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IPO: Betamek Berhad

sl3ge — Fri, 30 Sep 2022 10:17:51 +0800

ACE Market-bound Betamek aims to raise RM34m from IPO

KUALA LUMPUR (Sept 28): Betamek Bhd, which is slated to be listed on the Bursa Malaysia’s ACE Market on Oct 26, aims to raise RM33.8 million from its initial public offering (IPO) exercise.

Under the listing exercise, Betamek is issuing 67.5 million new shares, representing 15% of the enlarged share capital at an issue price of 50 sen per share.

Based on the enlarged share capital of 450 million shares, Betamek is expected to have a market capitalisation of RM225 million upon listing.

Betamek is an electronic manufacturing services (EMS) provider specialising in design and development, procurement and manufacturing of customised electronics and components for the automotive industry.

In a statement in conjunction with the company’s prospectus launch on Wednesday (Sept 28), the group said the bulk of the IPO proceeds, amounting to RM10 million, will be used for the repayment of bank borrowings.

A total of RM7 million will be allocated to fund Betamek’s research and development (R&D) activities for new product development and RM6.5 million to further expand its R&D office space, raw material storage and ancillary facilities to cater for its future growth, as well as for future R&D activities.

According to the company, RM3.9 million of the proceeds will be utilised for its general working capital, RM3.4 million to defray the estimated listing expenses, while the remaining RM3 million will be used to acquire machinery and equipment for its existing factory in Rawang to enhance its manufacturing efficiency.

Betamek managing director Mirzan Mahathir said the company is in discussion with its technology partners to develop and introduce more innovative technologies and new product solutions that have market potential.

“Over the years, we have been expanding our product portfolio by including new automotive electronic solutions and technologies required to complement the features of our products. As hybrid, electric and autonomous vehicles gain global market share, Betamek is in a unique position to leverage this growing market trend and expand and diversify our product offerings with competitive solutions that incorporate the innovative Malaysian DNA.

“Today’s vehicle infotainment system entails evolution of the vehicle-stereo technology alongside elements of audio and video, Internet of Things (IoT), GPS and navigation capabilities as well as vehicle safety and security.

“We consider that there are still many untapped opportunities for product segments in relation to advanced driver assistance systems, entertainment and connectivity, IoT and accessories of vehicles. This IPO exercise will be a great boost to our future R&D activities,” he explained.
Minimal impact from supply chain issue, weakening ringgit against US dollar

According to Betamek, the company sees minimal impact from the supply chain issue as well as the weakening ringgit against the US dollar.

“Even during the global shortage of raw material supply, we have managed to handle the situation with close collaboration with our customers and the agility of our R&D team to look for alternative components to replace those in short supply. We have a 100% track record on delivery to our customers during this shortage without disruption,” Betamek chief operating officer Megat Iskandar Hashim Ismail told reporters at a virtual press conference on Wednesday.

“We have congregated several local suppliers that continue to be on the list of approval with our buyers and as well as with our suppliers from overseas in Hong Kong, Taiwan, Japan, and China,” he added.

Betamek chief financial officer Nor’ Azrin Nusi said the group is also optimistic about delivering strong earnings in the upcoming financial quarters as most of its revenues are derived from its major customer Perusahaan Otomobil Kedua Sdn Bhd (Perodua).

“We are optimistic and our revenues are derived from our major customer, Perodua, which is delivering more units to the market. As long as Perodua delivers, we will deliver. We have consistently performed as Perodua’s best suppliers on cost, quality and delivery,” he added.

According to the group’s fact sheet, its profit after tax (PAT) has been rising from RM10.9 million in the financial year ended March 31, 2020 (FY20) to RM12.2 million in FY21, and RM13.5 million in FY22.

Revenue stood at RM130.7 million in FY20, RM129.9 million in FY21, and RM133.1 million in FY22.

M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.
By Lam Jian Wyn

https://www.theedgemarkets.com/article/ace-...raise-rm34m-ipo

IPO: Sunview Group Berhad

sl3ge — Mon, 26 Sep 2022 09:39:24 +0800

Sunview to raise RM34m via IPO on ACE Market

KUALA LUMPUR (Sept 23): Sunview Group Bhd, which is en route to list on the ACE Market of Bursa Malaysia on Oct 17, is seeking to raise RM34.22 million in its initial public offering (IPO).

The end-to-end solar photovoltaic (PV) system construction player said the IPO involved the issuance of 118 million new shares at an IPO price of 29 sen per share.

Of the total proceeds raised from IPO, RM20.1 million or 58.72% will be used to fund the group's working capital requirements.

Another RM7 million or 20.46% will be for repayment of bank borrowings, RM1.86 million or 5.42% for capital expenditure and RM1.67 million 4.88% for business expansion.

