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ACE Market-bound Ecomate aims to raise RM16.2m from IPO

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ACE Market-bound Ecomate aims to raise RM16.2m from IPO

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KUALA LUMPUR (Oct 15): Ecomate Holdings Bhd, en-route to a listing on the ACE Market of Bursa Malaysia Securities Bhd on Nov 8, 2021, aims to raise RM16.2 million from its initial public offering (IPO) exercise.

Managing director Jason Koh Jian Hui said the IPO, which involves a public issuance of 49 million new shares at the price of 33 sen per share, is expected to raise the market capitalisation of the company to RM115.5 million.

“We intend to allocate the proceeds from the IPO to acquire machinery and equipment (RM6 million), [for the] construction of our third factory which is expected to house three additional production lines and one block of four-storey detached hostel (RM2 million), and purchase of raw materials (RM5.3 million).

"[Meanwhile] the balance RM2.9 million is to defray estimated listing expenses," he said at the virtual launch of the company's prospectus in conjunction with the IPO on Friday.

Established in 2016, Ecomate is an export-oriented furniture producer based in Muar, Johor, focusing on the production of ready-to-assemble (RTA) furniture products where it undertakes its own design, development production, as well as marketing and sales activities.

Koh said the group offers a diverse range of flat-packed furniture products, including but not limited to coffee tables, console tables, bookshelves, as well as wardrobes, and exports to customers from more than 30 countries across six continents — Asia, Europe, North America, Australasia, Africa, and South America.

"Ecomate has recorded tremendous growth in its financial performance since inception, with revenue and profit after tax and non-controlling interest (PATNCI) grew at an astounding compounded annual growth rate of 52.8% and 59.7%, respectively, from financial year ended February 2019 (FY19) to FY21.

"The revenue and PATNCI stood at RM56.3 million and RM8.5 million, respectively, for FY21," he added.

Koh said the lockdown restrictions and remote working policy implemented around the world to curb the spread of Covid-19 have propelled the demand for furniture as consumers were increasingly pivoting towards purchasing furniture products online to enhance their home experience.

"Hence, we are capitalising on this opportunity swiftly as we primarily sell RTA furniture products that are shipped in flat packs.

"By comparison to fully-assembled furniture, our flat pack format is very much suitable for sale via e-commerce platforms due to its compact nature that enhances logistics efficiency," he said.

Moving forward, Koh said the group is upbeat on its outlook as it accelerates its expansion plans to keep up with the robust order flows, especially via e-commerce sales channels for RTA furniture.

"The group is currently kept busy fulfilling the sizable order backlogs to catch up on the lost time during the Full Movement Control Order," he said.

On the distribution of the 49 million new shares, Ecomate will offer 17.5 million shares to the Malaysian public, as well as 8.75 million shares to eligible directors, employees and persons who have contributed to the success of the group, and 22.75 million shares by private placement to selected investors.

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Please introduce yourself using a movie/ a cartoon/ an anime character that resemble your personality/character. Thank you.

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Please introduce yourself using a movie/ a cartoon/ an anime character that resemble your personality/character. Thank you.

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Hello everyone. Belle has the heart of learning, she loves reading and although she is quite passive, she is never afraid for an adventure....Because she believes that people should never stop learning, never stop improving, never giving up and always keep moving forward..And these personalities of Belle resemble myself, I am Madam Ninalyn...Nice to meet you all!

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He is an arrogant, out-going but caring person !
As a child he were someone's ruler, brat or bully. But now that him grown up a little, he became aware of the injustices of this world. He like to hang out with friends or meet new people. He don't like being alone.
What matters the most to him is family, and he may have some unknown qualities that could make him more loved by people.
Not bad !

And thats me. Hi,im Nur syahirah afiqah binti raijon. Can call me syah . nice to meet you 🥰

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She is character who is constantly cheery. She always looks on the bright side of things and strives to focus on the positive in every circumstance, even if there are times she can't.
She enjoys to meet new people, try new things and have fun.
Judy is always eager to work hard and dream big.
When Judy wants to pursue anything, she follows it through and does everything to make it happen.

and Judy's personality is close to mine. Hi, I'm Effey Lussenny Paulus. Nice to meet you ☺

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Please fill in the names of your group members for both Case Study & Video Presentation + Report...

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hello to everyone! I adore Anne Hathaway, who played Jules Ostin in the film The Intern. She is a hardworking woman with a passion for being an easygoing leader to others. In the midst of managing his company, she still prioritised her family. She also treats all of her employees with equality and friendliness. Julie Ostin's teamwork attitude with her staff and the way she works astound me and bear little resemblance to my own. I am nur husna afiqah binti azahar but all of you can call me juna. Nice to meet you all!

