ACE Market
Consumer (Tourism)
Shariah Compliant
Grade: B
Golden Destinations Group Berhad
Bursa Ticker: GDGROUP | Listing Year: 2026
Offer Price
RM 0.45
Sifu Target Price
RM 0.45 (+0.0%)
Retail Oversubscription
7.0x
Underwriter (IB)
UOB Kay Hian
Key Dates & Offering Details
Application Closing
2026-04-06T17:00:00
Listing Date
16-Apr-2026
Target P/E Ratio
20x
Total Enlarged Shares
1.00 B
Free Float
25.0%
MITI Special Allocation
No Tranche
Analyst Commentary & Hunter Insight
GDGROUP is a scalable B2B model with a national reach and minimal retail overhead and marketing costs. The company has a healthy PAT of RM28.3m and is a stronger fundamental proxy for tourism compared to its peers. However, the company faces risks such as geopolitical macro shocks, digital disintermediation, and FX/fuel volatility.
Growth Catalysts & Strategic Moats
- Singapore Market Entry
- AI Portal Integration
- Visa Policy Tailwinds
Financial Performance Summary
| Financial Metric | FY23 | FY24 | FY25 | Projected (FY F) |
|---|---|---|---|---|
| Revenue (RM) | 157.04 M | 433.13 M | 592.40 M | 651.64 M |
| Profit After Tax (PAT) | 1.47 K | 13.35 K | 31.61 K | 22.50 M |
| EPS (sen) | - | - | - | - |
Utilization of Proceeds
Business expansion, working capital
Peer Comparison & Valuation Context
GDGROUP maintains a healthy PAT of RM28.3m, making it a stronger fundamental proxy for tourism compared to its primary listed peer Parlo Berhad (PARLO), which is loss-making.
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