Latest news with #RM21.1
New Straits Times
3 days ago
- Business
- New Straits Times
Enproserve launches IPO at 24 sen a share to raise RM50.4mil
KUALA LUMPUR: Enproserve Group Bhd has launched its initial public offering (IPO) at 24 sen per share, aiming to raise RM50.4 million to boost its capacity in mechanical and civil engineering services for the oil and gas, and petrochemical industries. The company's IPO, which opened for applications today and closes on July 8, involves the issuance of 315 million shares, representing 30 per cent of its enlarged share capital of 1.05 billion shares. Of the RM50.4 million proceeds raised from the new share issuance, Enproserve plans to allocate RM33.7 million or 66.9 per cent for capital and operational expenditure, including the purchase of heavy-lifting equipment, facility upgrades and expansion of its plant maintenance and turnaround services. Group managing director Azman Yusof said the listing marks a pivotal step in the group's next growth phase, especially as it prepares to meet surging demand under long-term contracts with industry giants like Petronas and PRefChem. "We are gearing up for Malaysia's largest-ever plant turnaround exercise at a petrochemical facility in Johor. This IPO allows us to invest in equipment and improve internal capabilities to support large-scale projects," he said in a statement. Azman added that the group is also constructing a new crane depot and expanding its asset rental operations to create a steady secondary revenue stream and improve operational efficiency. Enproserve recorded its best-ever financial performance in FY2024, with revenue rising 21 per cent year-on-year to RM198.4 million and net profit surging 71 per cent to RM21.1 million. Of the 210 million new shares, 139.18 million will be placed out to selected investors, 52.5 million will be offered to the Malaysian public via balloting, and 18.32 million reserved for eligible directors, staff and contributors. The 105 million offer-for-sale shares will be allocated via private placement. KAF Investment Bank is the principal adviser, sponsor, sole placement agent, and underwriter for the IPO. Enproserve is scheduled to list on the ACE Market of Bursa Malaysia on July 18. Founded in 2001, Enproserve is a long-standing engineering service provider to Petronas and PRefChem, with operations spanning Johor, Melaka, Terengganu, and Putrajaya.
Barnama
27-05-2025
- Climate
- Barnama
Sarawak Prepared For North-East Monsoon With 661 Relief Centres, One-Off Aid Packages
KUCHING, May 27 (Bernama) -- The Sarawak Social Welfare Department (JKMS) has prepared for the North-East Monsoon (November-to-March) by identifying a total of 661 relief centres throughout the state. Sarawak Women, Children and Community Wellbeing Minister Datuk Seri Fatimah Abdullah said disaster relief stocks had also been prepared at several strategic locations including the Samarahan Disaster Storage Depot, mini depots in Miri and Lawas, as well as at 16 disaster stores at divisional and district welfare offices, in addition to 31 disaster response bases in Sarawak. She said the Sarawak government had also approved the new rate of Disaster Reliefw to be given to victims of floods, landslides, fires and storms starting this year. 'The assistance includes a one-off initial food supply of RM75 per pack for households consisting of one to five people. 'A one-off immediate assistance is also provided, comprising pocket money of RM200 per person, daily-wear apparel of RM300 per person, dry food of RM100 per person and sleeping essentials of RM200 per person,' she said during the winding-up for her ministry at the State Assembly session here today. Fatimah said a one-off school aid would cover uniforms and shoes worth RM300 per person, as well as school equipment such as bags and stationery of RM200 per person. 'One-off kitchen appliances aid is RM1,000 per house, shelter aid for construction of temporary housing or rental ranging from RM1,000.00 to RM10,000.00 per household. 'Daily food assistance at the relief centres will be provided at a cost of RM50 per person per day and for victims who are stranded, dry food supply is RM100 per pack per person for a week," she said. She added that from January to April 30 this year, JKMS has distributed assistance totaling RM21.1 million to 168,574 disaster victims throughout the state.
