FMFC News & Events

Kandal M Venture announced a strategic investment to expand its manufacturing capabilities into the Philippines. Kandal entered into a definitive agreement to acquire 15% equity interest in Dumaine International Ltd for about the equivalent of $2.5M in an all-cash transaction. This investment marks the Company's first major expansion outside of its primary Cambodian operations. The investment in Dumaine International is a key pillar of Kandal's long-term strategy to: Mitigate regional concentration risks by establishing a multi-country manufacturing footprint. Enhances the Company's ability to attract premier global brands by offering strategic supply chain resilience and a diversified manufacturing alternative in Southeast Asia. Leverages complementary regional expertise to strengthen product development and production uniqueness. Kandal expects this partnership to provide immediate access to 477,252 sq. ft. of production capacity and a skilled workforce of over 3,500 employees.

Kandal M Venture announced the appointment of Fok Yui Kwong as executive director and CEO, effective February 1. Ngee Woon Lim, who has served as CEO and Executive Director, will cease to serve in both roles effective February 1.

Kandal M Venture announced it has received a letter of noncompliance from Nasdaq, dated December 22, notifying the company that based on Kandal's closing bid price for the last 30 consecutive business days, the company no longer meets the continued listing requirement of Nasdaq, under Nasdaq Listing Rules 5550 to maintain a minimum bid price of $1 per share.

Kandal M Venture announced an update on customer orders for the fiscal year ending March 31, 2026. As of today, the Company has received new orders for Trans 2026 season of approximately $4M, for total orders to date for Fiscal Year 2026 of approximately $17.2M. Customer orders for the year are meeting expectations in spite of the tariff headwinds in 2025. In the fashion industry, the Trans Season typically corresponds to the end of the Spring season and before the Fall season in the United States. Spring Season spans January through March, while Trans season spans April to July.