KUCHING: Ready-to-assemble furniture products designer and manufacturer, Spring Art Holdings Bhd has made its debut on Bursa Malaysia’s ACE Market at 25 sen, unchanged from its issue price.
Managing director, Jack Lim as quoted in Borneo Post said the company raised RM24.42 million from the listing exercise, of which, it would allocate RM17.55 million to acquire high-performance machinery such as computer numerical control (CNC) panel saw machines, edge banding machines and CNC woodworking machines from Italy and Germany and to set up two additional production lines in its Factory C.
Lim said production output needed to be expanded to tap into the growing demand for our products whereby the Factory C, which is expected to start in July 2022, will increase the company’s annual capacity to a combined manufacturing capacity of about 674,000 units per annum.
He said, the factory will enable the company to expand the range and production of furniture for the office, bedroom and living room for export to North America and Europe and also existing customers.
Source: Borneo Post