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hello!! This is Elsa from Frozen. I chose her as a character that more or less resembles me. She feels insecure with the power she has and tried to avoid everyone even cover her power. However, when she has guts to stand for herself, she will. Plus, she will protect her loved ones even it takes her to across the ocean. Not only that, Elsa is a person that will not believe or give her trust to other people easily. A character that use actions more than words to prove & always try her best in finding ways in order to help
people just to bring their smile back. Lastly,  prefer a small circle of people since she feels more comfortable with her close friend even though she can be friend with everyone and tend to focus on her internal thought than external world. This is all from me, Nur Liyana Binti Rusli, Thank you ❤️

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Ms. Espinoza is retired and depends on her investments for her income. Mr. Liu is a young executive who wants to save for the future. Both are stockholders in Scaled Composites LLC, which is building SpaceShipOne to take commercial passengers into space. This investment’s payoff is many years away. Assume it has a positive NPV for Mr. Liu. Explain why this investment also makes sense for Ms. Espinoza. Let's discuss! You can agree and disagree with others but please add comment or justification. Post your answer here - make sure you write down your full name ya for student class participation-evaluation purpose. Thank you.

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He is intelligent, slow-witted (sometimes), kindhearted, helpful, friendly.
Even though he is a robot cat but he always have an effort to help people surroundings him and comfort them. He always have a solution to every problem to make his daily life easier.
Other than that, his life is always more exploring new things especially related to technology and whatever happens has lessons to be learned so he can learn from his mistakes.

And this cartoon resembles me a lot and my name is Hazira binti Manadio. Nice to meet you all!

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Jade's fun and outgoing but she can be shy sometimes. She might seem arrogant but she's very friendly as well. Jade believes that education is the key to all successes in life. As much as she loves being in school, she's always out with her friends and balances both school and social life efficiently.

The character jade resembles me, Kistina :) the world will collapse one day, it's now or never.

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This is Anjali from Kabhi Khushi Kabhi  Gham played by actress Kajol.  I personally think that this character resembles me so much in aspect such as very loud, expressive and outgouing.  She is very lively and not afraid to voice out her opinion.  Also, the best part is she protect all of her loved ones and will do anything for them at all cost.
Hello, my name is Atiqah Syahirah binti Zaharudin and it is a pleasure to meet you all! Hope we all get along well

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Since the NPV has been assume to be positive and the payoff is many years away, it make sense for Ms. Espinoza as she rely on investments' as her income. -Nurul Azwani binti Japar

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Miss Bell is a sweet and fun fairy of the Pixie Hollow. Although she looks like the kind that is hard to get close with, she is actually cool when people get to know her and even stands up for the people she cares about most. She's also very loyal and dedicated towards things she loves, thus making her a visionary tinker. Her wide imagination and the spirited mind she has, give the vibes of a fearless woman that is capable to do anything she wanted to do.
Hi! I'm Maryam Aqilah binti Azmi and I believe Tinker Bell mirrors me the most. Looking forward to learning with you guys! :)

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I like Patrick Star from Spongebob Squarepants Show because he is so cute. (Well I like cute things such as cat and the person who is reading this). He's so dumb (in a good way) and kinda resembles me. I'm a class clown since my primary school and always act dumb to make others laugh. Most importantly, he is always there for his bestfriend, Spongebob. For example, in the episode where Spongebob broke his gluteus maximus and opted to stay indoors for the rest of his life, Patrick (and Sandy) do anything they can to bring back Spongebob's self-confidence again. That's why I like Patrick, because he taught me that me about the importance of friendship and to make others happy. That's all from me, I'm Mohd Izzan Hisyam, thank you.

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Hi, this is Princess Merida from Brave Disney's Movie. She a brave, adventurous,  stubborn, rebellious, and headstrong girl who does not match the usual princess character. Merida also has a soft heart, especially when it comes to her family.

This film depicted her struggle with wanting to be herself rather than the person her family expects her to be. As everyone wishes to live a free life, Princess Merida wishes to do the same.

The character reminds me of myself, Siti Natasha Binti Surian Sah. I wish I could live like that, but I know there is nothing free in this world. Hahaha. By the way, it's a pleasure to meet you all.

