According to a bourse filing on Tuesday, RM45 million ($11.25 million) of the RM99.07 million ($24.77 million) raised from its IPO—originally earmarked for the Macau plant—will now be allocated to the Shah Alam expansion, a warehouse in Macau, and working capital. The revised use of proceeds requires shareholder approval.
The new line will lift annual output to 44 million decks from 19 million, with installation targeted by 3Q2026 and operations beginning in 4Q2026. The Macau warehouse is scheduled to open in 2Q2027.
Beyond casino and distributor supply, Mega Fortris plans to diversify into collectible cards, including sports and entertainment, leveraging automated machinery capable of printing, cutting, laminating, inspecting, and packaging multiple card types.
The company cited difficulties securing industrial space in Macau and rising rental costs as reasons for the pivot, estimating RM11.2 million ($2.80 million) in capital savings by concentrating production in Malaysia.
Of the IPO proceeds, RM37.42 million ($9.36 million) will now support the card printing business—including the Macau centre setup—while RM7.58 million ($1.90 million) will cover working capital such as staff salaries.
Mega Fortris also terminated its memorandum of understanding with VS International Group Limited, which had been slated as its subcontractor in Macau, with no claims arising.
Dingnews.com 09/01/2026