The remaining RM3.6 million or 10.52% will be used to defray listing expenses.

Upon listing, the group will have a market capitalisation of RM135.72 million, based on its enlarged share capital of 468 million shares and IPO price of 29 sen per share.

Speaking at the IPO prospectus launch on Friday (Sept 23), Sunview chief executive officer Ong Hang Ping said, "Despite the group only being in existence for less than 10 years, our growth story is a testament of the hard work and effort we poured into the company. In a short span of time, we have grown leaps and bounds from being a small engineering, procurement, and commission contractor, mainly for rooftop solar PV facilities, to where we are today, that is an integrated renewable energy player specialised in EPCC (engineering, procurement, construction and commissioning) and construction and installation services for solar PV facilities, provision of solar power generation and supply as well as associated services and products."

To sustain its growth momentum, Ong said the group has set its sights on expanding its existing businesses.

"We intend to strengthen our solar PV business by leveraging on our track record to secure new contracts to boost our order book. We also plan to expand solar power generation and supply business to build a strong recurring income stream for the group.

"Moreover, we are looking to expand into EPCC of biogas plants and complementary products. We are able to capitalise on our current expertise and experience to address potential opportunities in this segment and provide complementary products, including Internet of Things solar energy system and current limiting reactor system for solar PV power applications," Ong added.

Ong shared that the group has planned to set up a new office to facilitate business expansion in Johor to enhance its market position in the southern region.

Sunview is a renewable energy player principally involved in EPCC as well as construction and installation services of solar PV facilities, solar power generation and supply as well as associated services and products.

Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter and placement agent for this IPO exercise.
By Surin Murugiah

https://www.theedgemarkets.com/article/sunv...-ipo-ace-market

IPO: Cosmos Technology International Berhad

sl3ge — Thu, 15 Sep 2022 10:41:54 +0800

Bursa ACE Market-bound Cosmos Technology to be listed on Oct 6

KUALA LUMPUR (Sept 14): Cosmos Technology International Bhd, which is scheduled to be listed on Bursa Malaysia's ACE Market on Oct 6 at 35 sen a share, said on Wednesday (Sept 14) that it plans to raise about RM22.44 million from its initial public offering (IPO), which involves a public issue of 64.13 million new shares.

According to Cosmos' prospectus which was filed with Bursa on Wednesday, Cosmos plans to use the estimated RM22.44 million gross proceeds to finance among others, the acquisition of a new building and purchase of new machineries.

Based on Cosmos' issue price of 35 sen a share and the company's enlarged number of outstanding shares at 256.5 million, the company will have a market capitalisation of about RM89.78 million upon listing, the water technology solutions provider said.

Substantial shareholders of Cosmos include Datuk Chong Toh Wee and Singapore-listed MSM International Ltd, which will own 40.5% and 27% stakes in Cosmos respectively after the IPO, according to Cosmos.

Chong is also the managing director of Cosmos, the company said.

Cosmos said investors' application for the company's shares starts on Wednesday and that the application's closing date is on Sept 22, 2022.

Mercury Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for Cosmos' IPO in conjunction with Cosmos' planned ACE Market listing, according to the prospectus.

Prior to the current IPO, Cosmos was initially listed on Bursa as a LEAP Market entity on March 9, 2020 at 28 sen.

"Subsequently, our company was delisted from the LEAP Market on Nov 10, 2021, pursuant to the withdrawal of the listing from the LEAP Market, to facilitate the listing on the ACE Market," said Cosmos, which had on Wednesday organised a press conference in conjunction with the prospectus launch for the company's proposed ACE Market listing.

In a statement issued to reporters covering the press conference here, Chong said the ACE Market listing will enable Cosmos to enhance its corporate image among its customers, suppliers, employees and other stakeholders, as well as provide funding for the expansion of Cosmos' business.

“With this IPO, we will be able to streamline and consolidate our operations and purchase new machineries to enable us to increase our manufacturing capacity and capability that can take us to even greater heights,” Chong said.

Cosmos' financial performance is expected to improve in 2022. Its prospectus shows that the company's net profit is expected to rise to RM5.79 million in its financial year ending 2022 (FY22), from RM5.59 million a year earlier.

Meanwhile, Cosmos is expected to record a higher revenue at RM49.12 million in FY22, versus RM33.72 million a year earlier.

"Our company presently does not have a fixed dividend policy. As our company is a holding company, our income and therefore, our ability to pay dividends is dependent upon the dividends we receive from our subsidiaries from time to time.

"The payment of dividends or other distributions by our subsidiaries will depend upon their operating results, level of cash, retained earnings and gearing, capital expenditure and working capital requirements, business expansion and investment plans, and other relevant factors," Cosmos said.

