Residential furniture manufacturing company, Mobilia Holdings Bhd. made its first strong appearance on the Bursa Malaysia ACE Market today when its share price reached 65 sen at the start of trading which is a premium of 42 sen from the offer price at 23 sen.
According to Bernama, during the trading session, a total of 17.07 million shares of the company were exchanged.
According to its Business Development Manager, Ervin Quek Yan Song, his party is very optimistic about the prospects due to the competitiveness and resilience of the home furniture market which continues to generate global demand following the growth of housing needs.
He added that currently, the company's products are exported to more than 45 countries with most of its revenue contributed by customers from North America, Asia, Europe, South America, North Africa and Malaysia.
"Mobilia will continue to connect with customers at home and abroad to further increase the number of customers," he said at a virtual press conference following the listing of the company today.
Yan Song added that spending on global furniture is projected to grow at a compound annual growth rate (CAGR) of 2.8% while national furniture exports are expected to increase by CAGR 5.0%.
He explained that despite the Covid-19 pandemic, Mobilia still continued its marketing efforts with sessions involving those who have the potential to become customers as well as doing research to identify new customers.
For the financial year 2020 affected by the pandemic, Mobilia's revenue decreased to RM44.7 million from RM75.6 million achieved in the financial year 2019.
Commenting on the performance, Yan Song said, his party remained optimistic that the industry would recover faster during the post-pandemic phase due to factors such as the increase in the number of those working from home.
He said that the factor will also help increase the demand for residential furniture as well as be able to cover the pandemic impact on the industry.
