Ikhmas Jaya to invest RM32mil of IPO proceeds for new machinery

KUALA LUMPUR: Ikhmas Jaya Group Bhd plans to invest approximately RM32mil of its initial public offering (IPO) proceeds to purchase new construction equipment. 

Managing director Datuk Ang Cheng Siong said on Tuesday the investment would help the company leverage on many opportunities within the piling and construction industry. 

"Being listed will provide the company with a stronger platform to enhance our business and build a stronger corporate identity," he said at the company's prospectus launch. 

Ikhmas Jaya plans to invest about RM32mil of its IPO entails a public issue of 182 million shares of 25 sen each. The company intends to list on the Main Market of Bursa Malaysia on July 27. 

AmInvestment Bank is the adviser, sponsor, underwriter and placement agent for the IPO. 

Since its establishment in 1992, the company has completed projects for both the public and private sectors with a total contract value of RM1.7bil. 

Among its projects include the Putra and Prai bridges, Klang Valley Mass Rapid Transit-Kajang line, Kelana Jaya Light Rail Transit extension, Paradigm Mall and KL Eco City.

Source: TheStar

Logistics based Xin Hwa to raise RM26.45m from IPO

KUALA LUMPUR: Integrated logistics service provider Xin Hwa Holdings Bhd plans to raise RM26.45mil from its proposed listing on the Main Market of Bursa Malaysia Securities.

The Johor-based company said on Thursday the initial public offer (IPO) comprised of 54 million shares at an issue price of 70 sen per share -- 37.78 million new shares and 16.22 million existing shares.

Under the listing exercise, it would be selling nine million shares to the public, three million units for eligible directors, employees and other persons who have contributed to the success of the company.

Xin Hwa said 18.22 million shares would be offered to approved Bumiputera investors while the remaining 23.78 million shares would be placed out to selected investors.

Based on the issue price of 70 sen per share and the enlarged issued and paid-up of 180 million shares, it would have a market capitalisation of RM126mil.

It said of the RM26.45mil to be raised from the IPO, it plans to use RM11.35mil to expand its fleet and RM4.75 to build a new warehouse, RM3.75mil to repay borrowings, RM3.08mil as working capital and the remaining RM3.51 for estimated listing expenses.

Xin Hwa managing director Ng Aik Chuan said at the launch of the prospectus that its strong fundamentals would put it in good stead.

He said the proceeds raised would be mainly used to expand its business which included the construction of a new warehouse in Pasir Gudang, Johor measuring 220,000 sq. ft. and to buy 101 new vehicles such as prime movers and trailers.

Ng said the new warehouse was expected to start operations in the third quarter of 2015 while the purchase of vehicles would be over the next 24 months.

“Xin Hwa would continue to capitalise on its strengths to generate sustainable revenue from its existing business,” he added.

Source: http://www.thestar.com.my/Business/Business-News/2015/06/11/Logistics-based-Xin-Hwa-to-raise-from-IPO/?style=biz

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