Last Listing on Bursa Malaysia, FoundPac Group Bhd, made a strong debut on the Main Market yesterday.

FoundPac closed at 66 sen, a 22.22 per cent premium over its offer price of 54 sen, outperforming the FTSE Bursa Malaysia KLCI benchmark.

Multi Management and Future Solutions Malaysia: This year's keep going posting on Bursa Malaysia, FoundPac Group Bhd, made a solid introduction on the Main Market yesterday. 

FoundPac shut down at 66 sen, a 22.22 for each penny premium over its offer cost of 54 sen, beating the FTSE Bursa Malaysia KLCI benchmark. 

The key record shut down at 1,637.93 focuses, 0.47 for each penny higher than Wednesday's end of 1,630.30. 

FoundPac, which opened at 61 sen, saw 52.3 million shares evolving hands. 

Open Investment Bank has a reasonable estimation of 63 sen for FoundPac, inferring an upside of 17 for every penny from the organization's posting cost. 

The exactness building parts fabricator had a further upside potential on the back of the debilitating ringgit against the US dollar, said examiners. 

"FoundPac and other assembling organizations with huge abroad presentation would keep on outperforming on the rising US dollar incline as a more grounded US dollar converts into less expensive fares. This offers FoundPac a potential upside in the long haul. 

"FoundPac's transported in cost of offers in dollar terms, then, is inconsequential to the organization," said one of the investigators. 

Examiners said FoundPac's income development would be upheld by more grounded request and higher creation limit. 

CEO Lee Chun Wah said FoundPac, which determined more than 95 for each penny of its deals from fare markets, expected to reinforce its position in the United States to ride on the blasting Silicon Valley in California. 

"In Silicon Valley, there are a considerable measure of little organizations and configuration houses that we can be vigorously required with. Starting now, we don't have any expectation to turn out from California," he said after the organization's posting, here, yesterday. 

FoundPac has reserved RM4 million from the posting continues to set up deals workplaces in California, and Milan in Italy. 

The US showcase contributed the most elevated share to the organization's income. 

FoundPac is additionally seeking after development in its client base by broadening into end-client ventures while growing its creation limit. 

"We additionally plan to broaden our client base to end-client businesses with a specific end goal to grow income stream and also decrease the danger of relying upon one specific industry," said Lee. 

FoundPac serves multinational semiconductor makers for the media transmission industry.

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