Inspace Creation Bhd debuts on ACE Market at 26.5 sen with RM30 million order book

Malaysia-based interior fit-out service provider Inspace Creation Bhd debuted on Bursa Malaysia's ACE Market at 26.5 sen (€0.059), a 1.5 sen premium over its initial public offering price of 25 sen (€0.055), with 27.73 million shares traded, The Star reported.

The company remains optimistic about its outlook following its listing, with new growth avenues, positive tender prospects and a RM30 million (€5.9 million) order book.

Edward Cheong Han Bin, executive director, said the company is focused on executing its business plans and strengthening its project pipeline after making its market debut. He said that although demand for the group's services is linked to commercial property cycles, the business remains resilient due to the recurring nature of refurbishment and upgrading works, which are still required even in slower market conditions.

"In addition to new office fit-outs, a portion of our projects arises from companies relocating, renewing leases or reconfiguring existing spaces to meet evolving workspace requirements," Cheong said during a virtual press conference after the company's listing ceremony.

Wong Chong Siong, executive director, said the company's share price performance demonstrates the market's positive reception of its business model and its commitment to quality workspace transformations. "With the capital raised, we are now better equipped to expand our operations, establish dedicated mock-up facilities to enhance client engagement, and pursue larger-scale commercial projects across regional markets beyond the Klang Valley," Wong said.

The company provides end-to-end interior fit-out solutions covering design, construction and post-completion maintenance, with more than 110 projects completed worth over RM170 million (€33.6 million) across the Klang Valley.

The initial public offering raised approximately RM17.13 million (€3.4 million), with allocations for capital expenditure to establish storage and mock-up space, working capital, debt repayment and listing expenses.

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