CORP BRIEF: Mobilia, Frontken, Teladan Setia and Leong Hup

Mobilia makes strong debut on ACE Market

MOBILIA Holdings Bhd made a strong debut on Bursa Malaysia’s ACE Market yesterday, as it opened at 65 sen, a premium of 42 sen from its offering price of 23 sen. At the opening bell, the company saw 17.07 million of its shares changing hands. The home furniture com- pany exports to more than 45 countries and most of its revenue is contributed by clients from North and South America, Asia, Europe, North Africa and locally. Mobilia said the global furniture consumption is expected to grow at a compound annual growth rate (CAGR) of 2.8%, while Malaysia’s furniture export is likely to grow at a CAGR of 5%. For the pandemic-impacted financial year 2020 (FY20), its revenue was lower at RM44.7 mil- lion from RM75.6 million recorded in FY19. — Bernama

Frontken’s 4QFY20 net profit rises to RM23.3m

FRONTKEN Corp Bhd’s net profit rose to RM23.29 million in the fourth quarter ended Dec 31, 2020 (4QFY20), from RM18.2 million in the same period the previous year. In a filing to Bursa Malaysia yesterday, the company noted that its revenue rose to RM101.04 million from RM88.89 million, an increase of 13.7% compared to 4Q19, mainly contributed by its subsidiaries in Taiwan, Malaysia and the Phi- lippines. For FY20, the cumulative net profit soared to RM81.97 million, compared to RM69.17 million for FY19. — Bernama

Teladan Setia to raise RM77.3m from IPO for expansion

TELADAN Setia Group Bhd plans to raise RM77.3 million in IPO in the ACE Market of Bursa Malaysia. Melaka-based Teladan Setia is a property developer with a diversified port- folio of developments comprising landed, low- rise and high-rise residential properties, as well as landed shop houses, offices and retail shops. It has completed property projects with a total gross development value of RM2.1 bil- lion. It currently has an undeveloped land- bank totalling approximately 73.9 acres (30ha), of which majority is located in Melaka, the company noted in a statement yesterday.

Leong Hup’s net profit slips to RM113m in FY20

LEONG Hup International Bhd’s net profit for the financial year ended Dec 31, 2020 (FY20), slipped to RM113.15 million from RM150.58 million in FY19. Revenue decreased margin- ally to RM6.04 billion from RM6.05 billion pre- viously, the company noted in a Bursa filing yesterday. However, on a quarterly basis, its net profit almost doubled to RM52.56 million in the fourth quarter of FY20 (4QFY20) against RM29.53 million in 4QFY19, while revenue for the quarter rose 4.1% to RM1.61 billion from RM1.54 billion in the same quarter previously. — Bernama