Sabah-based beverage company Life Water Bhd is boosting its production capacity and expanding its market reach with a new manufacturing facility in Keningau, set to begin operations by December 2024. This plant will increase production to 448 million litres annually, with plans to double output by 2027. An additional facility, the Kota Kinabalu Industrial Zone 8 Plant 2, expected to open by 2027, will support advanced manufacturing and plastic packaging expansion as Life Water seeks sustainable growth and efficiency.
Life Water Expands Reach
With robust logistics capabilities, Life Water operates a fleet of 75 trucks and reaches over 3,250 retail outlets, 520 food service outlets, and 100 hotels across Sabah. The company is also exploring new market opportunities in Sarawak and Brunei, targeting steady expansion. Over the past three years, Life Water achieved a 17.2% compounded annual growth rate, with revenue rising from RM103.5 million in 2021 to RM166.5 million in 2024.
Life Water’s IPO on Bursa Malaysia’s Main Market opened at RM0.77 per share, eventually closing at RM0.94. The IPO raised RM63.42 million, which will fund new production lines, distribution centre expansion, and plastic packaging facilities. Life Water’s shares are classified as syariah-compliant and held an 11% share of Malaysia’s bottled water market. The IPO saw high demand, oversubscribed by 32.2 times, with MIDF Amanah Investment Bank Bhd as the principal adviser, underwriter, and placement agent.
