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Golden Destinations Group Berhad Debuts On ACE Market With Opening Price Of RM0.49

Golden Destinations Group Berhad (“Golden Destinations” or the “Company”), a full-service outbound travel experience curator, made its debut today on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The Company’s shares opened at RM0.49 per share, representing a 8.89% premium over its IPO price of RM0.45 per share, reflecting positive market reception and investors’ confidence in the Company’s fundamentals and growth prospects.

Golden Destinations was listed under the stock name “GDGROUP” with the stock code “0398”.

 

Golden Destinations operates primarily as a business-to-business (B2B) outbound travel experience curator under its flagship Golden Destinations (“GD”) brand portfolio. The Company focuses on designing curated travel itineraries, developing travel experience packages and coordinating travel services with global travel partners, supported by a nationwide network of over 800 travel agents for distribution to outbound travellers.

The successful initial public offering of Golden Destinations raised RM90.00 million through the issuance of 200.00 million new shares. The proceeds from the IPO will primarily be utilised for the following initiatives:

The establishment of a new centralised headquarters with the aim to strengthen GD brand presence and corporate identity as well as to consolidate the Company’s operations and support its expanding workforce and operational requirements.

•     Strengthening branding, marketing and promotional initiatives to enhance the visibility of the Golden Destinations brand and reinforce its market presence within the outbound travel industry.

•     Expansion of geographical presence, including strengthening market penetration in East Malaysia and exploring opportunities to establish a presence in the Singapore market.

•   Enhancement of IT systems and operational infrastructure to improve workflow efficiency, strengthen data capabilities and support the Company’s growing scale of operations.

•    Working capital and general corporate purposes, enabling the Company to support day-to-day operations and sustain future growth initiatives.

 

Mr. Mita Lim, Managing Director of Golden Destinations Group Berhad remarked, “Today’s listing marks a significant milestone in Golden Destinations’ corporate journey. We are grateful for the strong support shown by investors throughout our IPO process. This achievement reflects the dedication of our team and IPO working group, together with the confidence the investment community has placed in our business model and long-term growth prospects.”

 

He added, “With the proceeds raised from our IPO, we are well positioned to strengthen our operational capabilities, enhance our brand presence and expand our curated travel offerings. We remain committed to delivering distinctive travel experiences while continuing to broaden our presence in the outbound travel market.”

 

With approximately three decades of experience in the travel industry, Golden Destinations has established a strong presence in Malaysia’s outbound travel segment. The Company offers a diverse portfolio of travel experience packages covering destinations across Asia, Europe, the Americas, Oceania and Africa, catering to a wide range of traveller preferences through its extensive travel agent network.

 

UOB Kay Hian (M) Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent for Golden Destinations’ IPO.

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