By Chong Jin Hun
theedgemarkets.com

OM Holdings

sl3ge — Sat, 12 Jun 2021 08:41:01 +0800

OM Holdings' Bursa debut on June 22 in first Malaysia-Australia cross listing

KUALA LUMPUR (June 11): Australia-listed mining firm OM Holdings Ltd (OMH), which is seeking a secondary listing in Malaysia, said today the tentative listing date of OMH shares on the Main Market of Bursa Malaysia is June 22, 2021.

It is the first cross-listing on Bursa and the Australian Securities Exchange (ASX), according to OMH’s invitation email in conjunction with the company’s prospectus launch today ahead of the group’s Bursa listing.

In filings with Bursa today, OMH said its shareholders may commence the process of removing their shares from the Australian to the Malaysian register via the submission of a register removal request with OMH’s Australian share registrar, Computershare Investor Services Pty Ltd.

"The register removal process will take at least three market days to complete,” OMH said.

"Holders who wish to commence trading of their shares on the listing date on June 22, 2021 should submit their register removal request to the Australian share registrar by 10am (Sydney time) on June 16, 2021,” said OMH, which already has existing operations in Malaysia.

According to OMH today, the company’s Bursa listing is by way of introduction.

Listing by introduction is a method of listing a company’s shares which are already in issue on another bourse.

The listing by the introduction process is similar to a company’s initial public offering (IPO).

OMH’s website indicates that the company, which is a vertically-integrated manganese ore and ferroalloy company, is engaged in the business of mining and trading of raw ores, as well as smelting and marketing of processed ferroalloys.

With an established history of over 25 years in the industry, OMH said the company, which is already listed on the ASX, captures value across the entire process chain through operations in Australia, China, Japan, Malaysia, Singapore and South Africa.

"Our latest project is a greenfield smelter complex in Sarawak, which successfully commenced production in 2014.

"Today, the group is one of the world’s leading suppliers of manganese ores and ferroalloys, and seeks to be the main ferroalloy supply partner to major steel mills and other industries.

"Through our global trading network, we distribute products from our Asia-Pacific base to customers around the world,” OMH said.

Meanwhile, Bernama quoted Low Ngee Tong, who is OMH's substantial shareholder, executive chairman and chief executive officer (CEO), as saying at a press conference today in conjunction with the prospectus launch that through the secondary listing on Bursa, OMH aims to broaden its investor reach and base, and increase the liquidity of its shares through separate trading platforms.

"We may undertake fundraising from the Malaysian capital market after the secondary listing and channel the funds towards expanding our Sarawak plant,” Low said.

On the ASX today, OMH's share price closed up A$0.03 or 3.03% at A$0.85 for a market value of about A$627.83 million (about RM2 billion).

OMH had 738.62 milion issued shares as at April 1, 2021, according to the company's latest annual report.

The annual report showed that Citicorp Nominees Pty Ltd is OMH's largest shareholder with a 27.16% stake.

Notable OMH shareholders include TA Securities Holdings Ltd, which has a 0.24% stake.

From: theedgemarkets

IGB Commercial REIT

sl3ge — Sat, 12 Jun 2021 08:40:00 +0800

IGB Commercial REIT opens IPO application, says Bursa listing on July 30

KUALA LUMPUR (June 10): IGB Commercial Real Estate Investment Trust (IGB Commercial REIT) said today its initial public offering (IPO) will involve the listing of 2.31 billion units on Bursa Malaysia’s Main Market under a corporate exercise which comprises a restricted offering of up to 945 million units and an institutional offering of at least 282 million units in the property trust.

In filings with Bursa today, IGB Commercial REIT said the property trust’s tentative listing date is on July 30, 2021.

IGB Commercial REIT, which opened its IPO application today, said “applications will be accepted from 10am on June 10, 2021 and will close at 5pm on July 6, 2021".

"All defined terms used herein [in the Bursa filing] shall have the same meanings as those defined in the prospectus issued by IGB Commercial REIT dated June 10, 2021.

"For the avoidance of doubt, there is no balloting of applications,” IGB Commercial REIT said.

IGB Commercial REIT said the restricted offering of up to 945 million units comprises a restricted offer for sale of up to 378 million units at RM1 each to IGB Bhd shareholders on the basis of two restricted offer-for-sale units for every five IGB Bhd shares held besides a distribution-in-specie of up to 567 million units in IGB Commercial REIT on the basis of three distribution-in-specie units for every two restricted offer-for-sale units subscribed.

According to IGB Commercial REIT, the institutional offering of at least 282 million units comprises an offer for sale of 282 million units in the property trust by certain IGB Bhd shareholders besides an offer for sale of unsubscribed restricted offer-for-sale units and the corresponding distribution-in-specie units to institutional investors and selected investors at a price to be determined by book-building.

