ANNOUNCEMENT
Hextar Industries Berhad (“HIB” or the “Company”) kicked off the trading on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”) today, 28 June 2024.
This uplisting marks a significant ascent for HIB and a testament to the Company’s unwavering dedication to delivering long-term value for its stakeholders. The strategic acquisition of Hextar Fertilizers Limited in December 2022 played a pivotal role in securing this milestone.
The transformative acquisition catapulted HIB Group’s annual production capacity for compound fertiliser by eight-fold, solidifying HIB’s position as a leading fertiliser manufacturer in Malaysia. Leveraging this expanded capability, the Group delivered a stellar financial performance, boasting a revenue of RM1.29 billion and a profit after tax of RM98 million for the financial period ended 31 December 2022.
HIB’s relentless pursuit of growth continued in 2023 with the strategic acquisitions of Hextar Mitai Sdn Bhd and Pacific Office (M) Sdn Bhd. Hextar Mitai, a provider of engineering solutions across diverse sectors like oil and gas, food and beverage, aerospace and amusement parks, provides the Group with valuable engineering expertise. Together with Pacific Office, a leading stationery and office supplies distributor, broadens the Group’s revenue streams.
“We are thrilled to celebrate our uplisting to the Main Market of Bursa Malaysia. This remarkable achievement is a direct reflection of our entire team’s unwavering dedication and relentless pursuit of value creation for our shareholders. We are confident that this uplisting will propel us to even greater heights, enhancing our visibility and attracting a wider investor base to fuel our continued growth,” declared Mr Benny Ang Sui Aik, Group Managing Director of HIB.
“Our diverse fertiliser portfolio, coupled with our robust customisation capabilities, empowers us to deliver comprehensive solutions for a wide range of crops. We are at the forefront of sustainability, pioneering environmentally friendly products like plant-based organic fertilisers. Furthermore, we are actively developing solutions to address critical industry challenges like fertiliser leaching and nutrient run-off,” elaborated Mr Ang.
Looking towards market expansion, Mr Alex Sham, Executive Director of HIB, revealed that “the Group is implementing strategic plans to establish partnerships with local distributors in neighbouring countries with robust agricultural sectors like Indonesia, Thailand, Vietnam, and Myanmar. This targeted approach will significantly drive export growth, solidifying HIB’s position as a regional leader.”
About Hextar Industries Berhad (“HIB”)
HIB is listing on the Main Market of Bursa Malaysia Securities Berhad and through its subsidiary companies, is involved in the manufacturing and formulation of bulk blend, mixture and compound fertilisers, trading of various fertilisers as well as providing crop management solutions. In addition to the fertiliser business, HIB Group also supplies a wide range of industrial products such as machinery, spare parts, conveyor belts, forklifts, industrial batteries, lighting, manufacturing of quarry crusher screens for use in the quarry industry and providing outdoor equipment rental services for chillers, tents and power generators. HIB Group is also involved in the provision of office supplies such as stationaries, papers, computers, printers and office furniture.
The Company’s head office is located in Bayuemas Klang, Selangor. It also owns and operates fertiliser manufacturing facilities in Port Klang, Bintulu, Lahad Datu and Pasir Gudang.
For further information, please contact Sean Lee, Chief Financial Officer of HIB at sean.lee@hextar .com
To find out more about HIB, please visit www.hextarindustries.com
(News provided by Emjay Communications)
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