ACE Market company, SCC Holdings Bhd, made its debut on Bursa Malaysia today with a premium of 12.5 sen at 90.5 sen over its offer price of 78 sen.
Its managing director, Francis Cher Sew Seng, said the strong performance was a reflection of the public's confidence in the group which planned to further expand regionally to ensure growth.
"SCC may acquire companies in the same industry in the region if the opportunities arise. The group currently has operations in Indonesia, China and Brunei," he told a media briefing after the listing ceremony in Kuala Lumpur today.
SCC and its subsidiaries, Anitox Malaysia Sdn Bhd and SCC Corp Sdn Bhd, have been involved in the animal health product business for about 38 years.
Currently, the group has two business segments namely, animal health products and food service equipment, which accounted for 51 per cent and 49 per cent respectively of its total revenue.
SCC is a supplier of non-antibiotic animal health products to local livestock farms and feed millers, particularly those in the poultry and swine livestock industry.
The group also supplies and distributes a wide range of food service equipment like rapid cooking ovens, pressure fryers and popcorn ingredients.
Its clients include Charoen Pokhand Group, Emivest Bhd, KFC Malaysia, Golden Screen Cinemas and Giant Hypermarkets.
Cher said SCC expected to raise RM8.7 million from the listing which it would use for capital expenditure, programme development, working capital and listing expenses.
He said the group planned to expand into Vietnam and Cambodia through strategic alliances.
"Currently, the group is in discussions with some of our existing customers, who are expanding regionally, to supply their overseas ventures in Vietnam and Cambodia," he said.
Cher said SCC has also identified aquaculture feed additives as a new target market.
"The sector is lucrative and growing and this presents the group with an avenue to increase its market share," he said. -- Bernama
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