Colform Group Berhad (“Colform” or the “Group“), an established steel and building material specialist in East Malaysia, has announced its unaudited financial results for the fourth quarter ended 31 December 2024 (“Q4 FY2024”) and for the full financial year ended 31 December 2024 (“FYE2024”).
This marks the Group’s first financial results release since its listing on the ACE Market of Bursa Malaysia Securities Berhad.
The Group reported a revenue of RM23.7 million for the quarter, bringing its total revenue for the financial year to RM100.7 million.
Profit Before Tax (“PBT”) for the quarter stood at RM5.9 million, while Profit After Tax (“PAT”) was RM4.4 million, reflecting the Group’s solid financial position and operational efficiency. Meanwhile, the PBT and PAT for the Group in FYE2024 is RM25.4 million and RM18.9 million respectively.
Colform’s business segments contributed significantly to this strong performance. The manufacturing of downstream steel products and processing of steel coils remained the Group’s largest revenue driver, contributing RM14.6 million or 61.47% of the total revenue for the quarter.
Trading of other downstream steel products and building materials contributed RM6.8 million or 28.78%, while the provision of supply, installation services, and project management services accounted for RM2.3 million or 9.75%.
The Group’s strong financial performance is a reflection of its robust market position and the increasing demand for steel solutions within the construction sector.
Colform Group Berhad successfully raised RM41.19 million through its initial public offering, which has been strategically allocated to accelerate its expansion initiatives.
The proceeds are being utilised for setting up a colour coil coating production line at its Kota Kinabalu factory, the construction of a new storage facility, and the expansion into Peninsular Malaysia with a new branch and factory in Klang.
Additionally, a portion of the funds is dedicated to strengthening the Group’s working capital to support its ongoing operations and growth, alongside covering listing expenses.
These initiatives are expected to enhance the Group’s service offerings, broaden its market reach, and solidify its position as a key player in the steel manufacturing and supply industry.
Mr. Kang Ket Hung, Managing Director of Colform Group Berhad, commented,
“We are pleased to deliver a strong set of results for our fourth quarter of 2024, marking a successful transition into the public-listed space. The results demonstrate our ability to maintain steady growth while executing our expansion strategy.
The demand for quality steel solutions continues to rise, and we are well-positioned to capitalise on these opportunities with our manufacturing, trading, and installation capabilities. Our IPO proceeds will be instrumental in realising our expansion plans, further strengthening our operations and market reach.”
The Group’s net assets stood at RM96.1 million as of 31 December 2024, reflecting a solid financial position to support its long-term strategic plans.
As Colform looks ahead, the Group remains optimistic about the outlook for the steel and construction industries in Malaysia, supported by ongoing infrastructure development and government initiatives that drive demand for high-quality steel products.
Colform Group Berhad remains committed to delivering value to its stakeholders through operational excellence, continuous innovation, and strategic growth initiatives.
With a strong foundation and a clear vision for the future, the Group is well-positioned to sustain its momentum and expand its footprint in Malaysia’s steel industry.
For more information, visit https://www.colform.com.my/
