PETALING JAYA: Cuckoo International (MAL) Bhd (Cuckoo Malaysia) is gearing up for its next phase of growth, leveraging its initial public offering (IPO) to accelerate regional expansion and strengthen its market dominance.
The home appliance and wellness solutions provider launched its prospectus ahead of its listing on the Main Market of Bursa Malaysia on April 30, a move that is expected to unlock new opportunities and fuel its growth plans.
Cuckoo Malaysia CEO Hoe Kian Choon said the company plans to open 10 cash-and-carry retail outlets this year, with locations in Kuala Lumpur, Penang and Johor.
“In 2026, Cuckoo Malaysia is making its mark in Singapore by establishing five third-party retail outlets, further cementing its regional ambitions. Additionally, seven outlets will be launched across Selangor, Malacca, Perak, Kedah, Kelantan and Terengganu
“With a growing industry and our strategic expansion plans, we believe Cuckoo Malaysia is well-positioned to capture new market opportunities and solidify our leadership in the sector,” he said at the prospectus launch today.
He said the IPO comes at a crucial time as the company gears up to expand its footprint across Malaysia and beyond.
“A key part of this strategy is our omnichannel distribution model, which aims to increase customer accessibility to its wellness solutions,” Hoe said.
The company is also ramping up its logistics and warehouse management capabilities to improve efficiency and accommodate the increasing demand for its products and services.
“We aim to boost our delivery capacity from 31% to 83% by the end of 2025, enabling faster and more efficient product distribution. Investments will be made in barcode systems, automatic product tracing, and a physical server upgrade to streamline warehouse operations and enhance inventory tracking,” Hoe said.
To support its service infrastructure, Cuckoo Malaysia is expanding its Cuckoo+ service centres from 37 to 52 in 2026, ensuring stronger after-sales support and maintenance services, he added. “We also plan to increase the number of training hubs from 149 to 202, strengthening its workforce capabilities and ensuring high service standards.”
As a market player in the home appliance rental sector, Hoe said, Cuckoo Malaysia has built a strong brand presence through its holistic “Healthy Home and Healthy Living” ecosystem, offering products ranging from water and air purifiers to kitchen appliances and wellness solutions.
“With the growing consumer demand for smart home solutions and subscription-based services, the company sees vast potential in further penetrating the market through its expanding product portfolio and rental offerings,” he said.
Cuckoo Malaysia’s IPO involves the issuance of up to 365.36 million ordinary shares, representing 25.5% of the company’s enlarged share capital. Priced at RM1.29 per share, the listing is expected to give Cuckoo Malaysia a market capitalisation of RM1.85 billion upon its market debut.
The IPO proceeds will be channelled into several key areas of expansion, with 56.7% allocated for product purchases to support the company’s growing rental business, 21.6% to repay bank borrowings, 5.7% for capital expenditure, including the opening of brand shops and upgrading IT systems to enhance digitalisation and operational efficiency, 5.4% to expand its presence in Singapore, and 10.6% for listing expenses.
