KUALA LUMPUR, 10 September 2025 — Waste management specialist 5E Resources Holdings Bhd is preparing to list on the ACE Market to raise capital for its most ambitious project to date—a scheduled waste management facility in Batang Padang, Perak, with an estimated development cost of RM110.66 million, according to its draft prospectus filed with Bursa Malaysia. Construction is slated to begin in 2027, with initial operations targeted for the first half of 2030, contingent on regulatory approvals, including environmental licensing from the Department of Environment Perak.
Currently, 5E Resources operates from Pasir Gudang, Johor, where it manages several facilities handling scheduled wastes. Its recycling arm, yielding recovered materials such as precious metals and industrial containers, serves manufacturers across the semiconductor, electrical and electronic, chemical, plastic, and rubber sectors.
The proposed IPO involves a public issuance of 304.5 million new shares, alongside an offer for sale of 154 million existing shares, representing up to 30% of the company. In 2024, the company recorded revenue of RM80.15 million and a net profit of RM21.78 million. Proceeds from the offer-for-sale will go to GreenEdge Sdn Bhd, controlled by key executives including Chairperson Loo Sok Ching, shareholders Wong Kim Fatt and Ban Kim Wah, CEO Lim Te Hua, and COO Shankar Narasingam. TA Securities Holdings Bhd has been appointed as the principal adviser, sponsor, underwriter, and placement agent.
This IPO reflects 5E Resources’ strategic ambition to expand infrastructure capacity across Malaysia’s industrial waste management sector. The capital raised through the listing is expected to fund both fixed assets and working capital, positioning the company to scale operations and enhance its service coverage.
