ACE Market
Property
Shariah Compliant
Grade: C
KEB Berhad
Bursa Ticker: KEB Berhad | Listing Year: 2026
Offer Price
RM 0.28
Sifu Target Price
RM 0.28 (+0.0%)
Retail Oversubscription
-
Underwriter (IB)
M&A Securities
Key Dates & Offering Details
Application Closing
TBA
Listing Date
TBA
Target P/E Ratio
20x
Total Enlarged Shares
882.39 M
Free Float
-
MITI Special Allocation
Yes (Bumiputera Reserved)
Analyst Commentary & Hunter Insight
🚨 HIGH RISK (GRADE C)
• Sector Headwind: ACE Market property developers exhibit lowest debut win rates & frequent discounts.
• Cash Flow Risk: High working capital lockup in residential projects.
• Verdict: Historically underperforms on debut (-5% to -15%); exercise caution.
• Sector Headwind: ACE Market property developers exhibit lowest debut win rates & frequent discounts.
• Cash Flow Risk: High working capital lockup in residential projects.
• Verdict: Historically underperforms on debut (-5% to -15%); exercise caution.
Growth Catalysts & Strategic Moats
- Acquisition of landbank for development
- Working capital for project development
- Repayment of bank borrowings
Financial Performance Summary
| Financial Metric | FY23 | FY24 | FY25 | Projected (FY F) |
|---|---|---|---|---|
| Revenue (RM) | 183.33 M | 187.46 M | 214.81 M | 236.29 M |
| Profit After Tax (PAT) | 33.08 K | 33.42 K | 28.86 K | 15.00 M |
| EPS (sen) | - | - | - | - |
Peer Comparison & Valuation Context
Property sector
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