KUALA LUMPUR: Hextar Industries Bhd has kicked off trading on the Main Market of Bursa Malaysia today, marking a significant ascent for the company and a testament to the company's dedication to delivering long-term value for its stakeholders.
In a statement, the company said its strategic acquisition of Hextar Fertilizers Limited in December 2022 played a pivotal role in securing this milestone.
It was noted that the acquisition catapulted the group's annual production capacity for compound fertiliser by eightfold, solidifying its position as a leading fertiliser manufacturer in Malaysia.
"We are thrilled to celebrate our uplisting at the Main Market of Bursa Malaysia. This remarkable achievement is a direct reflection of our entire team's unwavering dedication and relentless pursuit of value creation for our shareholders.
"We are confident that this uplisting will propel us to even greater heights, enhancing our visibility and attracting a wider investor base to fuel our continued growth," said Hextar Industries Group managing director Benny Ang Sui Aik.
HIB's growth continued in 2023 with the strategic acquisitions of Hextar Mitai Sdn Bhd and Pacific Office (M) Sdn Bhd, a provider of engineering solutions across diverse sectors like oil and gas, food and beverage, aerospace, and amusement parks, which provide the Group with valuable engineering expertise.
Together with Pacific Office, a leading stationery and office supply distributor, this broadens the group's revenue streams.
Ang said the diverse fertiliser portfolio, coupled with its customisation capabilities, empowers the company to deliver comprehensive solutions for a wide range of crops.
"We are at the forefront of sustainability, pioneering environmentally friendly products like plant-based organic fertilisers.
"Furthermore, we are actively developing solutions to address critical industry challenges like fertiliser leaching and nutrient run-off," he elaborated.
HIB executive director Alex Sham said the group is looking for market expansion and is implementing strategic plans to establish partnerships with local distributors in neighbouring countries with agricultural sectors like Indonesia, Thailand, Vietnam, and Myanmar.
"This targeted approach will significantly drive export growth, solidifying HIB's position as a regional leader," he said.