Pecca makes impressive debut wit 29 sen premium

KUALA LUMPUR: Largest automotive leather upholstery supplier, Pecca Group Bhd, made an impressive debut on the Main Market of Bursa Malaysia at a 29-sen premium from its issued price of RM1.42.

The counter opened at RM1.71 with 3.4 million shares traded. Independent non-executive chairman Datuk Mohammad Suffian Awang said the company’s successful listing was testament to all the hard work and months spent by its dedicated management and staff at every level to achieve the milestone.

“On behalf of everyone in Pecca, we are eager to kickstart this new journey of growth and expansion as we seek to create further value for our new shareholders.

“At the same time, we remain committed to upholding and delivering on our responsibility as a public listed entity,” said Mohammad Suffian in his speech at the listing ceremony yesterday.

Pecca is the supplier for the original equipment manufacturer (OEM) and pre-delivery inspection (PDI) passenger vehicle segment in Malaysia since 2013. Meanwhile, at the press conference, Executive Director Michael Tan Jin Sun, said the company would allocate RM3.75 million to launch its first concept retail store in the next two years.

“It will feature an in-car installation using our SmartFit technology, where customers bring their car to the store and get it fixed in the store without taking the vehicle back to our factory like the conventional way,” Tan said.

Tan said currently the company was in the midst of exploring market opportunity where it planned to open about 50 stores nationwide. He also explained that the company did not have any particular agreement with car manufacturers for the OEM and PDI segment.

“But we do have a general agreement with them (car manufacturers) on contracts basis depending on their requirements based on car models and car volumes,” Tan said. — Bernama

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