Listed in May, 5E Resources has turned in its maiden post-IPO earnings report card, showing the company as well plugged into a growth trend. With the IPO funds raised but yet to be used, the company is poised to step up its growth pace ahead.
For years, factories dumped chemical waste illegally into the Kim Kim River in Johor. Things came to a head in March 2019, when toxic fumes from the waste affected more than 6,000 people in the vicinity of Pasir Gudang. Around 2,800 people, including teachers and students of schools near the river, had to be hospitalised. They struggled to breathe and suffered from nausea and fainting spells. Such environmental incidents helped spotlight waste management companies tapping into this sector’s long-term demand growth.
One example is SGX-listed, Malaysia-based 5E Resources, which focuses on collecting and treating waste from the manufacturing industry and recycling the by-products for a profit.