In a separate statement today, IGB Commercial REIT said that upon listing, the property trust is expected to have a market capitalisation of RM2.31 billion based on the price of the restricted offer-for-sale units at RM1 each.

IGB Commercial REIT claims that the property trust will be the sixth largest Malaysian REIT and the largest stand-alone office REIT by market capitalisation, net lettable area and appraised value.

The sponsor and manager of IGB Commercial REIT are IGB Bhd and IGB REIT Management Sdn Bhd respectively, according to the statement.

"The sponsor and manager have extensive experience in real estate asset management and proven track records in managing and growing listed property funds, i.e. IGB REIT. Under the stewardship of both the sponsor and the manager, IGB REIT has demonstrated growth since its establishment, solely via organic growth.

"The sponsor will hold substantial ownership of at least 50% of IGB Commercial REIT, immediately following the completion of the offering, making it the largest unitholder. Accordingly, the interest of the sponsor will then be aligned with other unitholders,” IGB Commercial REIT said.

IGB REIT Management deputy chief executive officer (CEO) Wong Khim Chon said in the statement that the property trust manager believes that the large size and corresponding free-float of IGB Commercial REIT can enhance the visibility of the REIT among the local and international investment communities.

"We believe that IGB Commercial REIT will be able to leverage IGB Bhd’s track record in developing and operating commercial properties in addition to its financial strength, market reach and network of contacts to further IGB Commercial REIT’s growth,” Wong said.

On April 9, 2021, IGB Bhd said in a Bursa filing that vendors, including IGB Bhd subsidiaries, on that day entered into 10 sale and purchase agreements (SPAs) with MTrustee Bhd for the proposed disposals of 10 properties to IGB Commercial REIT for RM3.16 billion.

The properties are Menara IGB and IGB Annexe, Centrepoint South, Centrepoint North, Boulevard Properties, Gardens South Tower, Gardens North Tower, Southpoint Properties, Menara Tan & Tan, GTower and Hampshire Place Office, according to IGB Bhd.

From: theedgemarkets

Pekat Group Bhd

sl3ge — Fri, 23 Apr 2021 13:30:44 +0800

KUALA LUMPUR (April 22): Pekat Group Bhd, a solar photovoltaic (PV) and earthing and lightning protection (ELP) specialist, has inked an underwriting agreement with M&A Securities Sdn Bhd in conjunction with its initial public offering (IPO) exercise to list on the ACE Market of Bursa Malaysia.

Its IPO entails the issuance of 138.67 million new shares in the group, representing 21.5% of its enlarged issued share capital. As part of its listing exercise, the existing shareholders of the company will also make an offer for sale of 32.25 million shares to selected investors by way of private placement, according to Pekat in a statement today.

“Under the agreement, M&A Securities will underwrite a total of 48.37 million new shares made available for the Malaysian public and its eligible directors, employees as well as persons who have contributed to Pekat group’s success.

“The remaining 90.30 million new shares will be placed out to selected Bumiputera investors approved by the Ministry of International Trade and Industry and selected investors," Pekat said.

Besides being the underwriter, M&A Securities is also the adviser, sponsor and placement agent for Pekat's IPO.

Pekat managing director Chin Soo Mau said the listing will enable the group to raise funds for a new head office and operational facility, as it expands its solar PV and ELP businesses.

“Proceeds from the IPO would generally be used to expand our operations to take advantage of the upcoming growth in the solar PV industry, which will help us to expand our current capabilities," he said.

Part of the proceeds will also be used for working capital, in particular for the purchase of materials for its projects such as solar PV modules, solar PV inverters and ELP products and accessories, repayment of bank borrowing and to defray estimated listing expenses.

“To tap into the growing business opportunities, we require more skilled employees and financial resources. These two are crucial for us to secure more contracts, implement more projects concurrently and provide more maintenance services,” Chin added.

Apart from Chin, Pekat's substantial shareholders include its executive directors Tai Yee Chee and Wee Chek Aik, and Hextar Holdings Sdn Bhd. The latter is also a major shareholder of Main Market-listed Hextar Global Bhd.

Other than the design, supply and installation of solar PV systems and power plants, Pekat also supplies and installs ELP systems as well as distribute electrical products and accessories.

Its solar PV services cover the entire scope of work of a solar PV project from site assessment, design and application for regulatory approvals, procurement of components to system installation and commissioning, Pekat said. It also provides operations and maintenance services of solar PV systems.

By the edge
Tan Choe Choe

IPO: CTOS

sl3ge — Fri, 19 Mar 2021 13:17:26 +0800

CTOS submits for IPO on Bursa Malaysia, eyes valuation of over RM2b — sources

KUALA LUMPUR (March 19): CTOS Digital Sdn Bhd (formerly known as CTOS Holdings Sdn Bhd) has put in a submission for an initial public offering (IPO) exercise on Bursa Malaysia, said sources.