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Hi, this is Princess Vivian (Sofia The First)

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Hi, this is Princess Vivian (Sofia The First)

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Hello everyone. Vivian was a timid girl who struggled to communicate with others, hence she had no friends. There were also many false rumour spread about her that she was never able to tell that it is wrong since she lacked the courage. However, after being paired with Sofia for an art class project, the two became great friends, and Sofia helped Vivian grow more confident and overcome her anxiety of being around and talking to others... I think that Vivian personalities almost resemble to myself except, I still nervous excessively hahaha. Hi, I am Flora Mah.. hehe

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The investments make sense for Ms. Espinoza because the value of a company's stock will increase due to the investment that she makes. Technology is evolving from time to time, and it is possible that one day, people will go to space as a commercial passengers. From that, the company will get a massive income, as the cost of going into space is not cheap. Therefore, if the company's income increases, Ms. Espinoza, as a shareholder, will also get a profit. - Mohd Izzan Hisyam

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I agree that the investment will make sense for Ms Espinoza. It is because a positive NPV means the investment is worthwhile and a negative NPV means the investment is not good for the investor. NPV discounts each inflow and outflow to the present, and then sums them to see how the value of the inflows compares to the other. The PV of the inflows is greater than the PV of the outflows. The money earned on the investment is worth more today than the costs, therefore, it is a good investment.

- Nor Hayati Ahmad.

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In my opinion, I agree that Ms. Espinoza with that investment because the investment has a positive NPV for Mr. Liu and it can showed us that the profitability of the investment. Futhermore, Ms Espinoza fact that the return has not specified and it takes a year few years to bring a profitability to her income even when her get retirement. (Nur Shaza Lawrence)

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Thank you everyone for your participation in this discussion. Here is the suggested answer for the discussion question:

The value of the firm's shares will increase because there is an increase in firm's wealth. Thus, Ms. Espinoza may plan to sell some or all of these valuable shares in order to get her retirement income.

Thank you.

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From the article given, from my point of view,  Ecomate Holding Bhds used Initial Public Offering as a method to raise capital. In general, a private companies, on the other hand, may decide to go public by issuing an initial public offering (IPO). This is done by issuing stock on the primary market usually to institutional investors after which shares are traded on the secondary market by investors. From the article, the example that given was managing director Jason Koh Jian Hui said the IPO, which involves a public issuance of 49 million new shares at the price of 33 sen per share, is expected to raise the market capitalisation of the company to RM115.5 million. - Norhayati Ahmad

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Based on the article , we can see that the Ecomate Holdings Bhd used Initial Public Offering (IPO) to raise the capital. They offering new public securities which involves a public issuance of 49 million new shares at the price of 33 sen per share, is expected to raise the market capitalisation of the company to RM115.5 million.
- NUR IFFAH ELLYANA BINTI ADNAN

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Based on my opinion, Ecomate Holdings Bhd. used the IPO to raise its capital. As stated in the article, its offering the public securities with involving the 49 million of the public issuance shares of the price of 33 sen per shares, in return to expected raise the market capitalisation company to RM155.5 million. -Nur Shaza Lawrence-

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Based on my understanding, Ecomate Holdings Bhd use an IPO(Initial Public Offering) to raise their capital. They are issuing new public securities, which would result in the issuance of 49 million additional shares at a price of 33 sen per share, bringing the company's market capitalization to RM115.5 million.-Nurul Azwani binti Japar

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Tutorial Chapter 2 (11am-1pm: 27/10/2021) Topic: How this company raises its capital?

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Tutorial Chapter 2 (11am-1pm: 27/10/2021) Topic: How this company raises its capital?

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Read this news article "https://www.theedgemarkets.com/article/ace-marketbound-ecomate-aims-raise-rm162m-ipo".
Give your opinion about the method used by Ecomate Holdings Bhd to raise capital.

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Try to do Chapter 5-7 questions from the following past year. Later mdm will share the solutions. Thank you.

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Try to do Chapter 5-7 questions from the following past year. Later mdm will share the solutions. Thank you.

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1. C 2. A 3. A 4. C 5. A 6. C 7. D 8. A 9. C 10. B 11. A 12. A 13. B 14. C 15. D 16. D 17. C 18. C 19. B 20. D 21. A 22. D 23. B 24. D 25. A 26. D 27. C 28. C 29. C 30. D

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i) An expenditure of RM1.5 million on equipment that has not yet been made and will be made only if the project is accepted(incremental)

ii) Costs of research and development amounting RM500,000 undertaken in connection with product during the past 6 years(non-incremental)

iii) The resale value of a machinery at the end of the project’s life. (incremental)

iv) Salary of the employee who will only be employed only if the project’s accepted. (incremental)

v) Land the firm owns that will be used for the project but otherwise will be sold for RM500,000 its market value. (incremental)

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Read the article and provide your opinion about the issue discussed in the article.

