TT Vision makes impressive market debut
Pautan
KUALA LUMPUR: TT Vision Holdings Bhd
’s (TTVHB) debut on the ACE Market yesterday saw its shares opening at RM1.49, which represented a 338.24% premium over its issue price of 34 sen per share.
The opening volume was at 7.05 million shares transacted.
The company, which moved up to the ACE Market from the Leap Market, said it was confident of its prospects for growth, moving forward.
“A lot of people have been asking me about the opening price.
“It just went crazy and we did not expect this kind of response and I don’t know how this came about.
“I think it is an indication that the market is confident about us and that people are confident about our business. But we don’t really pay too much attention to the share price but rather to deliver the numbers (profit) for investors,” said its chief executive officer and executive director Goon Koon Yin at a press conference after its listing ceremony yesterday.
At the close, TTVHB’s shares settled at RM1.28, giving it a market capitalisation of RM599mil.
Goon said, “We moved from the Leap Market to the ACE Market within 3.5 years.
“We aim to continue growing our company to greater heights and increase our market share in other prominent semiconductor, optoelectronics and solar cell markets such as the United States, Germany, South Korea and China.
“The listing comes at an opportune time where we intend to capitalise on our listing status to sustain our growth momentum going forward.”
He noted the company would like to continue on its double-digit growth trajectory that was seen in the past two to three years.
“This is our minimum expectations that we have internally as well,” he added
Goon also noted the group’s gross profit margins have further room for improvement.
“It is at the low 40s. With economies of scale we can further reduce costs per unit and there is significant room for us here. We will probably see this reflected in our financials which will help sustain our pre-tax profit and net profit,” he said.
Meanwhile, Goon noted that TTVHB’s reliance on China was “significant” and the reopening of the country helped in ensuring its business prospects.
“We don’t see additional headwinds and it eases the way we do business in China, as we can travel more and meet up with customers more often there.
“All this will help our business in China and they are growing – while pumping in money into semiconductors and we are very much involved in this area,” Goon said.
