TEAMSTAR BERHAD (TEAMSTR)

Teamstar Berhad - Who Are They?

Teamstar Berhad is not your typical DIY store. This is a niche specialist that has operated for nearly 30 years since 1996, founded by Tan Lee Kueng. The company made its public debut on the ACE Market of Bursa Malaysia on 25 February 2026, at an IPO price of RM0.26. In the three months since listing, the stock has demonstrated positive momentum.

A critical distinction for investors: Teamstar is not a direct competitor to MR D.I.Y. or Eco-Shop. They are a specialist in furniture hardware fittings, edge banding materials, coatings, and glass accessories. Their customer base spans everyday retail consumers planning home renovations, as well as B2B clients including furniture manufacturers and building contractors.

Two Core Business Segments

• Retail Sales (~80% of revenue): 29 outlets under the 'Teamstar' and 'Benova' brands across Peninsular Malaysia. Products include furniture fittings and hardware, kitchen and home appliances, and glass accessories.
• Trading and Value-Added Services (~20% of revenue): B2B sales to furniture manufacturers and contractors. Services include edge banding slitting and coatings/solvents mixing - technically specialised offerings not easily replicated by general retailers.

Brand Portfolio - A Hidden Strength

Teamstar owns 11 proprietary in-house brands including Reno, Hauss, A'Lois, E'Lois, Bramah, team, DGTango, Eracoat, Best Can, Bee's Chem, and Bull Chem. They also distribute more than 60 authorised third-party brands. This dual-track approach gives them margin control that pure retailers relying entirely on external brands cannot achieve.

Sales Channels

Beyond their 29 physical outlets, Teamstar maintains active presence on Lazada, Shopee, and TikTok Shop, extending their reach to customers outside physical store catchment areas.

Subsidiaries

The Teamstar Group operates through several subsidiaries: Teamstar Solutions, Best-Can, DG Materials, Teammart, and Benova - each covering different aspects of their value chain.

Shariah Status

⚠️ IMPORTANT: Teamstar Berhad is classified as NON-SHARIAH COMPLIANT. Investors with Shariah-compliant investment mandates must account for this before making any investment decision.

Positive Post-IPO Corporate Actions

Two significant developments occurred in March 2026 alone:

1. Factory/Warehouse Acquisition: Teamstar acquired the Meranti Jaya Warehouse at Lake 6 Entrepreneurs' Park II, Puchong - a 14,522 sq ft facility at RM7.38 million. This will serve as the main distribution centre for 28 Teamstar outlets near the company headquarters, improving supply chain efficiency and reducing logistics costs.
2. Insider Buying: Group Executive Chairman (CEO) Tan Lee Kueng personally purchased 10 million shares at approximately RM0.245 per share, representing a personal commitment of around RM2.45 million from his own pocket.

These two actions within the first month post-IPO signal that management is building the business for the long term, not simply collecting IPO proceeds and stepping back.

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