease sales to existing export markets and look to expand itsfootprint in markets that have not been tapped.
"The current capacity restriction is holding us back from growing our sales further," said Lim.
WhileLim was unable to share expansion details prior to the prospectuslaunch, he said a new line costing RM2.5mil will be able to produce 108million pieces per annum.
Should the company add another fivelines, it can easily achieve a production capacity of 540 millionpieces per annum at an investment cost of close to RM13mil.
Itis understood that the bulk of the IPO proceeds will go towards fundingthe company's expansion, after deducting listing expenses.
"Ittypically takes about three to nine months to put in new lines and getthem up and running. But if you are looking to build a factory with newlines, that will take 18-24 months," said Lim.
Careplus hasacquired a new parcel of land spanning six acres for RM3.6mil and hascommenced construction. The new land is within close proximity of itsexisting manufacturing facility in Senawang. The cost for the existingfacility, including the land and machinery, was estimated betweenRM12mil and RM15mil.
Careplus Group comprises Perusahaan Pelindung Getah (M) Sdn Bhd, Careplus (M) Sdn Bhd, and Masterclean Technologies Sdn Bhd. Yewinitially formed Perusahaan Pelindung with his wife in 1988. Both Yewand Lim formed Careplus (M) Sdn Bhd to trade in gloves in 1991 and tenyears later, Careplus (M) made Perusahaan Pelindung its wholly-ownedunit.
In 2002, Careplus (M) acquired Masterclean Technologies, acompany involved in processing and exporting cleanroom gloves for thesemiconductor industry to grow the company's product range.
Careplus将会在11月16日开发布会，正式宣布上市~ 股价预测介于RM0.23-0.25之间~
http://biz.thestar.com.my/news/story.asp?file=/2010/11/13/business/7412902&sec=business |
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