"They are looking at a potential valuation of over RM2 billion," said a source familiar with the plans.

When contacted about this, Creador's founder and chief executive officer Brahmal Vasudevan declined to comment.

The private equity firm has an 80% stake in CTOS.

In August last year, Brahmal told The Edge that his firm had hired bankers and was considering listing CTOS on either Bursa Malaysia or Nasdaq.

"It is still early days. We will have to look at the valuations and when is the right time to list.

"Our first preference on listing is always Malaysia as this will be an exciting fintech addition to our exchange," he said in August 2020.

The credit rating agency, which has its database online, offers a range of services that include e-KYC (e-Know Your Customer), advanced analytics, credit reports and scoring as well as fraud protection and monitoring.

According to publicly available information, CTOS made a revenue of RM129 million and a net profit of RM39 million in financial year 2019.

There were 19 listings on Bursa Malaysia last year that raised a total of RM2 billion, versus 30 listings in 2019 that raised the same amount of money.

Although the number of listings was lower in 2020, the IPOs collectively contributed a total of RM12.1 billion to the market capitalisation. This represented an increase of 51% from RM8 billion in 2019, according to Bursa Malaysia data.

In October last year, Creador-backed Mr DIY Group (M) Bhd undertook Malaysia's largest IPO since 2017, with a market capitalisation of RM10 billion, raising approximately RM1.5 billion from both institutional and retail investors.

From a listing price of RM1.60 in October 2020 five months ago, Mr DIY is trading 142% higher at RM3.87 today.

This year, there are six listings that have been undertaken and are currently proposed, according to Bursa Malaysia's website. CTOS has not yet appeared on the list.

Of the six, five are for the ACE Market, while the remaining one is for the LEAP market.

By
Lam Jian Wyn
https://www.theedgemarkets.com/article/ctos...2%80%94-sources

Econframe IPO

sl3ge — Mon, 05 Oct 2020 21:19:36 +0800

Econframe to raise RM18.2m from IPO

KUALA LUMPUR (Oct 5): ACE Market-bound total door system solution provider Econframe Bhd is aiming to raise RM18.2 million from its initial public offering (IPO) for expansion plans.

Econframe managing director Lim Chin Horng in a statement said the group is expected to improve its annual operating capacity by 35% for both its metal door frames and fire-resistant door sets, with an improved manufacturing workflow and upgraded manufacturing technology.

According to him, the group’s focus moving forward is to expand its capabilities to capture a larger market share by acquiring new customers as well as catering for larger orders from its existing pool of clients.

“Using the funds raised, we intend to acquire a new piece of land and subsequently construct a manufacturing plant to house all our facilities under one roof. This will significantly improve our operational efficiency and productivity as compared to having four separate factories,” he added.

Apart from that, the group will be investing in automation as a means to further improve its operating efficiency.

“We plan to accomplish this by equipping our facilities with advanced robotic technology,” he said.

The group is also looking into expanding its production capabilities to include wooden doors, which are currently sourced from third-party suppliers.

Of the total funds raised, RM5 million would be allocated for land acquisition and construction of the new manufacturing facility, followed by RM4 million for the investment in manufacturing automation, RM6.2 million for working capital needs and the remaining RM3 million for estimated listing expenses.

The IPO exercise entails an issuance of 65 million new shares and an offer for sale of 32.5 million existing shares at an issue price of 28 sen per share.

Econframe is slated to be listed on Oct 27.

From theedge

Aneka Jaringan IPO

sl3ge — Thu, 01 Oct 2020 22:38:06 +0800

Aneka Jaringan aims to raise RM46.16 mil from ACE market IPO

KUALA LUMPUR (Oct 1): Aneka Jaringan Holdings Bhd, a piling and foundation specialist, aims to raise RM46.16 million from its ACE Market listing on Oct 20.

The initial public offering (IPO) exercise involves the issuance of 139.89 million new shares at 33 sen apiece, which brings its market capitalisation to RM177.57 million.

In its prospectus launched today, the proceeds raised would accelerate the company’s growth by increasing its fleet of machinery in Malaysia.

Of the RM46.16 million total proceeds, RM17.30 million will be used to purchase rotary drilling rigs and crawler crane. The rest will be for repayment of borrowings (RM24.26 million) and to defray IPO expenses (RM4.60 million).

Speaking at a press conference after the launch here, managing director Pang Tse Fui said with the expansion of the machinery fleet, the company’s revenue was expected to return to its pre-Covid-19 level of RM200 million in the financial year ending Aug 31, 2021 (FY21), and grow 20%-30% in FY22.

