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AddCap targets CAGR of 60%+ through 2028, driven by retail expansion, exports, and AI-powered revenue streams.
Revenue Growth (RM Million)
| Year | Revenue (RM M) | EBITDA (RM M) | EBITDA Margin | Ladaza Stores | YoY Growth | Status |
|---|---|---|---|---|---|---|
| 2023 | RM8.5M | RM1.2M | 14.1% | 6 | — | Actual |
| 2024 | RM12.0M | RM2.1M | 17.5% | 10 | +41% | Actual |
| 2025E | RM15.0M | RM3.2M | 21.3% | 12 | +25% | Estimate |
| 2026F | RM30.0M | RM7.0M | 23.3% | 20 | +100% | Forecast |
| 2027F | RM60.0M | RM16.0M | 26.7% | 38 | +100% | Forecast |
| 2028F | RM100.0M | RM28.0M | 28% | 100 | +67% | Forecast |
* Forecast figures are management projections. Not audited financials. Data managed via Admin → Financial Data.
Roadmap managed via Admin → Roadmap Milestones
AddCap is building Nasdaq-standard governance ahead of its 2028 listing, including independent board oversight, audit, and remuneration committees.
The Board provides strategic oversight and ensures accountability. We are onboarding independent non-executive directors as required by Nasdaq listing standards.
In FormationOversees financial reporting, internal controls, and external audit. Will comprise a majority of independent directors as required under SEC Rule 10A-3.
In FormationResponsible for executive compensation policies and ensuring alignment between leadership incentives and shareholder value.
In FormationManages board composition and director nomination, ensuring compliance with diversity requirements under Nasdaq Listing Rule 5605.
In FormationAddCap maintains a written Code of Ethics applicable to all directors, officers and employees, with violations reported to the Audit Committee.
AdoptedCurrently reporting under Malaysian MFRS. Transition to US GAAP or IFRS planned as part of 2027 pre-IPO audit preparation.
MFRS · TransitioningThese documents will be filed with the SEC upon commencement of the Nasdaq listing process.
Investing in AddCap involves risks. Prospective investors should carefully consider the following before making an investment decision.
The global furniture market is competitive and subject to macroeconomic cycles, consumer sentiment shifts, and raw material price volatility.
The Group's growth plans depend on successful simultaneous execution of retail expansion, manufacturing scale-up, and technology development.
Nasdaq listing requirements are subject to change. Securities law in the US, Malaysia, Saudi Arabia, and other target markets may affect operations.
AddCap operates in RM but targets USD-denominated revenue. Currency fluctuation may impact margins.
A significant portion of revenue is currently concentrated in Malaysia. Geographic diversification is a multi-year process.
AiCap Solutions competes in a rapidly evolving AI landscape. Technological obsolescence could affect its value proposition.
As a pre-IPO company, shares in AddCap Holding are currently illiquid.
Revenue projections and milestones are management estimates. Actual results may differ materially from forecasts.
Have questions about AddCap's Nasdaq journey? Our investor relations team welcomes all serious enquiries.