Kuala lumpur: ACE Market debutant ASM Automation Group Bhd aims to drive future growth by expanding its presence and enhancing its automation machinery solutions in Malaysia and key international markets.

According to BERNAMA News Agency, managing director Chan Kok Heng said the group remains positive and confident, supported by the trust shown by the market and its investors. “This is also a testament to the strength of our business model, proven track record, and strong potential in the automation machinery solutions industry,” he stated during a virtual post-listing press conference.

At 9 am, the automation machinery solutions specialist made its debut on the ACE Market at 17 sen, unchanged from its offer price, with 57,293 shares traded. ASM Automation plans to allocate RM11.40 million to construct a new factory, RM2.30 million to purchase machinery, equipment, and components for customer engagement, RM2 million for design and development activities to enhance research and development capabilities, RM1.92 million for working capital, and RM4.2 million for listing expenses.

By 5 pm, ASM Automation’s share price fell half-a-sen to 16.5 sen with 51.42 million shares transacted.