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ACE Market-bound Orgabio Holdings Bhd will be headed to the ACE Market at a challenging time considering the ongoing global sell-down in equities.

Nevertheless, being valued at an undemanding price to earnings multiple of 10.1 times, such a ratio perhaps may help it garner sufficient interest from investors.

Orgabio is in the consumer industry, which tends to attract a fair bit of investor interest due to the perceived stable growth and cash flows.

The company, which is selling close to 97 million new shares at 31 sen a share, is involved in the business of instant beverage premixes manufacturing services.

It is said to be the third largest industry player in the country, with 16 years of experience.

Most of Orgabio’s sales are to third party brand owners and key customers, which includes the likes of Econsave Cash & Carry Sdn Bhd, Lotuss Stores (M) Sdn Bhd, Hai-O Enterprise Bhd and TDC Avenue Sdn Bhd.

Speaking with StarBizWeek, Orgabio chief executive officer and executive director Ean Yong Hien Voon says one of the company’s competitive strengths is its ability to provide customised formulation and manufacturing processes of the beverage premixes it supplies to third parties.

“Some brand owners may not have their own product formulations. We assist our customers to source ingredients, create the formulation, and carry out the product registration,” he says.

He adds that Orgabio provides end-to-end solutions, from formulating the instant beverage premixes, up to packaging and delivery.

Orgabio’s manufacturing processes are certified halal by the Department of Islamic Development Malaysia (Jakim).

The sale of instant beverage premix manufacturing services to third party brand owners generated basically all of Orgabio’s revenue in the first half of its financial year 2022 (1H22).

Instant beverage premix consist coffee premixes, food supplement premixes and others.

Customers of beverage premix sales include food and beverages companies, supermarket or hypermarket operators, pharmaceutical companies, and direct selling companies.

According to the group, its direct selling segment through which it works with third party brands has the highest sales contribution for the past four years.

In the meantime, the company has its own in-house brands, namely EveryDay and BrogaHill, that it manufactures and sells as instant beverage premixes.

But these contributed only 0.5% of the group’s revenue in the 1H22.

Another 0.6% of the company’s revenue comes from the sale of aloevera gel.