Latest news with #WongVoonTen
The Sun
26-06-2025
- Business
- The Sun
Pan Merchant sees opportunities in wastewater treatment, sustainable fuel sectors
PETALING JAYA: ACE Market newcomer Pan Merchant Bhd, a provider of solid-liquid filtration solutions, is prioritising emerging industries such as wastewater treatment and sustainable fuel to drive business growth and expand untapped markets. Managing director Wong Voon Ten said the company sees rising demand for sustainable fuel solutions from major energy players, driven by the global push towards decarbonisation and cleaner energy sources. 'In Malaysia and across the Asia-Pacific region, we also see significant opportunities in water treatment projects, especially as governments and water service providers continue to increase capital expenditure to upgrade water infrastructure. 'On top of that, we are actively tendering for projects to sustain our earnings growth. 'Currently, our tender book has grown to a substantial level, with more than half derived from the potable water and wastewater treatment industry, while the remainder comprises projects from edible oil, sustainable fuel, and other industries,' he said at the company's listing ceremony on Bursa Malaysia in Kuala Lumpur today. Wong said the company remains committed to its core strength in the edible oil industry. 'As a trusted and irreplaceable partner to our end-users, we are recognised for our consistent quality and reliability, and we will continue to play a vital role in supporting refineries and processing operations. We are also focused on expanding our presence in strategic regions where edible oil production is critical,' he added. Wong emphasised the significant potential and growing demand for solid-liquid filtration solutions in the water treatment and sustainable fuel industries, expressing confidence in the group's ability to secure projects in such industries, backed by its 38-year track record of product quality and reliability. As of April 30, the group's potential project pipeline spans key industries, with the largest portion coming from the potable water and wastewater treatment segment, followed by projects in edible oil, sustainable fuel, mining, food processing, and other industrial segments. Pan Merchant's share price opened at 23.5 sen compared to the initial price offering (IPO) price of 27 sen per share. It closed at 23 sen, 4 sen or 14.8% below the IPO price, on 5.576 million shares traded. The company's IPO entailed a public issue of 232.2 million new shares and an 18 million offer-for-sale shares, at an issue price of 27 sen per share, representing 27.3% of the enlarged share capital. The overall value of the IPO is RM67.6 million, with Pan Merchant receiving RM62.7 million and the offeror receiving the remaining RM4.9 million. Out of the total proceeds of RM62.7 million, RM28 million will be used for capital expenditure on manufacturing plants, including the acquisition of machinery, equipment, and tools, as well as the renovation of its manufacturing facilities. A further RM7 million will be allocated for product development, and the remaining RM27.7 million for business expansion, working capital, and defraying of listing expenses. Pan Merchant plans to use part of its IPO proceeds to acquire advanced computer numerical control and robotic welding machines, which are expected to enhance production efficiency, to meet the growing demand for filtration equipment and replacement parts both locally and internationally. As of May 6, the group's order book stood at RM69.6 million, comprising orders for filtration equipment, replacement parts, and steel works. The order book is expected to be fulfilled within the next 12 months. Affin Hwang Investment Bank Bhd serves as the principal adviser, sponsor, sole placement agent, and sole underwriter for Pan Merchant's IPO exercise.
BusinessToday
26-06-2025
- Business
- BusinessToday
Pan Merchant Proceeds For Listing Despite Low Subscription Levels
Pan Merchant Berhad said it will proceed with its initial public offering and ACE Market debut on 26 June 2025, following cautious market reception and moderate subscription levels. Having been in operation for 38 years and undeterred by current market sentiment, the Group added that it remains steadfast in executing its long-term growth strategy, which includes expanding manufacturing capabilities, increasing automation and strengthening its presence globally. The Group received a total of 1,107 applications for 16.9 million shares, with a total value of RM4.6 million, versus the 45.8 million shares that were made available for application by the Malaysian public. The unsubscribed portion of 28.9 million shares will be fully underwritten by Affin Hwang Investment Bank Berhad. Meanwhile, the placement portion of the IPO's public issue shares has been fully taken up. This includes 57.3 million new ordinary shares allocated to selected investors and 114.5 million new ordinary shares allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), following the application of clawback and reallocation provisions. Mr. Wong Voon Ten, Managing Director of Pan Merchant Berhad said: 'It is unfortunate that our IPO journey coincided with a period of heightened market uncertainty due to geopolitical tensions, which led to softer interest as investors adopted a more cautious stance. That said, we remain optimistic about our outlook and are confident in our long-term growth prospects. We have been in operation for about 38 years navigating ups and downs in the economy. Despite the challenging equity market conditions, we are fully committed to executing our strategy to elevate the company to new heights. The Group intends to adopt a dividend policy, aiming to distribute at least 30.0% of the annual audited profit after tax attributable to shareholders to participate in the group's growth. Related
The Sun
06-06-2025
- Business
- The Sun
Pan Merchant aims to raise RM67.6m from IPO for international expansion
KUALA LUMPUR: Solid-liquid filtration solutions provider Pan Merchant Bhd seeks to raise RM67.6 million from its initial public offering (IPO) for its listing on the ACE Market of Bursa Malaysia for international expansion. Of the total proceeds, the company will allocate RM62.7 million for capital expansion, of which RM28 million will be used to expand its manufacturing plants, including the acquisition of machinery, equipment and tools, as well as renovations to its manufacturing facilities. A further RM7 million will be allocated for product development and the remaining RM27.7 million for business expansion, general working capital and defraying listing expenses. The goal of the IPO is to grow the group's global market share to 2%-3% through further global expansion, particularly in Europe and America. Managing director Wong Voon Ten said the company aims to stay ahead in the industry by emphasising research and development, sharpening the performance of products, experimenting with new materials and technology, and staying agile in addressing the evolving demands of international clientele. 'In tandem with this, we are ramping up our manufacturing capabilities. From investing in the latest machinery and expanding automation to introducing new production lines, these improvements are designed to boost consistency, precision, and production scalability in line with our global growth ambitions,' he said at the launch of the IPO prospectus today. Wong said the US and European markets represent high potential opportunities for premium solid-liquid filtration systems. 'We are confident our offerings are well-aligned with the expectations and standards of these discerning markets.' The IPO involves a total of 250.2 million ordinary shares in Pan Merchant, which includes 232.2 million new shares and 18. million offer-for-sale shares. The total number of shares represents 27.3% of the enlarged share capital. The group aims to distribute at least 30% of its annual audited net profit after tax to reward its shareholders. Pan Merchant is scheduled to list on the ACE Market on June 26. Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the group's IPO.