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Read the article and provide your opinion about the issue discussed in the article.

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What is the efficient market hypothesis?

The efficient market hypothesis (EMH) is an investment theory that states it's impossible to consistently outperform the overall market, or 'beat the market'. The theory is based on the assumption that all relevant information will be 'universally shared' and so securities always trade at their fair market value.

The idea was put forward by Eugene Fama in his 1970 book titled 'Efficient Capital Markets: A Review of Theory and Empirical Work' where he stated no one could continuously make investment returns over and above an average benchmark, such as the S&P 500. He conceded that an investor might manage to find a stock to bring them short-term profits, but over the long term, there's no way to bring in higher-than-average returns.

What is the strong form efficient market hypothesis?

Strong form EMH is a version of the theory that states all information about a stock - both public and private - is completely accounted for by the market, so there is no way an investor can achieve above-average returns.

What is the semi-strong form efficient market hypothesis?

Semi-strong form EMH is a slightly diluted version of the theory, which states that all public information is priced into market prices so the only way an investor can boost their returns is to use information that is not available to the public.

What is the weak form efficient market hypothesis?

Weak form EMH suggests that stock prices reflect all historical data, so no technical analysis will be able to create outsized returns. However, it does concede that fundamental analysis can be used to identify undervalued and overvalued shares to increase their chances of beating the market.

What are the implications of the efficient market hypothesis?

The main implication of the efficient market hypothesis is that stocks always trade at their fair value, meaning a company's shares can never be overvalued or undervalued. If the theory is true it would be impossible for a trader or investor to 'beat the market' because any information that could be used to predict market movements is already priced in.

However, we know that the market doesn't respond like this in a large part due to the psychology of individual participants. Traders can overreact to new information, which can cause price swings - both positively and negatively.

Arguments against the efficient market hypothesis

One of the main arguments against EMH is the occurrence of stock market bubbles and market crashes. The very fact that share prices can rise so high and fall so rapidly is a clear indication that shares don't always trade at their fair value.

For example, the dot-com bubble saw internet companies' share prices rise to extreme heights in just a couple of years - the valuations were not based on income, but on optimism that these tech firms would experience growth. When the bubble burst, it caused a global bear market as traders rushed out of their positions. Share prices went from one extreme to the other, based on market sentiment rather than fundamentals.

Fama did concede that the EMH wouldn't work 100% of the time because random events will always occur, but he did say that prices would always correct. However, the EMH doesn't include any definitive timeframe for how long it would take time for markets to respond, so there is no way to know when the EMH would consider a market price 'fair'.

Another criticism of the EMH is that investors don't always respond in the same way to information due to differences in valuation methods - some look at the value of a stock, others look at growth opportunities.

And a final criticism is that we have very prevalent examples of people who have beaten the market. You just have to look at famous investors like Warren Buffet to see that one investor can achieve large returns while others can't. Under EMH, if one investor is profitable then the market as a whole will be - but this just isn't true. The only way the theory believes individuals can make outsized returns is through pure speculation, as no fundamental or technical analysis can guarantee results.

Summary: are markets efficient?

There is a growing belief that markets are more efficient now than they have ever been thanks to the rise of computerised algorithms and the ease at which information about shares is available. However, as most decisions are still made by individuals, there is always room for error. Human emotions like greed and fear are known to get the better of investors, which still leads to market anomalies.

We can see an 'inefficient' market movement in the recent Reddit stocks trend, in which retail investors using the r/WallStreetBets forum were able to increase the value of GameStop and other shares well beyond their true value.

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implications of efficient market hypothesis

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importance of efficient market hypothesis to investors

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The efficient market hypothesis (EMH) is an investment theory that states it's impossible to consistently outperform the overall market, or 'beat the market'. The theory is based on the assumption that all relevant information will be 'universally shared' and so securities always trade at their fair market value.

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Based on the article above, The efficient market hypothesis (EMH) is a financial theory that says, persistently surpassing the overall market is impossible. It is predicated on the presumption that all relevant information will be 'globally shared,' resulting in securities trading at their fair market value at all times. Eugene Fama (1970) proposed this theory, claiming that no one could consistently outperform an average benchmark in terms of investment returns. He admitted that an investor might be able to identify a stock that will make them money in the short term, but there is no way to make more money in the long run. there are 3 basic level under EMH, strong form, semi-strong form, and weak form efficient market hypothesis. The efficient market theory states that stocks always trade at fair value, which means that a company's stock can never be undervalued or overvalued. If the hypothesis is correct, it will be impossible for a trader or investor to 'outperform the market,' because any knowledge that may be used to forecast market volatility is already priced in.

