Polymer Link Holdings Berhad (“Polymer Link”) and its subsidiaries (“Group”) are a regional and international plastic manufacturer specialising in manufacturing plastic powder and colour masterbatch for rotational moulding applications.
The Group is pleased to announce that it has received approval-in-principle from Bursa Malaysia Securities Berhad (“Bursa Malaysia”) to list on the ACE Market of Bursa Malaysia.
Established in 2011, the Group has progressively built a strong presence within the plastic rotational moulding supply chain. The Group specialises in the formulation, compounding and grinding of plastic powder; both for general and specialty applications, as well as the production of colour masterbatch.
These materials are key ingredients used in rotational moulding to produce large, hollow plastic products including insulated cooler boxes, water tanks, diesel fuel tanks, playground equipment and modular housing components.
Polymer Link operates through its subsidiaries in Malaysia, the Philippines, India, Australia and the United States, serving a diverse customer base across more than 10 countries.
The Group operates three (3) manufacturing facilities strategically located in Selangor, Malaysia; Pampanga, Philippines, and Daman, India. This is complemented by overseas sales offices in Australia and the United States to support its diverse customer portfolio in the region.
For the financial year ended 30 September (“FYE”) 2024, the Group recorded total revenue of approximately RM145.4 million, mainly contributed by its key markets i.e., the Philippines, India, Australia and Malaysia which accounted for 42.3%, 25.9%, 13.6% and 7.5% respectively, of total revenue.
Mr. Koh Song Heng, President and Group Chief Executive Officer of Polymer Link, commented,
“We are truly honoured to receive Bursa Malaysia’s approval-in-principle for our listing on the ACE Market of Bursa Malaysia. This milestone reflects the dedication of our team over the years and reinforces our long-term commitment to delivering customised polymer solutions to customers worldwide.
With the added credibility and resources that come with being a listed company, we are confident in our ability to accelerate our growth trajectory and further strengthen our presence in the regional market.”
He added, “The IPO proceeds will be channelled towards the expansion of our physical footprint in Australia, the acquisition of new manufacturing line in Malaysia to support our regional expansion, as well as investments into working capital to expand sales to customers in Poland. These strategic initiatives are critical to supporting our next phase of scale-up and customer delivery.”
According to the Independent Market Research report by Vital Factor Consulting, the market size (represented by production value) for polyethylene powder in primary form in Malaysia was valued at RM2.8 billion in 2023.
Based on Polymer Link’s revenue from manufacturing of plastic powder from its Malaysia operations for the FYE 2023, the Group currently holds approximately 1.0% market share, and is well-positioned for further expansion given its technical expertise and international reach.
As stated in the Group’s exposed prospectus, Polymer Link’s IPO will involve a public issue of 97,145,700 new ordinary shares, alongside an offer for sale of 24,080,100 existing shares, bringing the total to 121,225,800 ordinary shares, which represents approximately 21.6% of the enlarged share capital of 560,000,070 ordinary shares.
Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for the IPO.
For more information, visit https://polymerlink.net/.