To ensure continuous projects to be secured amid the current challenging economic situation, the company had been slashing its tender prices and would continue to do so in the near term, he said.

“But we will maintain our profit margin baseline at five per cent,” he said.

Pang, however, discounted the possibility of its profit margin to be affected by material cost, as main material costs took only about 40%-50% of its total cost.

Pang said Aneka Jaringan would shift its focus to government projects, which currently constituted only about 20% of its total jobs. At present, 80% are private projects.

“With the economic slowdown, we have to shift our focus to government infrastructure projects.

“The East Coast Rail Link (ECRL) is our first priority, and we will participate in any government infrastructure projects in the future,” he said, adding that the company was bidding for the Kuantan-Kota Bharu stretch of the ECRL project.

Given Singapore's massive spending on infrastructure development, Aneka Jaringan would expand its footprint in the republic post-listing, Pang said, adding that it was looking at securing nearly S$100 million worth of projects there.

“We have registered our branch office in Singapore to start bidding for projects by the first quarter of 2021.

“The projects that we are looking at include the Cross Island Line, the Terminal 5 project at Changi International Airport, and water treatment plant projects in Tuas,” he said.

Pang expects the projects in Singapore to start contributing to the company’s earnings in the third quarter of 2021.

The company’s tender book was about RM1 billion, with its Malaysia order book standing at RM95 million and the order book in Indonesia at about RM3 million, he added.

The group's key clients include IJM Construction Sdn Bhd, MRCB Builders Sdn Bhd and PT Waskita Karya from Indonesia.

From the edge

Samaiden IPO

sl3ge — Mon, 28 Sep 2020 17:17:41 +0800

ACE Market-bound Samaiden to raise RM29m from IPO

KUALA LUMPUR (Sept 28): ACE Market-bound Samaiden Group Bhd plans to raise RM29.35 million from its initial public offering (IPO).

According to Samaiden's prospectus launched today, its IPO involves a public issue of 61.16 million shares at 48 sen each.

With an issue price of 48 sen per share and an enlarged issued base of 210 million shares, Samaiden will have a market capitalisation of RM100.8 million, the prospectus showed.

The group said with the launch of the prospectus, applications for the public issue are open from today and will close on Oct 5.

Tentatively, the group is scheduled to be listed on the ACE Market of Bursa Securities on Oct 15, 2020.

Samaiden is primarily involved in the engineering, procurement, construction and commission (EPCC) of solar photovoltaic (PV) systems and power plants. The other business activities include the provision of renewable energy and environmental consulting services, as well operations and maintenance services.

At a press conference after Samaiden's prospectus launch today, its group managing director Ir Chow Pui Hee said out of the total IPO proceeds, RM2.54 million will be for business expansion and marketing activities.

Under the business expansion plan, the group plans to set up sales and technical support offices in Penang and Sabah and Bac Lieu Province in Vietnam to serve its new and existing customers.

The expansion into Sabah is due to “high needs” for electricity demand coupled with a good supply of sunlight resources there, Chow explained.

The expansion into Vietnam due to the development of renewable energy is encouraging, especially in solar energy, citing that the growth pace of solar energy there is much faster than in Malaysia.

Another RM7 million has been earmarked for the purchase of a new corporate office and RM1.17 million will be set aside for the capital expenditure for purchasing equipment and IT software and hardware.

Meanwhile, RM15.44 million will be used for working capital, of which RM8 million is earmarked for tender bonds and performance bonds for its future EPCC projects, RM4 million for the bulk purchase of materials for EPCC solar PV system projects, RM3 million for payment of administration and operating expenses while the remaining of RM300,000 is for training and development of technical staff.

The remaining RM3.2 million of the total proceeds will be utilised to defray the listing expenses.

On Samaiden’s prospect, Chow said the group can capitalise on the government’s initiatives to boost the country's renewable energy capacity mix target to 20% by 2025.

“The bottom line is that the outlook for the renewable energy industry and solar PV sector are extremely bright. We, at Samaiden, strongly believe that the growth potential is there for us to tap into, together with our sights trained on Vietnam as our foreign market expansion target.” she added.

Alliance Investment Bank Bhd is the principal adviser, sponsor, sole underwriter and placement agent for Samaiden’s IPO.

From theedgemarkets

Spring Art Holdings Berhad (upcoming IPO)

sl3ge — Thu, 17 Oct 2019 11:18:34 +0800

KUALA LUMPUR: Johor-based furniture player Spring Art Holdings Bhd, which is set to be listed on the ACE Market on Nov 8, will use the bulk of its initial public offering (IPO) proceeds to cater to rising demand for its products from the North American and European markets amid the US-China trade war.

The group said RM17.55 million, or 72% of the total proceeds of RM24.42 million, will be used to acquire machinery to set up two additional production lines at its new manufacturing factory in Muar, Johor.

