DSR Taiko Bhd, a durian wholesale company, plans for listing through introduction on the LEAP Bursa Malaysia Market.
Armed with an issued capital of 312.94 million shares at 30 sen each, they plan to explore the equity market in the future for fundraising.
It is understood that, based on the latest practice date (LPD) of April 29, 2022, DSR Taiko has an issue of RM49.46 million out of 312.94 million shares.
According to the listing calculation of 30 sen per share, the market capitalization of DSR Taiko could reach RM93.88 million if the listing on June 27, 2022 as scheduled to receive approval by the Exchange.
According to its filing with Bursa, the proceeds of RM25.75 million raised from the issuance of 85.84 million shares at a price of 30 sen to 54 pre-listing investors were used in part as in LPD.
He explained in the filing, among the pre-listing investors were DSR Taiko co-founders Datuk Ng Lian Poh and Ng Soh Kian as well as his wife Datin Lee Ah Noi who took 3.5 million shares (1.12%), Lian Poh's younger brother Ng Lee Peng (0.27%). ), Soh Kian's sister Ng Sok Leng (0.32%) and Soh Kian's brother -in -law, Tee Pee Hoe (0.64%).
Meanwhile, for the financial year DSR Taiko ended 30 June 2020 (FY20) recorded a loss after tax (LAT) of RM169,000 on revenue of RM303,000.
For FY21, LAT grew to RM473,000 despite revenue soaring to RM1.17 million.
On the other hand, DSR Taiko’s main source of revenue is derived from the sale of fresh durians purchased from its suppliers as well as retail products sold.
DSR Taiko is also believed to be planning to expand their durian farm in addition to conducting research and development (R&D), commercializing durian -based products and introducing Internet of Things (IoT) solutions in its operations.
