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• Agricultural Equipment: Agroz manufactures and sells a wide range of machinery, including tractors, combines, and irrigation systems for modern farming operations.
• Crop Inputs: The company develops and distributes fertilizers, pesticides, and specialized nutrients designed to enhance crop health and optimize yields.
• Seed Technology: Agroz specializes in the research, development, and sale of high-quality seeds engineered for superior performance, disease resistance, and environmental adaptation.
• Precision Agriculture Solutions: Agroz provides advanced digital tools and platforms for data-driven farming, enabling farmers to optimize resource use and improve productivity through analytics and automation.

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Upon comprehensive review of financial databases and public company records, a public company with the symbol AGRZ named "Agroz" could not be definitively identified. It is possible that the company is private, a regional entity not widely covered, or the symbol/name combination provided is hypothetical for this exercise.

However, to fulfill the request based on the assumption of a hypothetical public company named Agroz operating in the agricultural sector (e.g., as a producer or major supplier of agricultural commodities, inputs, or processed ingredients), its primary customers would most likely be other businesses (B2B). Below are categories of such potential major customers, along with examples of public companies that would fit these profiles:

Major Customers (Hypothetical)

• Food Processing and Manufacturing Companies: These companies purchase raw agricultural commodities (e.g., grains, produce, meats, dairy) or semi-processed ingredients from suppliers like Agroz to manufacture a wide array of consumer food products, beverages, and other food-related items.
  • Archer-Daniels-Midland Company (NYSE: ADM)
  • General Mills, Inc. (NYSE: GIS)
  • Tyson Foods, Inc. (NYSE: TSN)
• Major Grocery Retail Chains: Large supermarket and hypermarket chains that buy bulk agricultural products, fresh produce, and packaged foods directly from suppliers for resale to individual consumers through their extensive retail networks.
  • Walmart Inc. (NYSE: WMT)
  • The Kroger Co. (NYSE: KR)
  • Costco Wholesale Corporation (NASDAQ: COST)
• Foodservice Distributors: These companies act as intermediaries, purchasing food products and ingredients from various suppliers, including agricultural firms, and then distributing them to a diverse client base such as restaurants, hotels, schools, hospitals, and other institutional foodservice providers.
  • Sysco Corporation (NYSE: SYY)
  • US Foods Holding Corp. (NYSE: USFD)

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Gerard Lim, Director and Chief Executive Officer

Mr. Lim, also known as Kim Meng Lim, has been the Chief Executive Officer of Agroz Inc. since January 2024 and a Director since August 2023. He is also the founder of Agroz. He brings over 28 years of experience in the technology, media, and telecommunications sector. Mr. Lim previously served as the Chief Digital Officer at the Malaysian Communications and Multimedia Communications, a regulatory body in Malaysia. Since January 2021, he has also been an independent non-executive director of Allianz Malaysia Berhad.

May Sim, Chief Financial Officer and Principal Accounting Officer

Ms. Sim, also known as May Jin Sim, serves as the Chief Financial Officer and Principal Accounting Officer of Agroz Inc. Further detailed background information on her previous companies, sales, or private equity involvement is not readily available.

Wee Lee, Chief Technology Officer

Mr. Lee, also known as Wee Adrian Lee, is the Chief Technology Officer of Agroz Inc. Further detailed background information on his previous companies, sales, or private equity involvement is not readily available.

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The public company Agroz (AGRZ) faces several significant business risks, primarily centered on its financial stability, operational controls, and regulatory adherence.

The most significant risk to Agroz is its declining margins and inability to achieve effective scaling and margin stabilization. Despite experiencing revenue growth, Agroz has seen its margins plummet, with net income significantly decreasing. The company has also recorded its lowest free cash flow in its history, leading to increased debt to offset capital expenditures. Analysts have recommended avoiding investment in Agroz until it can demonstrate effective scaling and an improvement or stabilization of its margins.

Secondly, Agroz has identified material internal control weaknesses. These include a lack of effective information technology (IT) general controls, insufficient financial reporting and accounting personnel with knowledge of IFRS and SEC reporting requirements, inadequate segregation of duties concerning sales and customer data management, and the absence of formal internal control policies and independent supervision functions. The company is reportedly working on remedial measures to address these weaknesses.

Finally, Agroz faces risks related to regulatory non-compliance and going concern doubts. The company is not currently in compliance with certain Malaysian regulatory requirements, specifically the Occupational Safety and Health Act 1994 (OSHA 1994). While efforts are underway to achieve compliance, non-compliance could result in fines, penalties, operational disruptions, and even potential imprisonment for management. Furthermore, Agroz's previous auditor's reports included a "going concern" explanatory paragraph, highlighting significant doubts about the company's ability to continue operating.

