Kuala Lumpur, 25 February 2026 – Teamstar Berhad (Stock Name: TEAMSTR; Stock Code: 0393) made its debut on the ACE Market of Bursa Malaysia Securities Berhad today, opening at 26 sen, unchanged from its initial public offering (IPO) price.
At the opening bell, approximately 17.7 million shares changed hands, reflecting steady investor participation. At its opening price, Teamstar carried a market capitalisation of RM208 million.
The listing raised RM34.32 million in gross proceeds at an IPO price of RM0.26 per share. TA Securities Holdings Berhad acted as Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for the IPO.
Proceeds Earmarked for Expansion
Teamstar intends to allocate 67.63% (RM23.21 million) of the IPO proceeds toward establishing new retail outlets and warehouses, 13.54% (RM4.65 million) for working capital, 4.26% (RM1.46 million) for repayment of bank borrowings and 14.57% (RM5.00 million) for listing expenses.
The Group plans to open 10 new retail outlets, strengthening its presence in Johor, Kedah and Penang while expanding into East Malaysia via Sabah and Sarawak. As at 31 December 2025, Teamstar operated 28 “Teamstar” outlets and one “Benova” outlet, supported by two factories and nine warehouses across Peninsular Malaysia.
Consistent Revenue and Earnings Growth
Teamstar’s revenue increased from RM91.31 million in FYE2022 to RM136.51 million in FYE2025 (unaudited), representing a compounded annual growth rate (CAGR) of 14.34%. Profit after tax rose to RM15.02 million in FYE2025 (unaudited), reflecting a CAGR of 14.91%.
In FYE2025, approximately 55.53% of revenue was derived from the retail segment (RM75.81 million), while 44.47% came from its trading and value-added segment (RM60.70 million), highlighting a diversified revenue base.
Positioned Within a Growing Industry
Malaysia’s home improvement industry was valued at RM47.73 billion in 2024 and is projected to grow to RM59.19 billion by 2029, supported by continued property activity and renovation demand.
With around 27,800 stock keeping units (SKUs) spanning furniture fittings, hardware, decorative surface products, kitchen appliances and coatings, Teamstar serves interior designers, contractors, carpenters and furniture manufacturers nationwide.
The ACE Market listing provides Teamstar with enhanced visibility and capital access as it accelerates its retail expansion strategy and strengthens its footprint in Malaysia’s growing home improvement sector.
