Equity Crowdfunding

Fulry #forprinters

  • RM 352,000
    Min. Target

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  • Equity - OS
  • ~ up to 12.28%
  • RM 11,000,000
  • RM 352,000
  • RM 1,540,000
  • -
  • Heat Press Mart Sdn Bhd
  • 37-1, Block D1, Jalan PJU 1/41, Dataran Prima, Petaling Jaya
  • 1203800U
  • -


Heat Press Mart Sdn. Bhd. is a Malaysian-based machines and materials supplier for gift printing businesses. Our products are marketed under the brand, Fulry. All our branches’ signboard is with our brand, Fulry, and tagline #forprinters.

We provide full set printing business supplies and solutions to our customers, such as Shirt & Sticker Printing Business Packages, Cap Printing Packages, Mug Printing Packages, Button Badges Printing Packages, etc. We are the top 3 suppliers in the Heat Transfer Printing industry and currently have 7 branches all over Malaysia.

We import various printing machines and materials from China, Korea, and Singapore. The famous brands we bring are Silhouette, Epson, Neenah, Oracal, etc. Furthermore, we offer an all-in-one printing package solution to our customers. The packages we offer include printing machines, printing materials, training on how to use the machines, and how to do sales and marketing on the products. We also offer after-sales service/support and warranty on our machines in order to keep our customers returning to us to buy materials.


There is an insufficient supply of printing machines and printing materials in the markets. Printers found it difficult to get machines and materials when they win jobs or contracts. This causes them to lose their income. Additionally, the cost of machines and materials is also high due to increased transportation costs.

In 2022, the sales value of manufactured printing ink in Malaysia was worth approximately RM 1.15 billion, an increase from around RM 989 million in the previous year, based on the report from Statista.. This showed a significant growth of 16.27% in the manufacturing of printing ink in the Malaysian market.


In the year 2018, there were approximately 20 companies of printing machines & materials suppliers in the market. However, until today year 2023, there has been a significant decrease in supplier companies to around 10 companies, due to the impact of covid-19. In 2018, we have 4 branches all over Malaysia, and now we have 7 branches all over Malaysia, which shows that we are retaining more market shares in the printing industry.


1. Effective Procurement. 

The cost of the materials was high due to the extra cost of transportation from West to East Malaysia. We have 5 branches located in Sarawak & Sabah, and we direct import from oversea suppliers, thus we can save a lot of transportation cost and provides the best experiences to our customers.

2. Effective Sales & Marketing Online & Offline Channels. 

We have more than 10 online e-commerce channels such as Shopee and Lazada & other platforms such as our own website (www.fulry.my), Tiktok, mudah.my in Malaysia, and a database of approximately 27,000 customers. Customers can easily and quickly get their machines and materials from our 7 shop locations—free training and after-sales support to our customers. We provide free machine training and guide customers on how to use the materials and market their products.

The above tables show the extra cost and time cost needed for customers to get their goods if purchased from our competitors. Our competitive advantage is that we are able to provide our customers with instant ready stocks, and at a cheaper cost.

Our main competitive advantage is our flagship product – Fulry Ink. With Fulry Ink, we can have a lot of online traffic to attract our customers to drop by our physical stores and also to purchase other relevant great products from us. Transport cost is an added advantage for our Sabah and Sarawak customers because there are lesser competitors in Sabah and Sarawak. However, for items that are shipped within Peninsular, it will be a similar transport cost. For the peninsular customer, we will depend on our brand, products, and good traffic online to retain our customers.


We provide full set printing business supplies and solutions to our customers.
• Shirt & Sticker Printing Business Packages
• Packages
• Cap Printing Packages
• Mug Printing Packages
• Button Badges Printing Packages


In 2020, our profit margin decreased to 33% from 42% in 2019. This is because we organized a few promotional campaigns to retain our customers when covid just hit Malaysia in 2020. We also offered free postage within the whole of Malaysia including Sabah & Sarawak. Eventually, we able to obtain new customers and increase our revenue even in 2020 with lesser operating months.  

In 2021, everything went smoothly until a more serious covid variant spread in Malaysia, and with even lesser operating time and lower purchase power from customers, thus we got lesser revenue and lesser EBITDA.

From 2021 4th quarter until 2022, we managed to decrease more than half of our expenses and result in improved EBITDA.


Target Customer

  • SME Printing Business Owner
  • Home Printing Business Owner - Part-time incomes
  • Shop Printing Business Owner - Sticker Printing shop, shirt printing shop, etc.

Until May 2023, we had reached 27.5k customers in our databases.

Business Model

Our revenue model consists of 2 major sources; Offline and Online sales channels.
1. Offline Channel
We have 7 Branches and Physical Stores all over Malaysia.

