Singapore, 1 November 2018 – Nexia TS conveys its heartiest congratulations to MeGroup Ltd., a Malaysia-based car dealership and automotive parts maker, on its successful IPO listing on SGX Catalist Board on 31 October 2018, placing out a total of 16.5 million shares at an offer price of $0.23 per piece.
Nexia TS acted as the Reporting Auditors supporting in the IPO listing. CIMB Bank, Singapore branch was appointed as the Sponsor and Issue Manager while CGS-CIMB Securities (Singapore) was the Underwriter and Placement Agent for the listing.
Based in Cheras, Malaysia, MeGroup Ltd manufactures noise, vibration and harshness (NVH) components for car engine compartments and passenger cabins using thermobonded felts. With the listing, the company also aims to grow its dealership business by opening more outlets in the near future. It currently sells new automobiles under the Honda, Mazda and Peugot brands.
“A big thank you to Nexia TS for its professional support on our IPO Listing on Catalist board. It was an awesome 12 months of engagement & experience particularly with the team from Nexia TS. The team has demonstrated excellent problem solving capabilities and acted way above expectation in seeing through the entire IPO journey with its personal approach and sound advices. We would definitely recommend Nexia TS for any future opportunities. Many thanks again for the incredible journey and we hope to continue it with even more awesome experiences.”
Wong Cheong Chee, Chairman, MeGroup Ltd.
“Congratulations to MeGroup Ltd. for its successful IPO listing on SGX. This also marks our 5th IPO project that has been successfully accomplished in 2018. At Nexia TS, we not only believe in delivering personalised service led by partners to forge a close and mutually beneficial partnership but as well recognise the competency and professionalism of our people that strengthen our areas of audit expertise to assist clients in their course of business expansion. We look forward to building solid foundation to further deepen and expand our cooperation to bring greater benefits. ”
Henry Tan, Group CEO & Chief Innovation Officer, Nexia TS
About MeGroup Ltd:
MeGroup Ltd., through its subsidiaries, primarily engages in the automobile dealership business in Malaysia. It engages in the sale of new automobiles, as well as automobile parts and accessories; provision of after-sales services; and provision of automobile body paintwork and collision repair services. The company’s business comprises two segments:
(a) Manufacturing – we manufacture NVH components and other non-NVH components primarily for the automotive industry in Malaysia. Our NVH components include headliners and engine outers and are incorporated into various parts of automobiles, including the ceiling, dashboard, hood and boot. Our non-NVH components include parcel trays and board assembly decks and headliners.
(b) Dealership – we own and operate 3S and 4S automobile dealerships for the sale of new automobiles in various parts of Malaysia under the Honda, Mazda and Peugeot brands. Our 3S automobile dealerships offer the following services:
(i) 1S services, being the sale of new automobiles;
(ii) 2S services, being the provision of after-sales services; and
(iii) 3S services, being the sale of automobile parts and accessories. Our 4S automobile dealerships also offer 4S services to its customers, being automobile body paintwork and collision repair services, in addition to the 1S, 2S and 3S services.
About Nexia TS:
Nexia TS was founded in 1993 by two experienced chartered accountants – Henry Tan and Sitoh Yih Pin. After working as managers for one of the international accounting firms, they saw a vision and an opportunity to establish their own organisation – not any accounting firm – but one which is unique in their personalised and well-qualified expertise.
To date, Nexia TS is recognised as an established mid-tier local accounting firm. We have grown significantly in size over the years. Being an independent member firm of Nexia International, we are affiliated to accounting firms in many parts of the world. This means that our clients will get to enjoy personalised, comprehensive and quality services at competitive rates in Singapore and globally. Our reputation for quality has been recognised by clients and accounting professionals.
As testimony to this, we are among the first few local accounting firms to be accredited by the Institute of Chartered Accountants in Australia to provide supervision of professionals undergoing traineeship to qualify as Chartered Accountants. Headquartered in Singapore, Nexia TS has established a strong presence in various countries across the region. Nexia TS Shanghai is a one-stop centre providing advisory services for foreign-invested enterprises in China. NTS Malaysia and NTS Myanmar provide a full suite of corporate advisory services for our clientele with operations and new foreign investments in the respective countries.
Nexia International is an international network of accounting and consulting firms with origins going back to 1971, making Nexia International one of the longest established networks. Currently, with 30,750 staff serving our clients at 667 offices in 115 countries, it is ranked as the top 10 largest international accounting and consulting network.
For more details, please visit www.nexiats.com.sg.
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