Mobile sharing-based Sedania to raise RM19.5m from IPO

KUALA LUMPUR: Telecommunications and IT business-based Sedania Innovator Bhd plans to raise RM19.55mil from its proposed listing on the Ace Market of Bursa Malaysia Securities Bhd.

In its prospectus issued on Tuesday, it announced it was selling 51.46 million new shares at an offer price of 38 sen each.

Sedania is offering for sale nine million shares to the public while one million units would be offered to the directors and entitled employees while the bulk of 41.46 million shares would be placed out.

Of the RM19.6mil, RM6.8mil will be for working capital, RM4.1mil for marketing expenses, RM4mil for capital expenditure, RM2.5mil for research and development and RM2.2mil for listing expenses.

Managing director Datuk Azrin Mohd Noor said he intends to list the company on the ACE Market on June 29.

The company provides airtime sharing solutions, including transfer that allows prepaid and/or post-paid mobile subscribers to transfer airtime credit to other prepaid subscribers on the same telecommunications network through SMS.

It also provides the airtime sharing request, which enables prepaid mobile subscribers with low or zero credits to request airtime credit other prepaid or post-paid subscribers on the same telecommunications network through SMS. It also offers SMS broadcast, mobile billing, mobile content, Islamic content, and web portal services.

In July 2014, it acquired IDOTTV Sdn Bhd which is an aggregator (platform and service enabler) specialising in providing ancillary services to mobile subscribers by partnering services providers such as mobile network operators (MNOs) and utility companies for their infrastructure and gateway.

Its ATS platform used the MNOs infrastructure and gateway to offer customises solutions to the MNO subscribers.

Source: http://www.thestar.com.my/Business/Business-News/2015/06/09/Mobile-sharing-based-Sedania-to-raise-RM19m-from-IPO/?style=biz

Dolphin to use IPO proceeds for factory expansion and working capital

KUALA LUMPUR: Dolphin International Bhd, headed for listing on the Main Market of Bursa Malaysia on June 9, will utilise more than 50 per cent of the RM31.28 million it expects to raise from its Initial Public Offering (IPO), for factory expansion and working capital. The rest will be for establishing a research and development facility and repay bank borrowings, said Group Managing Director Eric Low Teck Yin.

He said the listing would place the company in a stronger position to tap into Malaysia and Indonesia's huge palm oil milling machinery market.

There are over 439 mills in Malaysia and about 608 in Indonesia. Dolphin International is involved in the design, development, fabrication and sale of palm oil machinery.

"We will concentrate on catering to the demand for process integration and automation solutions that enhance productivity, safety and efficiency, while improving our facilities in Shah Alam and Puchong as well as innovating new solutions for customers in both countries," Low said.

He told reporters this after launching Dolphin International's IPO prospectus here today.

Low said the company's market share at present in the palm oil milling machinery sector was 3.2 per cent in Malaysia and 0.5 per cent in Indonesia.

The automation solutions for the palm oil milling machinery industry, he added, ensure production processes run in a more consistent manner.

Dolphin is issuing 46 million new ordinary shares of 20 sen each at an issue price of 68 sen per IPO share.

The public issue of 46 million new ordinary shares comprise 15 million IPO shares available for the Malaysian public and 8.25 million for the company's group directors and employees. It includes 22.75 million IPO shares for private placements, of which 2.5 million shares are for selected investors and 20.25 million for Bumiputera investors, approved by the Ministry of International Trade and Industry.

May 2015 petrol price

Source: http://car.cari.com.my/portal.php?mod=view&aid=58839&mobile=2

Redtone's Penang wifi project gets two-year extension

Source: The Edge Financial Daily

March fuel prices up 25 sen per litre

PETALING JAYA: Petrol and diesel prices will go up by 25 sen litre from March 1, the Domestic Trade, Cooperatives and Consumerism Ministry announced in a statement Saturday.

RON95 petrol will be priced RM1.95 (up from RM1.70), RON97 petrol at RM2.25 (up from RM2) and diesel at RM1.95 (up from RM1.70).

This follows the Ministry's decision to set the market prices of RON95 petrol and diesel on a managed float, starting from Dec 1 last year.

In the statement, Minister Datuk Seri Hasan Malek said prices were determined based on the average cost price of the product during February 2015 and currency exchange rates.

"The Government will monitor the development of the market price of the products' costs and currency exchange rates every time to set the retail price of petrol and diesel for the following months," said Hasan.

The Minister reminded all oil companies and petrol station operators to comply with the new pricing.

"Stern action will be taken against those who violate the rules relating to the new prices set by the Government," he added.

Source: http://www.thestar.com.my/News/Nation/2015/02/28/fuel-price-up-25-sen/