General Announcement::News Release: SGX welcomes MeGroup Ltd. to Catalist
Issuer & Securities
SINGAPORE EXCHANGE LIMITED
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Date &Time of Broadcast
Announcement Sub Title
News Release: SGX welcomes MeGroup Ltd. to Catalist
Submitted By (Co./ Ind. Name)
Singh-Yeo Wan Xin
Assistant Vice President
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today welcomed MeGroup Ltd. to its Catalist under the stock code "SJY".
MeGroup Ltd. manufactures noise, vibration and harshness ("NVH") components and other non-NVH components primarily for the automotive industry in Malaysia. It is an approved supplier of Malaysian manufacturers of the Honda, Perodua, Mazda and Proton brands of automobiles.
It also owns and operates several 3S and 4S automobile dealerships* for brands such as Honda, Mazda and Peugeot in Malaysia.
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX, said, "We are pleased to welcome the listing of MeGroup Ltd. on SGX Catalist. As the company enters this new phase of expansion of its diversified portfolio of manufacturing and dealership businesses in the Malaysian automotive industry, we look forward to supporting them in their growth journey ahead."
Wong Cheong Chee, Executive Chairman and CEO of MeGroup Ltd., said, "Our listing on SGX Catalist will provide us with a new platform that gives us better access to the capital markets and enhances our position as an automotive parts manufacturer and automotive dealership operator. Our listing will help us to fund our growth plans so that we can generate good returns to our shareholders."
With a market capitalisation of about S$27 million, the listing of MeGroup Ltd. brings the total number of companies listed on Catalist to 212, with a combined market capitalisation of around S$10 billion. This listing will also add to SGX's Consumer cluster, which will now have a total of more than 150 companies with combined market capitalisation of more than S$124 billion.
MeGroup Ltd. Ltd. opened at S$0.23 today.
*A 3S automobile dealership offers the sale of new automobiles, automobile parts and accessories, and the provision of after-sales services. A 4S automobile dealership offers the services of a 3S dealership with the addition of automobile body paintwork and collision repair services.
Total size =463K