We are a company principally engaged in the development, construction and maintenance of aquaculture farms and related works. (Incorporated in the Cayman Islands)

Our operations are based in Malaysia. Since our inception in 2020, we have strived to establish ourselves as a trusted and experienced provider of shrimp farm-related maintenance services in Malaysia. As of the date of this prospectus, we have been carrying out a series of upgrading and maintenance work projects for aquaculture farms, all of which are located in Tawau, Sabah, Malaysia. This constitutes 71.8%, 43.7% and 15.5% of our revenue for the financial years ended December 31, 2021, 2022 and 2023, respectively. Besides that, we also carried out upgrading work for a pineapple plantation farm located at Kota Tinggi, Johor, Malaysia in 2022 and 2023. This constituted nil, 25.3% and 22.6% of our revenue for the financial years ended December 31, 2021, 2022 and 2023, respectively.

Complementary to our upgrading and maintenance services, we also assist customers with the design and development of new farms. As of the date of this prospectus, we are currently involved in the development and construction of a shrimp hatchery center in Semporna, Sabah, Malaysia, where we have been engaged to undertake the construction of hatchery buildings and related functional facilities. We are also assisting in the development of a 111-acre shrimp farm at Tawau, Sabah, Malaysia. The design and development of new farms comprised 22.2%, 16.4% and 61.7% of our revenue for the financial years ended December 31, 2021, 2022 and 2023, respectively. From time to time, we also assist our customers in sourcing for building materials and machinery available for rental for use on their farms. This comprised 6.0%, 14.6% and 0.2% of our revenue for the financial years ended December 31, 2021, 2022 and 2023, respectively.

With our wide suite of services and diverse revenue streams, we are well-positioned to serve customers as a one-stop center for their aquaculture and agriculture needs.

Note: Net income and revenue are in U.S. dollars (converted from the Malaysian ringgit) for the 12 months that ended Dec. 31, 2023. 

(Note: Megan Holdings Ltd. filed its F-1 on Aug. 8, 2024, and disclosed the terms for its micro-cap IPO: 1.25 million shares at a price range of $4.00 to $6.00 to raise $6.25 million. Megan Holdings did not name an underwriter in its F-1 filing.)