MyAxis Expects New Facility To Contribute To Revenue In 2QFY2026

KUALA LUMPUR, June 30 (Bernama) -- Meat processor and distributor, MyAxis Group Bhd, expects its upcoming processing facility in Bukit Kayu Hitam, Kedah to start contributing to its revenue in the second quarter of the next financial year (2QFY2026).

The company’s current financial year ends on July 31, 2025.

Executive chairman Datuk Tan Hwa Sing said the company plans to invest RM11.3 million in the new facility, which would double the company’s annual poultry processing capacity to 708 tonnes and triple its red meat handling capacity to 1,870 tonnes.

"The new facility will also increase its storage capacity to 566.0 tonnes from the current 53.0 tonnes,” he told reporters in a press conference in conjunction with the company's listing today.

He also said that following the company’s listing on the LEAP Market today, it has outlined a plan to transfer to the ACE Market within two years.

Tan added that the company has ventured upstream into the processing and sale of poultry and red meat products through its wholly-owned subsidiary, KK Fresh Frozen Sdn Bhd.

“With the expanded processing and storage capacities, the group aims to grow its customer base, particularly among food and beverage providers, hotel chains, and processed food manufacturers. We have increased our customer base to 300 nationwide, up from 20 customers in 2024,” he said.

Meanwhile, the new processing facility, with a built-up area of 17,567.76 square feet, is expected to be fully operational by 2026.

Asked about the supply of poultry products, Tan explained that 50 per cent of its products are imported from Thailand, while the remaining 50 per cent comes from Malaysia and China.

“We foresee this percentage ratio to remain about the same, with imported products from Thailand, ensuring product quality for frozen meats,” he added.

MyAxis aims to raise RM5.29 million through a private placement of 44.1 million new shares at 12 sen apiece, implying a market capitalisation of RM40.9 million upon listing.

The proceeds will be used to repay bank borrowings (RM3 million), purchase new machinery, support working capital, enhance branding and marketing, and defray listing expenses.

-- BERNAMA