Focus Lumber Naik 97%
Sungguh menakjubkan, harga saham Focus Lumber yang baru disenaraikan di Bursa telah melonjak dengan mendadak. Pada hari pertama disenaraikan, harga telah naik daripada 60 sen kepada RM1.18, kenaikan sebanyak 97%.
KUALA LUMPUR: Sabah-based plywood, veneer and laminated veneer lumber (LVL) manufacturer Focus Lumber Bhd, which made its debut on the Main Market of Bursa Malaysia yesterday, was the most actively traded stock and closed with a 97% premium at RM1.18.
Its share price gained 58 sen with 40.29 million shares changing hands. Its initial public offering price was 60 sen.
The company said its business growth would be driven by the continuous demand in the global market for plywood due to its widespread usage.
“Our products are mainly exported overseas. For our financial year ended Dec 31, 2010 (FY10), 87.5% of our total revenue was derived from exports,” said Focus Lumber founder and managing director Lin Fong Ming.
He added that the company planned to invest in new and advanced machinery to enhance its manufacturing process.
Plywood is the main revenue contributor to the company, making up 95.2% of the company’s revenue last year.
As part of their growth strategy, Focus Lumber commissioned a production line for LVL in early 2010, aimed at helping the company diversify into different product market segments. LVL, which is made of recycled wood waste, is becoming more widely used. For FY10, the company recorded a revenue of RM120.4mil, up 17.67% from RM102.3mil earned in FY09. The pre-tax profit for 2010 was RM10.2mil.
Established in 1989, some of the company’s markets included the United States, Taiwan, South Korea, Singapore, Australia, China, India and Mexico.