Hextar Industries Berhad Takes Root on Bursa Malaysia Main Market, Poised to Bloom Across the Region

KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA, July 3, 2024 /EINPresswire.com/ -- Hextar Industries Berhad ("HIB" or the "Company"), a diversified powerhouse, has firmly established its roots on the prestigious Main Market of Bursa Malaysia Securities Berhad ("Bursa Malaysia"). This uplisting marks a blossoming achievement, a testament to HIB's unwavering dedication to cultivating long-term value for its stakeholders.

The strategic acquisition of Hextar Fertilizers Limited in December 2022 served as fertile ground for this milestone. "This acquisition was a game-changer," enthused Mr Benny Ang Sui Aik, Group Managing Director of HIB. "It was a potent fertiliser for our growth, propelling our annual compound fertiliser production by an extraordinary eightfold. This surge solidified our position as a leading fertiliser manufacturer in Malaysia." Leveraging this expanded capacity, the Group delivered a bountiful harvest, boasting a revenue of RM1.29 billion and a profit after tax of RM98 million for the financial period ended 31 December 2022.

HIB's commitment to growth extends beyond fertilisers. In 2023, the company strategically acquired Hextar Mitai Sdn Bhd, an engineering solutions provider serving diverse sectors, and Pacific Office (M) Sdn Bhd, a stationery and office supplies business frontrunner. "These acquisitions were akin to grafting valuable new branches onto our ever-growing tree," explained Mr Ang.

"Hextar Mitai's expertise in engineering solutions across sectors like oil and gas, food and beverage, and even aerospace and amusement parks, injected a powerful new dimension into our offerings. Pacific Office, a stationery and office supplies business leader, broadened our revenue streams and strengthened our presence in essential business services”, he added.

"We are delighted to celebrate our uplisting on the Main Market of Bursa Malaysia," declared Mr Ang. The Main Market listing is akin to sunshine and water for our continued growth. It will enhance our visibility and attract a wider investor base to fuel our next stage of development, brimming with groundbreaking innovations."

“HIB believes in cultivating a sustainable future. "Our diverse fertiliser portfolio, coupled with our robust customisation capabilities, empowers us to deliver comprehensive solutions for a wide range of crops," elaborated Mr Ang. "We are at the forefront of sustainability, pioneering environmentally friendly products like plant-based organic fertilisers. Furthermore, we are actively developing solutions to address critical industry challenges like fertiliser leaching and nutrient run-off."

Looking towards a flourishing future, Mr Alex Sham, Executive Director of HIB, revealed the Group's strategic plans to establish partnerships with local distributors in neighbouring countries with robust agricultural sectors like Indonesia, Thailand, Vietnam, and Myanmar. "This targeted approach will be the seeds we sow for regional expansion," shared Mr Sham. "By partnering with local distributors, we can ensure our solutions reach the farmers who need them most, significantly driving export growth and solidifying HIB's position as a true regional leader in the industry."

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About Hextar Industries Berhad (“HIB”)
HIB is listing on the Main Market of Bursa Malaysia Securities Berhad and through its subsidiary companies, is involved in the manufacturing and formulation of bulk blend, mixture and compound fertilisers, trading of various fertilisers as well as providing crop management solutions. In addition to the fertiliser business, HIB Group also supplies a wide range of industrial products such as machinery, spare parts, conveyor belts, forklifts, industrial batteries, lighting, manufacturing of quarry crusher screens for use in the quarry industry and providing outdoor equipment rental services for chillers, tents and power generators. HIB Group is also involved in the provision of office supplies such as stationaries, papers, computers, printers and office furniture.

The Company’s head office is located in Bayuemas Klang, Selangor. It also owns and operates fertiliser manufacturing facilities in Port Klang, Bintulu, Lahad Datu and Pasir Gudang.

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For further information, please contact Sean Lee, Chief Financial Officer of HIB at sean.lee@hextar .com
To find out more about HIB, please visit www.hextarindustries.com

Sean Lee
Hextar Industries Berhad
+60 12-972 8248
sean.lee@hextar .com
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