KUALA LUMPUR: Enest Group Bhd plans to double its bird’s nest production capacity with the development of a new manufacturing facility in Kajang, Selangor, which is expected to commence operations in 2028.
Chief Operating Officer, Lok Chyi Yeu, said the company’s current production capacity stands at 18,000 tonnes, and the new facility is expected to double its output.
“For our new factory, we are looking at a larger build-up. We will at least double what we have at the moment, with more products for export.
“Once we acquire the new plant, we still need to carry out renovations, submit the necessary applications, and obtain the required permits and licences,” he told a press conference held in conjunction with the company’s listing ceremony here today.
Enest debuted on the ACE Market of Bursa Malaysia at 13 sen today, unchanged from its initial public offering (IPO) price, with 15.82 million shares changing hands.
The company’s executive director, Tan Teh Sheng, said the acquisition of the new plant is expected to be completed this year, adding that renovation works and the licensing process will take about a year; thus, production is projected to begin in 2028.
Meanwhile, its managing director, Tan Teh Jie, said the company is also looking to export its bird’s nest products to new markets, including Canada, adding that China remains the company’s largest export market, followed by countries such as Australia and New Zealand.
Lok said the bird’s nest industry is expected to continue growing, driven by increasing global demand as rising incomes and purchasing power enable more consumers to purchase bird’s nest products.
He added that demand is expected to strengthen in both export and domestic markets as awareness of the products continues to increase.
The counter ended the day trading at 10.5 sen, representing a discount of 2.5 sen to its IPO price, with 79.44 million shares changing hands. – BERNAMA