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Read the article. In your opinion, what are the factors affecting the decision of a company's dividend policy? Briefly explain.

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Special Report: Almost 100 companies on Bursa offering higher dividends than FD

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A RM50,000 placement in a 12-month fixed deposit (FD) these days would provide the depositor with a maximum interest of only RM1,100, or 2.2%, which is below the headline inflation figure.Simply put, a depositor would not earn enough interest on his capital to counter the rising prices of goods and…

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Based on the article, my understanding is that when a corporation with a promising future has a low dividend, and vice versa. A corporation that is rapidly expanding will have a bigger demand for funds to support that expansion. As a result, businesses with strong growth prospects are more likely to maintain a higher portion of their profits.-Nurul Azwani binti Japar(2021112121)

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The article discuss on the efficient market theory. According to the efficient market theory, new information is promptly reflected in stock prices as it enters the market. There is a growing view that markets are more efficient now, in my opinion, due to the growth of computerised algorithms and the ease with which information on companies is available.-NURUL AZWANI BINTI JAPAR (2021112121)

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Based on the article, my opinion the financial position of a corporation is the one of the elements influencing a company's dividend policy decision. Innoprise Plantations Bhd, who traded in Bursa, has the highest stated of the dividend yield of all the plantation businesses who is listed on Bursa are exchange at 10.2 percent.
Furthermore, the company's net profit has been extraordinary this year as a result of high commodity of the prices, as has been the case for many of its competitors as a whole. As a result, my opinion the inflation may play a role on the fluctuation. -NUR SHAZA LAWRENCE (2021112019)

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Based on the article, it discuss about the efficient market hypothesis(EMH) .  It has three types which is strong, semi strong and weak. For the strong one  has version that state all information about stock from public and also private sides. Next for the semi strong it states all public information that is priced into market prices so the only way an investor can boost their returns is to use information that not show to public. Last theory is from the weak side which is suggests that stock prices reflect all historical data, so no technical analysis will be able to create outsized returns. Therefore in my opinion all of the theory has their own advantage and it depends to the individual to choose which one is suitable with their type of business. (NUR IFFAH ELLYANA BINTI ADNAN)- 2020866596

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There are numerous methods for a business to raise capital, including bootstrapping, utilising venture capitalists, utilising primary sources of funding, and conducting initial public offerings (IPO). Ecomate Holdings Sdn Bhd, raised capital through an initial public offering. For existing private investors, the transition from a private to a public company can be a critical opportunity to maximise their investment returns. An initial public offering (IPO) raises capital through the sale of shares on the primary market. Additionally, it enables the founders and early investors of the company to profit fully from their private investment. According to the article, Ecomate Holdings Bhd intends to issue 49 million new shares at a price of 33 sen each to boost the company's market capitalization to RM115.5 million.

Mohd Izzan Hisyam
2020897352

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Based on the article we can see that the business prospect it the factor of the dividend. Because the prices of certain equities have fallen so dramatically this year, the dividend looks more tempting than it usually does. To put it another way, a depositor would not earn enough interest on his money to balance growing goods prices, resulting in capital loss. - Nuriffah Ellyana binti Adnan(2020866596)

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The article discusses the efficient market hypothesis. According to the efficient market hypothesis (EMH), it is impossible to consistently outperform the market as a whole. Strong Form EMH is a variant of theory in which the market takes into account all available information about a stock, both public and private, and thus no investor can earn above-average returns. Semi-strong form EMH is a slightly diluted version of theory since all public information is priced into market prices, the only way an investor can increase returns is to use private information. If the theory holds, no trader or investor can 'beat the market,' as all market information has already been priced in. Objections to the EMH One of the primary arguments against EMH is the existence of stock market bubbles and crashes. However, the EMH makes no mention of the period required for markets to respond before the EMH considers a market price to be 'fair’.

Mohd Izzan Hisyam
2020897352

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According to the article, certain stocks' prices have fallen at the end of 2021, and the dividend appears more appealing than it would be in normal circumstances. In other words, a depositor would not earn enough interest on his money to offset rising goods prices, resulting in capital erosion over time. Investors seeking a "risk-free" investment should consider fixed-income investments, which both have a place and function in this category. As a result, it is critical to evaluate the company's business prospects, as they will affect the dividend's long-term viability and, consequently, its payout. Additionally, investors should consider whether the increased dividend is a one-time event, the result of asset sales, or the result of increased earnings.

Mohd Izzan Hisyam
2020897352