MESB GROUP’S HISTORY
 

MESB Berhad(“MESB”) was incorporated in Malaysia on 28 March 1995 as a private limited company under the name of Penastead Sdn. Bhd. which was then changed to MESB Sdn Bhd and subsequently on 20 June 1995 changed to MESB Berhad, a public listed public company , is listed on the Main Market of Bursa Malaysia Securities Berhad and is principally involved in the business of Investment Holding. MESB is structured into 2(two) business units based on its products and services provided:

• Retailing Division - involved in the trading of leather products, casual apparels and accessories;

• Investment Holding Division – involved in the Investment Holding.

The authorized share capital of MESB is RM100,000,000.00, divided into 100,000,000 ordinary shares of RM1.00 each. The issued share capital of MESB is RM42,000,000.00 ordinary shares of RM1.00 each.

MESB’s operations commenced under its former subsidiary of Maintenance Engineering Sdn Bhd in 1971 as a trading company, involved in engineering and supplies business. Subsequently, MESB diversified its direction from trading to construction. Prior to the Group discontinuing the engineering and construction business, the Engineering Division’s range of services covered all facets of its business developments; from survey to detailed design, from material procurement to construction, from commissioning to maintenance and overall project management.

MESB via Maintenance Engineering Sdn Bhd and other former subsidiaries, namely Dynamic Communication Link Sdn Bhd and MESB Development Sdn Bhd have successfully executed over RM800million worth of contracts. A total of approximately 3,500km of overhead transmission lines from 33kV up to 500kV have been commissioned and erected a total of 1,000 units of transmission towers and 50 base stations in state of Melaka

To mitigate its reliance on the Engineering and Construction business, MESB has to diversify into the retailing business, particularly in the areas of mass retailing of high quality fashion leather products and via acquisition of Miroza Leather (M) Sdn Bhd(“MIROZA”) on 16 July 2004.

MIROZA is principally involved in business activities relating to retail industry, particularly in the area of retailing high quality leather products through 300 (three) hundred consignment counters in departmental stores and 5(five) boutiques in shopping malls in Malaysia under several distinct brands: Alain Delon, Pierre Cardin, Giossardi and Giamax. In addition, Miroza has also established its In-house brands, namely Giossardi and Giamax.

On 11 July 2005, MESB has expanded its retailing business into marketing of quality men’s wear through acquisition of A.D. Trends Sdn Bhd (”ADTSB”).

ADTSB had signed exclusive distributorship agreements with PF1 International Limited(“PF1IL”), a Hong Kong based licensed manufacturer and owner of Alain Delon trade mark, where ADTSB is granted the rights to distribute men’s wear under the Alain Delon brand name in Malaysia. Apart from Alain Delon, Pierre Balmain and bods, bodynits are the other major brands sold at some of the boutiques and outlets.

Since commencement of ADTSB’s operations in MESB Group, ADTSB grew from an annual turnover of less than RM17 million to an annual turnover of more than RM30 million.

After disposed of its equity in ADTSB by MESB on 5 January 2010, MESB had acquired a new subsidiary company, namely Active Fit Sdn Bhd (“AFSB”) on 15 October 2015, the principal activity of AFSB is engaged in brand building, concept development, fashion designing, sourcing, marketing, distribution and retailing of casual apparels and accessories.

MESB also owned 2(two) semi-active subsidiaries, namely, Crystal United Sdn Bhd and MESB Capital & Development Sdn Bhd. These companies are principally involved in investment holding business.