ELRIDGE IPO oh ELRIDGE IPO

 



Open to apply: 06 Aug 2024

Close to apply: 12 Aug 2024
Balloting: 14 Aug 2024
Listing date: 22 Aug 2024

Share Capital 
Market cap: RM580 mil
Total Shares: 2.00 bil shares

Industry CARG (2019-2023) 
Wood pellet industry size in Asia Pacific: 6.9%
Palm kernel shell industry size in Asia Pacific: 6.7% 
Industry competitors comparison (net profit%)
1. EEHB : 7.0%
2. Rainbow Pellet Sdn Bhd: 27.4%
3. Kyoto Oils & Grains (M) Sdn Bhd: 12.1%
4. Top Energy Sdn Bhd: 7.7%
5. Maya Wood Pellets Sdn Bhd: 3.7%
6. Others: losses to 2.5%

Business (FPE 2024)  
manufacturing and trading of biomass fuel products, particularly PKS and wood pellets.
Principal Activities
Manufacturing of PKS: 83.28%
Manufacturing and trading of wood pellets: 16.72%
Revenue by countries
Malaysia: 6.82%
Singapore: 47.59%
Indonesia: 31.54%
Japan: 14.05%

Fundamental 
1.Market: Ace Market
2.Price: RM0.29
3.Forecast P/E: 24.61
4.ROE(forecast Pro forma III): 30.65%
5.ROE: 89.8% (FPE2024), 67.26% (FYE2023), 54.84%(FYE2022), 33.64%(FYE2021)
6.Net asset: RM0.05
7.Total debt to current asset: 0.40  (Debt: 76.521mil, Non-Current Asset: 32.287mil, Current asset: 190.745mil)
8.Dividend policy: No formal dividend policy.
9. Shariah status: Yes