Vanzo Holding Bhd’s IPO appears to be a risky investment opportunity given the lack of clear differentiation in its business model and the highly competitive nature of its industry. The company’s financials show concerning debt levels and inconsistent revenue growth, raising questions about its ability to sustain long-term profitability. Additionally, the IPO’s pricing seems relatively high compared to similar companies in the sector, potentially overestimating the company’s growth prospects. Investors may want to exercise caution and carefully evaluate the long-term viability of Vanzo Holding Bhd before committing to the offering.