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Polymer Link, which specialises in the formulation, compounding, and grinding of plastic powder for both general and specialty applications, plans to leverage its IPO proceeds to expand its footprint abroad. About 20.7% of the proceeds (approximately RM5 million) will go towards establishing a 2,500 sq ft warehouse near Brisbane Port, strategically located close to one of its major customers, Tankpool.
Malacca Securities noted that Polymer Link’s entry into the Australian market is already paying off, with revenue from the segment growing at an astonishing 1,700% compound annual growth rate (CAGR) over the past two years. The segment is projected to reach RM20.6 million in FY2025.