ACE Market
Industrial (Precision Engineering)
Shariah Compliant
Grade: B
AMBEST
Bursa Ticker: AMBEST | Listing Year: 2026
Offer Price
RM 0.25
Sifu Target Price
RM 0.34 (+36.0%)
Retail Oversubscription
46.1x
Underwriter (IB)
Malacca Securities
Key Dates & Offering Details
Application Closing
TBA
Listing Date
06-Feb-2026
Target P/E Ratio
18x
Total Enlarged Shares
510.00 M
Free Float
22.0%
MITI Special Allocation
No Tranche
Analyst Commentary & Hunter Insight
HISTORICAL OUTLIER: Massive performance pop that defied standard grading.
Growth Catalysts & Strategic Moats
- Dasar NSS Negara (National Semiconductor Strategy): Ambest mendapat manfaat langsung dari dasar NSS 3-fasa yang diumumkan oleh Perdana Menteri pada 2024.
- Upside Potential Tinggi: Pengiraan 'Cincai-Cincai' Sifu mengunjurkan target PE 18.0x dengan nilai wajar **RM 0.45** (+80% upside potential dari harga IPO RM0.25).
- Katalis vs Angka Kewangan: Ambest dan AMS membuktikan bahawa kajian IPO bukan sahaja melihat angka, tetapi melihat tema pemangkin yang besar.
Financial Performance Summary
| Financial Metric | FY23 | FY24 | FY25 | Projected (FY F) |
|---|---|---|---|---|
| Revenue (RM) | 25.00 M | 35.00 M | 39.78 M | 51.10 M |
| Profit After Tax (PAT) | 4.00 M | 6.00 M | 7.50 M | 9.63 M |
| EPS (sen) | 0.78 | 1.18 | 1.47 | +69.3% |
Utilization of Proceeds
Debt repayment, new machinery, working capital
Peer Comparison & Valuation Context
Peer Comparison: PE Terbitan (Forward) = 10.05x. Sangat murah berbanding peers industri yang biasanya berdagang sekitar 15.5x PE.
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