The Star
06-06-2025
- Business
- The Star
Pan Merchant aims to raise RM67.6mil from IPO
KUALA LUMPUR: Solid-liquid filtration solutions provider Pan Merchant Bhd aims to raise RM67.6 million from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia. The company, which is scheduled for the listing on June 26, 2025, is making a public issue of 232.2 million new shares, priced at 27 sen apiece. Managing director Wong Voon Ten said that through this IPO, the group aims to stay ahead in the industry, placing strong emphasis on research and development, sharpening products performance and experimenting with new materials and technologies. He said the group is also pushing ahead with its international expansion strategy, with particular focus on the United State (US) and European markets which represent high-potential opportunities for premium solid-liquid filtration systems. "We are committed to expanding our international footprint and sharpening our competitive edge as we work towards growing our global market share to 2.0 per cent - 3.0 per cent in the future from 0.5 per cent,' he said during the launch of Pan Merchant's prospectus here today. Wong said Pan Merchant is ramping up its manufacturing capabilities by investing in the latest machinery and expanding automation. The company has earmarked 40 per cent for its capital expenditure out of the RM67.6 million listing proceeds. "The proceeds are going to be mainly in purchasing of capital and investment into machinery for more automation in our production processes and including bringing higher efficiencies in the production process itself with robotics and automation in Computer Numerical Control (CNC) machining centres and so on," Wong said.. From RM67.6 million IPO proceeds, RM62.7 million will be accrued to Pan Merchant, while the balance of RM4.9 million will be for the offerer. Of the total proceeds of RM62.7 million raised, RM28 million would be allocated to capital expenditure for manufacturing plants, including the acquisition of machinery, equipment and tools, as well as renovations to its manufacturing facilities, the company said. A further RM7 million will be allocated for product development and RM27.7 million for business expansion, general working capital and defraying of listing expenses. Established for 38 years, the company is also expanding its business into water, mineral processing and mining industries and renewable energies from the hydrotreated vegetable oil industry. It also aims to distribute at least 30 per cent of its net profit to reward shareholders. Affin Hwang Investment Bank is the principal adviser, sponsor, sole placement agent and sole underwriter for Pan Merchant's IPO exercise. - Bernama
Barnama
06-06-2025
- Business
- Barnama
Pan Merchant Aims To Raise RM67.6 Mln From IPO
REGION - CENTRAL > NEWS KUALA LUMPUR, June 6 (Bernama) -- Solid-liquid filtration solutions provider Pan Merchant Bhd aims to raise RM67.6 million from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia. The company, which is scheduled for the listing on June 26, 2025, is making a public issue of 232.2 million new shares, priced at 27 sen apiece. bootstrap slideshow Managing director Wong Voon Ten said that through this IPO, the group aims to stay ahead in the industry, placing strong emphasis on research and development, sharpening products performance and experimenting with new materials and technologies. He said the group is also pushing ahead with its international expansion strategy, with particular focus on the United State (US) and European markets which represent high-potential opportunities for premium solid-liquid filtration systems. 'We are committed to expanding our international footprint and sharpening our competitive edge as we work towards growing our global market share to 2.0 per cent - 3.0 per cent in the future from 0.5 per cent,' he said during the launch of Pan Merchant's prospectus here today. Wong said Pan Merchant is ramping up its manufacturing capabilities by investing in the latest machinery and expanding automation. The company has earmarked 40 per cent for its capital expenditure out of the RM67.6 million listing proceeds. 'The proceeds are going to be mainly in purchasing of capital and investment into machinery for more automation in our production processes and including bringing higher efficiencies in the production process itself with robotics and automation in Computer Numerical Control (CNC) machining centres and so on," Wong said..
