Keeps eye on regional markets be just confined to local operations.
For anyone starting their own business, passion and dedication are crucial ingredients to ensure it is successful and remains so. This was certainly the case for Ace Market-bound QES Group Bhd’s president and MD Chew Ne Weng and his partners when they decided to establish the company, then known as QES (Asia Pacific), in 1991.
Chew also had a clear vision for QES – he didn’t want the company to be just confined to local operations.
QES specialises in the distribution, manufacturing and provision of engineering services inspection, test, measuring, analytical and automated handling equipment.
“All along, even when the company was first started, I already had an idea to expand. We started [our operations] in Malaysia and Singapore almost simultaneously. Then we quickly moved through a series of regional expansions to Thailand, the Philippines and as the years went on, we covered most of the Asean countries. This early
Chew says his vision for QES has always been to expand beyond local borders
expansion set the tone for us becoming a regional player,” he tells FocusM. This vision is one that will continue to carry the company forward post-listing as well, as Chew says it will continue to look at opportunities further abroad.
“We are in expansion mode particularly for our manufacturing side, so being a listed entity allows better access to financing.
“For now we are headed for the ACE Market, but eventually we may look into moving up into the Main Market when the time comes. Moving along, China is also an attractive marketplace. We intend to move into the semiconductor chain in China in the next two to three years,” says Chew.
He also does not discount the possibility of acquisition opportunities as and when they arise.
Based on a report by independent market research firm Protégé Associates Sdn Bhd, QES – headquartered in Shah Alam – commands nearly 10% of the market share in the country’s test and measurement market.
QES is seeking to list on the ACE Market of Bursa Malaysia Securities Bhd by early March, with an issuance of 151.66 million new shares in QES representing 20% of the enlarged share capital.
The shares will be issued at 19 sen each, which will raise a total of RM28.82 mil in proceeds, and give the company a market capitalisation of RM144.07 mil.
Of the 151.66 million new shares, 37.92 million will be made available to the public via balloting, 9.27 million shares for its eligible directors and employees while the remaining 104.48 million are earmarked for private placement to selected investors.