Enest Group Bhd is chiefly involved in the processing of raw bird’s nest into edible bird’s nest, currently exports to Singapore, China, Taiwan and Australia, besides catering to the Malaysian market.

Bird’s nest products have generally been prized in the market due to its rarity and high nutritional value, reputed to maintain youthfulness and strengthen complexion.

Geographically, China contributes the most to Enest’s revenue with a 91.11% contribution as at financial year 2018 (FY18). This is followed by Malaysia at 3.41%, Australia and Singapore at 3.13%, and Hong Kong at 2.35%.

David Tan Teh Jie, Chief executive officer, said "the bird’s nest industry is considered a fresh one and noted that there is growing demand from regions such as the Middle East and China."

Under the R&D, the group aims to develop cosmetic products containing bird’s nest essence while capex will be used to expand and renovate its existing production facilities.

It will also boost the group’s Bai Leng Yen brand, which includes rental and renovation of its new office and product showroom in Kuala Lumpur.

The group raised RM4 million from the listing exercise, of which 39.82% will be used for working capital, 12.53% for capital expenditure, 12.5% for research and development (R&D) expenditure and 10.15% for brand development expenditure, while the remaining 25% is to meet listing expenses.