Located about 10km from its existing facilities, the new factory will have a total built-up area of 103,926 sq ft. It is expected to start operations in July 2022 and double Spring Art’s combined annual manufacturing capacity to 674,000 units per annum, from 337,016 units as at mid-September.

“I think that [the ongoing US-China trade tensions] will be beneficial to us, because enquiries from the US market are increasing, and we are also keeping in touch with several customers who are very interested to develop products with us,” Spring Art managing director Jack Lim Kok Eng told a press conference at the IPO prospectus launch yesterday.

Furniture is among the Chinese goods slapped with tariffs by the US Department of Commerce since about a year ago. The tariffs rose to 25% in June from 10% in September last year. There will be a further hike this month to 30%, making US imports of Chinese-made furniture more expensive.

Lim said Spring Art will also be able to take advantage of the stronger US dollar as the group exports all of its products.

Spring Art is principally involved in the manufacturing and exports of ready-to-assemble furniture products, where it undertakes the design and development, as well as marketing and sales of office furniture, bedroom furniture, living room furniture and other furniture types.

The group’s unassembled, flat-pack business model allows it to be less labour-intensive as compared to conventional furniture players, besides reducing volume and shipping cost, thereby improving its cost competitiveness.

According to its prospectus, Spring Art posted a net profit of RM6.23 million against a revenue of RM50.38 million for 2018.

The group’s three existing facilities in Muar were 95% utilised as at April for exports to 35 countries. The Middle East market contributed 50.4% of group revenue, followed by Asia-Pacific countries India and Japan at 41.1%. North and Latin America accounted for 4.6%, while the remaining 3.9% included African and European nations.

The IPO involves the issuance of 97.69 million new shares representing 23.5% of Spring Art’s enlarged share capital. The offer price is set at 25 sen apiece.

Of the new shares, 20.78 million will be made available to the Malaysian public via balloting. Another 4.16 million shares are for eligible directors and employees as well as persons who have contributed to the success of Spring Art, while the remaining 72.75 million shares are earmarked for private placement to selected investors, including government-approved bumiputera investors.

As part of its listing exercise, existing shareholders will also make an offer for sale of 27.02 million shares by way of private placement to selected investors.

Based on the enlarged share capital of 415.69 million shares, Spring Art is expected to have a market capitalisation of RM103.92 million.

AME Elite Consortium Bhd

sl3ge — Sat, 28 Sep 2019 07:47:15 +0800

KUALA LUMPUR: Main Market-bound integrated industrial property solutions provider AME Elite Consortium Bhd aims to raise RM111.1 million from its initial public offering (IPO) on Bursa Malaysia for business expansion.

AME’s IPO comprises a public issue of 85.4 million new shares representing up to 30% of its enlarged issued share capital, along with an offer-for-sale of 42.7 million existing shares, at an issue price of RM1.30 per share. This means the entire IPO deal amounts to RM166.6 million, of which RM55.5 million would go to the selling shareholders via the offer-for-sale.

Group managing director Kelvin Lee Chai said the proposed listing is the culmination of AME’s track record in undertaking design-and-build projects for large manufacturing plants and industrial buildings in Malaysia, as well as developing industrial parks in Johor under the “i-Park” brand.

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“Our integrated business model serves us well. Our expertise in design, construction, sale and lease enables us to uphold a track record of quality and speed in delivering comprehensive industrial property solutions for enterprises in various industries.

“We believe it is timely for AME to bring our distinct brand of i-Park to rapidly industrialise states across Peninsular Malaysia, allowing us to play our role to support the country’s increasing trend in foreign direct investment, and enabling international and local corporations to advance towards Industry 4.0,” said Lee in a statement following the launch of the group’s prospectus.

Of the proceeds to be raised, RM69.1 million will be allocated for future industrial property development and investment projects, including land acquisitions and joint ventures, while RM23 million will be set aside for working capital for the i-Park@Senai Airport City development — including funding the initial development cost for Phase 3 of the project. Meanwhile, RM9 million will be set aside to complete the expansion of the group’s precast concrete fabrication capacity, while the remaining RM10 million will be used to defray its IPO expenses.

Of the new shares to be issued, 8.5 million shares will be put up for public application, and another 8.5 million shares will be set aside for eligible directors and employees. Meanwhile, it will place out 19.2 million shares to institutional and selected investors, and 49.1 million to bumiputera investors. As for the 42.7 million offer-for-sale shares, they will also be placed out to institutional and selected investors.

Applications for AME’s IPO opened yesterday and will close at 5pm on Monday. It is scheduled to be listed on Oct 14.

