Oxford Innotech gets Bursa nod to list on ACE Market
KUALA LUMPUR: Oxford Innotech Bhd (OXB), an integrated engineering solutions provider, has received approval from Bursa Malaysia Securities Bhd to list on the ACE Market.
OXB, through its subsidiaries, is a Penang-based integrated engineering solutions provider specialising in precision engineering components, mechanical assembly, and automation and robotic solutions.
'We are grateful to Bursa Securities for granting us the approval to list on the ACE Market. This reflects a shared confidence in our Group's capabilities and the strategic value we bring to the engineering ecosystem as well as the broader equity market,' managing director Ng Thean Gin said in a statement.
'It is exciting times ahead for OXB where we see great growth opportunities, particularly in the semiconductor and modular building systems sectors.
'We are thrilled to embark on the new chapter in our corporate journey as we continue pushing the boundaries of innovation and efficiency, while at the same time, helping customers streamline operations, reduce costs, and enhance productivity,' he added.
OXB's initial public offering (IPO) comprises a public issue of 143.46 million new shares and an offer for sale of 50 million existing shares, representing a combined 27.3% of its enlarged share capital of 710 million shares upon listing.
The group aims to be listed by the third quarter of 2025.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent, while WYNCORP Advisory Sdn Bhd is the corporate finance adviser for the IPO exercise.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
7 hours ago
- Free Malaysia Today
We postponed e-invoice system to support businesses, says Hui Ying
Deputy finance minister Lim Hui Ying said the government had initially planned to implement the e-invoice system from July 1 this year for companies with annual sales of RM500,000 and above. (Bernama pic) PETALING JAYA : The government has postponed the implementation of the e-invoice system after considering the concerns of business owners, particularly the micro, small and medium-sized enterprises (MSMEs), says deputy finance minister Lim Hui Ying. She said the government hopes that companies will have more time to adapt to the e-invoice system developed by the Inland Revenue Board (LHDN) with this postponement, Bernama reported. On June 5, LHDN said in a statement that taxpayers with income or annual sales below RM500,000 would be exempted from the e-invoice system for now. For those earning between RM1 million and RM5 million, it was postponed to Jan 1, 2026. Those with income of up to RM1 million will begin using the system from July 1, 2026. 'What we initially planned (was to implement the system) effective July 1 this year for companies with annual sales of RM500,000 and above. 'However, we understand their concerns, especially MSMEs, and have revised the plan for it to be implemented under three additional phases. 'The Madani government has taken note of the concerns of the business community,' she told reporters after launching the Lebuh Cecil Public Market's smart toilets in George Town, Penang, today. She also said the third phase of the e-invoice implementation, beginning July 1 this year, will involve taxpayers with income or annual sales exceeding RM5 million and up to RM25 million. On the stamping of employment contracts, starting Jan 1, 2026, Lim said LHDN had not enforced this requirement previously. 'Therefore, LHDN and the finance ministry have considered this and decided that employment contracts before Jan 1, 2025 will be exempted. (For) contracts starting on Jan 1, 2026, stamp duty will be required,' she said. She hopes that companies will comply with all the provisions under the Stamp Act 1949, particularly those related to stamping requirements.
Malay Mail
9 hours ago
- Malay Mail
‘I'm not in business; I'm in politics': Lim Guan Eng says scammers fake voice, image in AI-generated deepfake investment video
KUALA LUMPUR, June 8 — Former finance minister Lim Guan Eng has alerted the public to a fake video circulating online that uses artificial intelligence to mimic his voice and image in what appears to be an investment scam. According to Free Malaysia Today, Lim said the manipulated video falsely shows him endorsing an investment scheme and appears to be based on an old interview recorded in English more than a decade ago. 'I want to be absolutely clear, I have never asked anyone to invest in anything. I'm not in business; I'm in politics,' he said during an event in Air Putih, Penang today. 'They took an old clip, altered it to look new, and changed the language.' Lim pointed out that the fake version is in Mandarin, while the original was in English, and highlighted that the other speaker, Penang Institute executive director Ooi Kee Beng, does not speak Mandarin. 'That alone is a red flag,' he said. He said the video was created using AI and reported the matter to the Malaysian Communications and Multimedia Commission. He urged the public to be cautious about unsolicited investment videos and messages circulating on platforms such as WhatsApp. 'The early attempts were clearly fake, but this one is more convincing. It's dangerous, especially for the elderly or those who trust me as a public figure,' he said. Lim added that scammers have used his likeness in at least five digitally altered videos so far. 'They exploit public trust. That's why I need to speak up, to stop people from falling for these scams,' he said. 'Always verify with official sources. Refer to my verified statements. I will never ask anyone to invest in anything.'
Malay Mail
11 hours ago
- Malay Mail
Penang to reassess Indian Muslim housing discount, considers extending offer to all buyers, says CM
GEORGE TOWN, June 8 — The Penang state executive council (MMK) will review the five per cent discount offer for first-time homebuyers from the Indian Muslim community in Penang and make an appropriate decision for the benefit of all parties. Chief Minister Chow Kon Yeow said he has directed State Housing and Environment Committee chairman, Datuk Seri S. Sundarajoo, to refine the policy with developers to extend the discount to all buyers. He said this is to ensure the policy is more inclusive and benefits all segments of society, in line with the principles of social justice. 'The state government has received various feedback regarding the announcement of the intervention measure to provide a five per cent discount to the Indian Muslim community for the purchase of unsold (overhang) property units, as announced by the State Housing and Environment Committee chairman on June 5. 'Some of the feedback and views received suggest that the discount should also be offered to all buyers to stimulate the property sector, particularly the sale of unsold properties or units,' he said in a statement today. On Thursday, Sundarajoo announced a five per cent discount for the Indian Muslim community for the purchase of residential and commercial units under the Madani Inclusive Property Sector Catalyst Policy (MOC). This is among several incentives in the policy, effective from June 1, 2025 to May 31, 2026, in addition to introducing a special category, Rumah MutiaraKu (RMKu) Type D, with a maximum ceiling price of RM400,000, and a reduction in contribution rates for developers who do not physically provide RMKu Type A or B units. The policy is an intervention measure to revitalise the property sector, following discussions and agreement with housing industry stakeholders, taking into account the increasingly concerning oversupply of non-affordable units in Penang. According to the Penang Property Market Report for the Fourth Quarter of 2024, issued by the National Property Information Centre (NAPIC), a total of 2,796 residential units have been identified as unsold, involving various types of residential properties across the state. — Bernama