  1. Petaling Jaya, Selangor
  2. Klang, Selangor.
  3. Kuching, Sarawak
  4. Miri, Sarawak
  5. Kota Kinabalu, Sabah.
  6. Sandakan, Sabah.
  7. Tawau, Sabah.

Offline channel makes up around 65% of our total sales revenue.
The offline channels have a higher gross profit margin, at around 48%

2. Online Channels

  • We have multi-channels of online e-commerce platforms – Shopee, Lazada, website (www.fulry.my) WhatsApp, etc.
  • For online advertising and social media platforms, we are using Google, Facebook, Instagram, and Tiktok.
  • Online channels make up around 35% of our total sales revenue
  • The online channel has about a gross profit margin of around 43%



We differentiate ourselves from the competitors because we have very competitive sales & marketing channels. Besides that, our product cost is relatively low compared with the competitors. This is because we directly import from the oversea supplier and directly to our 7 branches in Malaysia, this has brought down a lot of the transportation cost incurred, especially transporting from West Malaysia to East Malaysia. Besides that, it also reduces the time of transiting the stocks from West Malaysia to East Malaysia, our customers can directly get the stocks from us from our branches in Sabah & Sarawak.



Fund Utilization: 50% Inventories, 30% Sales & Marketing, 20% Operation Cost


To become the market's most innovative supplier in the printing industry.


Managing Director

Mr. Chieng Kwang Lik, Managing Director. 10 Years of Experience in the Printing Industry. Expertise in Product R&D & Product Knowledge, Effective Local & Oversea Procurement, Products Sales & Marketing.

Deputy Managing Director

Mr. Wong Khai Sien, Director. 7 Years of Experience in the Printing Industry. Experienced in Products Knowledge, Overall Company Operations, and Online & Offline Sales & Marketing.


1.  Sales Manager – Mr. Mohd Fahmi Bin Razalle
More than 10 years of experience in the Printing Industry
Had lead sales team to achieve sales revenue of more than RM 600,000 per month in the year 2020.
Experience in online & offline sales & marketing activities for the company for more than 6 years.

2. Account cum HR Senior Executive – Ms. Chia Siaw Swan
Responsible to prepare a full set account for company management review every month. Management accounts are prepared on a monthly basis to ensure the company is on track with the progress.
More than 5 years experience in working in accounting background.

3. Regional Manager (Sabah) – Mr. Mohd Razali Bin Nasir
Responsible to manage sales & marketing, and operation of the Sabah branches.
More than 7 years of experience in the Printing Industry.
Had led Sabah branches to become the most performing branches.

4. Branch Assistant Manager (Sarawak) – Ms Nur Shazreena Binti Abu Talib
Responsible to manage sales & marketing, and operation of Sarawak branches.
More than 4 years of experience in the printing industry.
Led Sarawak branches to become top printing machines & materials suppliers in Sarawak and Brunei.

5. Branch Assistant Manager (Petaling Jaya) – Mr. Muhamad Hazree Bin Onn
Responsible to manage sales & marketing, and operation of the Petaling Jaya Branch.
More than 5 years of experience in the printing industry
Expert with printing knowledge as had been engaged in printing services for several years.

Investment Terms

What to achieve?
Post fundraising, we expect a significant increase of 20-40% in sales in 2024 as we scale and capitalise on our mature Online and Offline sales channels.

Exit Strategy

  • Target to IPO in Bursa Malaysia by the year 2028
  • Exit via Merger & Acquisition by other company
  • Selling the business to a strategic buyer


Valuing IP concludes that the Fair Market Value of the IPR in particular Trademark “Fulry #forprinters” which operated under the scenario of a Going Concern basis as at 31st March 2023 should be within the range of RM0.99 million to RM1.69 million. Meanwhile, all things being equal HPM’s enterprise value shall be in the circa of RM 11.44 million to RM18.46 million. Henceforth, VIP opines that the Highest and Best Use Value of IPRs and Enterprise Value for Heat Press Mart Sdn Bhd shall be RM1.44 million and RM13.14 million respectively (see table 1 to table 3 below)


  1. pitchIN and its officers and staff may also be investing in this campaign
  2. Under ECF Guidelines, valuation is determined and set by the Issuer. Investors are advised to carefully peruse all investment offers and documents before making investment decisions.
  • Equity - OS
  • ~ up to 12.28%
  • RM 11,000,000
  • RM 352,000
  • RM 1,540,000
  • -
  • Heat Press Mart Sdn Bhd
  • 37-1, Block D1, Jalan PJU 1/41, Dataran Prima, Petaling Jaya
  • 1203800U
  • -
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