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Agroz (AGRZ) operates in the rapidly expanding agricultural technology sector, primarily focusing on Controlled Environment Agriculture (CEA) and vertical farming. Their main products and services include the design, construction, operation, and management of indoor CEA vertical farms, the sale of turnkey vertical farm systems, and the distribution of fresh produce grown in these farms. Agroz also leverages proprietary AI and robotics for optimizing farm productivity, embodied in their Agroz OS system, Agroz Robotics, and Agroz Copilot for Farmers.

The addressable markets for Agroz's main products and services can be identified within the broader global and regional markets for vertical farming, controlled environment agriculture, and agricultural technology (AgTech).

Addressable Markets:

• Global Vertical Farming Market: The global vertical farming market size is estimated to be between USD 9.55 billion and USD 9.66 billion in 2025. Projections indicate significant growth, with the market expected to reach between USD 49.25 billion by 2033 and USD 90.71 billion by 2034, growing at compound annual growth rates (CAGR) ranging from 21.1% to 28.8% during the forecast periods.
• Global Controlled Environment Agriculture (CEA) Market: The global CEA market was valued at approximately USD 110.69 billion to USD 122.14 billion in 2024. It is projected to reach approximately USD 282.40 billion by 2032 to USD 557.74 billion by 2035, with CAGRs ranging from 11.36% to 19.2% from 2025.
• Southeast Asia Indoor Farming Market: Agroz, primarily based in Malaysia, is planning further expansion into Southeast Asia. The Southeast Asia indoor farming market is projected to grow at a CAGR of approximately 7.20% during the period 2024-2030.
• Gulf Cooperation Council (GCC) Vertical Farming Market: Agroz is also targeting expansion into the GCC region, including Oman and the United Arab Emirates. The GCC vertical farming market was valued at approximately USD 483.91 million in 2024 and is expected to reach approximately USD 1,235.85 million by 2033, exhibiting a CAGR of 10.43% during 2025-2033. Another report estimates the Middle East vertical farming market at USD 421.0 million in 2025, projected to reach USD 862.0 million by 2030 at a CAGR of 15.41%. The broader GCC indoor farming market is projected to reach USD 1,426.79 million by 2029 with a CAGR of 13.1%.
• Global AgTech Market: The broader global AgTech market, which includes Agroz's AI and robotics solutions, is estimated to be worth over USD 26 billion in 2025. This market is projected to surpass USD 74 billion by 2034, with a CAGR of 12.2% from 2025.

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1. Expansion to new markets: Agroz plans to expand its product and service offerings into new regional markets, specifically targeting Southeast Asia and the Gulf Cooperation Council (GCC) region. The company has already received expressions of interest from potential customers in Oman and the United Arab Emirates.
2. Launch and growth of new products and services: Agroz is focusing on new and recently launched technological solutions. This includes the "Agroz Groz Wall," developed in partnership with Harvest Today, which is aimed at various venues like farms, hotels, and schools. Additionally, Agroz is set to debut "AI-Driven Agroz Robotics" to enhance sustainable food production. The Agroz Copilot for Farmers, an AI assistant developed with Microsoft's Azure OpenAI Service, is designed to help growers monitor crops, adjust conditions, and improve yield predictions, moving towards fully autonomous farm management.
3. Growth of Agroz OS and AI-driven optimization: The company's core offering of fully vertically integrated Controlled Environment Agriculture (CEA) vertical farms leverages its proprietary Agroz OS system, AI-driven optimization, and robotics. This system is designed to reduce operating costs, increase crop yields, and accelerate time-to-harvest, positioning Agroz to redefine food production through scalable, data-driven vertical farming solutions.
4. Expansion of the Farming-as-a-Service (FaaS) model: Agroz is actively expanding its FaaS model into various regions, including Indonesia, Thailand, and the Middle East. This involves partnering with governments and private firms to deliver ready-to-run farm systems that utilize significantly less water and land compared to traditional farming methods.
5. Addressing the demand for sustainable agriculture and food security: Agroz positions its advanced AI and vertical farming technologies as a crucial solution to global food security challenges. By delivering fresh, safe, and pesticide-free produce, the company aims to meet the rising demand for sustainable agriculture solutions worldwide.

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Share Issuance

• Agroz completed its Initial Public Offering (IPO) on October 2, 2025, listing on the Nasdaq Capital Market under the ticker symbol "AGRZ".
• The company issued 1,250,000 ordinary shares at a public offering price of $4.00 per share, resulting in gross proceeds of approximately $5.0 million.
• Underwriters were granted a 45-day option to purchase up to an additional 187,500 ordinary shares at the IPO price.

Inbound Investments

• The company's primary inbound investment was the approximately $5.0 million in gross proceeds raised from its Initial Public Offering (IPO) in October 2025.

Capital Expenditures

• Agroz planned to utilize approximately 15% of its IPO net proceeds for capital expenditures, equating to roughly $0.75 million from the $5.0 million raised.
• The company's capital expenditures are primarily directed towards the design, construction, management, and operation of indoor Controlled Environment Agriculture (CEA) vertical farms.
• As of April 2025, Agroz had made a significant recent investment of at least $1.67 million, which was its largest investment to date.