CIMB Investment Bank Bhd is the principal adviser, managing underwriter, joint underwriter and joint book runner, while RHB Investment Bank Bhd is the joint underwriter and joint book runner for the IPO.

[WTS] Final Fantasy XV Windows Version (Steam)

sl3ge — Sat, 19 Jan 2019 18:36:04 +0800

Item(s): Final Fantasy XV Windows Version (Steam)

Package includes: Redemption Code For Final Fantasy XV Windows Version (Steam)

Price: 99

Dealing method: Sent Redemption Code (Confirm work, If dont work refund)

Contact method/details: PM for more detail
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Item(s) conditions: New

[WTS] Diablo 3 Standard Edtion (PC)

sl3ge — Tue, 15 Jan 2019 13:08:19 +0800

Item(s): Diablo 3 Standard Edition (PC)

Package includes: CDkey only

Price: 49

Warranty: No

Dealing method: Pos

Contact method/details: Pm for detail
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Item(s) conditions: used

Original CDkey + Blizzard Account.

Pm for more detail.

[WTB] PS3 Slim

sl3ge — Sat, 05 Jan 2019 18:59:08 +0800

Item(s):PS3 Slim

Package includes:

Price: 420

Dealing method: COD/Post

Contact method/details: PM for more detail
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Nescafe Gold Blend Barista Machine

sl3ge — Sun, 16 Dec 2018 17:59:11 +0800

Item(s): Nescafe Gold Blend Barista Machine

Package includes: Everything

Price: 170

Warranty: No

Dealing method: Pos Laju

Location: Sibu

Contact method/details: Pm for more detail
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Item(s) conditions: Excellent Condition

https://www.youtube.com/watch?v=864si6W9Exc
https://www.youtube.com/watch?v=fhtIgD7MWIQ

Ipad Mini 2 with Retina Display RM699

sl3ge — Sat, 08 Dec 2018 12:37:08 +0800

Item(s):Ipad Mini 2 with Retina Display

Package includes: Box and all the things

Price: 699

Warranty: No

Dealing method: Pos laju

Contact method/details: PM for more detail
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Item(s) conditions: used 99% new. used casing and screen protector all the time

Picture:

[attachmentid=10130366]
[attachmentid=10130367]

[WTS] Oppo A3S RM499

sl3ge — Sat, 08 Dec 2018 12:31:18 +0800

Item(s):Oppo A3S

Package includes: Brand new sealed

Price: 499

Warranty: No

Dealing method: Pos Laju

Contact method/details: PM for more detail
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Item(s) conditions: Brand new sealed

Picture:

Brand new sealed not yet open

•SIZE: Big Screen 6.2” IPS LCD
•RESOLUTION: 720 x 1520 pixels
•OS :Android 8.1 (Oreo)
•CHIPSET: Qualcomm SDM450 Snapdragon 450
•INTERNAL: 16 GB, 2GB RAM
•BACK CAMERA: 13 MP + 2 MP
•FRONT CAMERA: 8 MP
•BATTERY : Non-removable Li-Ion 4230 mAh battery

[attachmentid=10130362]
[attachmentid=10130363]
[attachmentid=10130364]

Radiant Globaltech Berhad

sl3ge — Tue, 10 Jul 2018 11:28:04 +0800

KUALA LUMPUR (June 28): Retail technology solutions provider Radiant Globaltech Bhd, which is en route to list on the ACE Market of Bursa Malaysia on July 24, aims to raise RM29.5 million from the its initial public offering (IPO).

Radiant Globaltech's IPO entails a public issue of 128.1 million new shares representing 24.4% of the group's enlarged issued share capital, at an issue price of 23 sen per share.

At the prospectus launch today, Radiant Globaltech managing director Paul Yap Ban Foo said about RM11.6 million of the proceeds from the IPO would be used to support business and capital expansion.

"RM3 million would be allocated for the expansion of the group's retail software business, while RM4.8 million would be for working capital," added Yap.

Meanwhile, RM6.6 million will be slated for the repayment of bank borrowings with the remaining RM3.5 million for listing expenses.

In 2017, Radiant Globaltech captured 20% market share of Malaysia's retail technology solutions industry worth RM404.2 million.

Additionally, after its listing, the group will continue its expansion to the Indonesian market in the near term.

"We plan to distribute our retail hardware products and implement our retail management software services to retailers in Indonesia," said Yap.

Yap believes that the future of Radiant Globaltech is bright and exciting and with the full support of its IPO, the group will reach greater heights.

Receive unknown secure pin

sl3ge — Mon, 09 Jul 2018 13:41:52 +0800

RM0.00 : Your secure pin is xxxxxx. Valid for 15 mins. Please do not share this code with others under any circumstances.

Just now receive this secure pin, but i didnt request any.
Any it didnt show from where?
Anyone meet before..
Thanks