Market Mover | 3REN Surged Over 32% on Its IPO Debut

Significantly, 3REN Bhd published its financial report for the third quarter of FY24 on 4th November. The report revealed that the company's revenue for the quarter reached RM29.05 million, with a net profit of RM2.18 million and earnings per share (EPS) of 0.4 sen.

3REN Berhad is a Malaysian investment holding company established in 2021, specializing in automation solutions and engineering services through its subsidiaries Sophic Automation, Sophic MSC, and Pinkypye. It has expertise in product engineering, IC assembly and testing support, digital solutions, and automated equipment design. The company has a history dating back to 2007 and has expanded through organic growth and acquisitions, including key ones like Sophic MSC and Pinkypye. 3REN Berhad is committed to innovation, customer-centric solutions, and operational excellence, with a presence in Malaysia and global outreach to countries like Singapore, the USA, China, and Vietnam. The company has experienced significant revenue growth, with a CAGR of 14.62% from RM63.02 million in FYE 2020 to RM94.89 million in FYE 2023, driven by its product engineering and IC assembly and testing services.

The funds raised, totaling RM30.80 million, will be allocated towards several key areas: setting up new delivery centres, R&D expenditure, establishment of a new singapore office, repayment of bank borrowings, working capital requirements and listing expenses.