Kuala lumpur: Meat processor and distributor, MyAxis Group Bhd, anticipates its forthcoming processing facility in Bukit Kayu Hitam, Kedah, to begin contributing to its revenue in the second quarter of the financial year 2026 (2QFY2026). The company’s current financial year concludes on July 31, 2025.
According to BERNAMA News Agency, Executive Chairman Datuk Tan Hwa Sing announced that the company plans an investment of RM11.3 million in the new facility. This investment is expected to double the firm’s annual poultry processing capacity to 708 tonnes and triple its red meat handling capacity to 1,870 tonnes. The new facility is also set to expand storage capacity from 53.0 tonnes to 566.0 tonnes.
Tan revealed these developments during a press conference held in conjunction with the company’s listing. Following its debut on the LEAP Market, MyAxis has outlined plans to transition to the ACE Market within the coming two years. The company has ventured further upstream into processing and selling poultry and red meat products through its wholly-owned subsidiary, KK Fresh Frozen Sdn Bhd.
With the increased processing and storage capacities, MyAxis aims to broaden its customer base, targeting food and beverage providers, hotel chains, and processed food manufacturers. The company has already expanded its customer base to 300 nationwide, a significant increase from 20 customers in 2024.
The new processing facility, covering a built-up area of 17,567.76 square feet, is projected to be fully operational by 2026. Addressing queries on poultry product supplies, Tan stated that 50 percent of these products are imported from Thailand, with the remainder sourced from Malaysia and China. He anticipates this ratio to remain stable, ensuring product quality for frozen meats through imports from Thailand.
MyAxis aims to generate RM5.29 million through a private placement of 44.1 million new shares priced at 12 sen each, which implies a market capitalisation of RM40.9 million upon listing. The funds raised will be allocated towards repaying bank borrowings (RM3 million), acquiring new machinery, supporting working capital, enhancing branding and marketing efforts, and covering listing expenses.