DSR TAIKO DEBUTS ON LEAP MARKET AT 92 SEN; PREMIUM OF OVER 200 PCT

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, July 6 (Bernama) -- DSR Taiko Bhd made a strong debut on the LEAP Market of Bursa Malaysia Securities Bhd today by opening at 92 sen per share -- a premium of 62 sen (over 200 per cent) over its reference price of 30 sen.

At the opening bell, the company -- which specialises in the full spectrum of the durian agribusiness value chain -- saw about 130,000 of its shares traded.

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The group’s listing was the 18th on Bursa Malaysia and the fourth on the LEAP Market year-to-date.

Chief executive officer, Datuk Ng Lian Poh said the group has raised gross proceeds of RM25.75 million, making it the highest funds raised through a LEAP listing so far.

“The funds raised have been mostly utilised for the acquisition of durian plantation landbank in Bentong.

“This will increase our durian yield which will allow the group to venture into the overseas markets, while the listing will make it easier for us to tap into the equity market to expand our landbanks,” he told Bernama.

He highlighted that the prices of durians are mixed and based on locations, adding that in Raub and Bentong, Pahang, the Musang King durian farm price has increased to RM55 per kilogramme (kg) compared to RM38 per kg last year.

“There are several factors that contributed to the higher price, such as higher demand and lower supply as well as the unfavourable weather,” said Ng.

DSR Taiko owns 33 parcels of durian plantation land in Raub and Bentong, with an aggregate landbank of 40.08 hectares.

Through a joint venture partnership with Daily Fresh International, the company has developed and commercialised a variety of downstream durian-based products.

Currently, the company’s products are being sold online and are also available in physical stores such as their D’Masking flagship stores located in Bentong and Lot 10 shopping complex in Kuala Lumpur, as well as selected Daily Fresh Kiosks in Malaysia.

-- BERNAMA