Latest news with #ACEMarket
The Sun
a day ago
- Business
- The Sun
Express Powerr inks underwriting agreement with Mercury Securities for ACE Market IPO
KUALA LUMPUR: Generator rental services provider, Express Powerr Solutions (M) Bhd signed an underwriting agreement with Mercury Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia. Express Powerr managing director Lim Cheng Ten said the company is entering a new phase of growth, and this underwriting agreement marks a significant step towards its listing on the ACE Market of Bursa Malaysia. 'This move will accelerate our expansion into new end-user markets, including the oil and gas industry, and broaden our geographical coverage. 'With this in mind, we see great potential in the oil and gas sector. The industry typically operates in remote and challenging environments, where generators are required as temporary power solutions during exploration, drilling and production operations,' he said in a statement. He said in the first nine months of 2024 alone, 27 oil and gas projects worth RM4.46 billion were approved, presenting strong prospects for the industry. In the utility sector, Tenaga Nasional Bhd (TNB) has invested RM21 billion in its Grid of the Future programme to enhance its transmission and distribution network. As generator sets are widely used in the engineering, procurement, and construction of power grids as well as other generation and transmission projects, these developments reinforce the continued relevance of the generator rental business, Lim said. Express Power provides generator rental services, which are utilised in critical emergencies such as power outages and planned maintenance, and serve as standby power for events and special occasions, providing a reliable power source when needed most. The group also supplies ancillary items, including distribution boards, generator synchronisation panels, transformers, switchgears, load banks, and cables, to meet the varied requirements of its customers. With a 20-year track record, the group owns a fleet of 111 generator units, ranging in capacity from low- to high-voltage systems. Over 70% of the fleet consists of mobile generator units mounted on trucks, designed for easy transportation and deployment to various locations. The remaining units are canopy generators, which are commonly used in outdoor settings or areas where noise reduction is important. Routine maintenance is performed in-house, with generators inspected and maintained every 300 operational hours to ensure reliability and minimise downtime. In addition to its core business, the group is also registered as a solar photovoltaics (PV) investor under the Net Energy Metering (NEM) programme and a PV service provider by Sustainable Energy Development Authority Malaysia (SEDA). This enables the group to install rooftop solar PV systems for both residential and commercial properties. Though still in its early stages, this expansion aligns with Malaysia's net-zero emission target by 2050 and supports the growing demand for sustainable energy solutions. As a testament to its growing reputation for delivering quality generator rental services, Express Powerr became an approved vendor of TNB in 2021 and subsequently secured service contracts with TNB in 2022 after having supplied generators indirectly to TNB since 2005. The group has also expanded its geographical footprint to Sabah last year, providing services indirectly to Sabah Electricity Sdn Bhd (SESB). Beyond electric utility companies, Express Powerr serves a diverse range of end-user industries, including mechanical and electrical, manufacturing, construction, and event industries, as well as government agencies. The IPO exercise comprises a public issue of 180.0 million new ordinary shares, representing approximately 19.3% of the company's enlarged issued share capital, and an offer for sale of 65.4 million existing shares, equivalent to 7.0% of the enlarged share capital. Of the 180.0 million new shares, 46.7 million will be offered to the Malaysian public via balloting, 18.7 million allocated to eligible directors, employees, and contributors to the group's success, 63.2 million placed privately with selected investors, and 51.4 million placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti). The 65.4 million existing shares under the offer for sale will also be allocated to Bumiputera investors approved by the Ministry of International Trade and Industry (Miti). Under the underwriting agreement, Mercury Securities has agreed to underwrite a total of 65.4 million Issue Shares made available to the Malaysian public and Pink Form Allocations. Express Powerr is scheduled to be listed on the ACE Market of Bursa Malaysia by the third quarter of 2025. Mercury Securities serves as the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise.
The Star
3 days ago
- Business
- The Star
Topmix targets sustained growth
A LITTLE over a year after its listing on the ACE Market, Topmix Bhd appears confident in sustaining its growth trajectory. The decorative surface designer with a market capitalisation of RM151.6mil aims for double-digit growth in its financial year ending Dec 31, 2025 (FY25) on projected strong demand for its products and services at home. Cancel anytime. Ad-free. Full access to Web and App. RM 13.90/month RM 9.73 /month Billed as RM 9.73 for the 1st month, RM 13.90 thereafter. RM 12.39/month RM 8.63 /month Billed as RM 103.60 for the 1st year, RM 148 thereafter.
The Sun
5 days ago
- Business
- The Sun
Enproserve makes ACE Market debut, steps up diversification to secure recurring income
KUALA LUMPUR: Enproserve Group Bhd, a provider of plant maintenance and engineering services, is charting a strategic expansion into the heavy lifting and equipment rental segment – a move the company views as a scalable, recurring income stream beyond its traditional contract-based operations. While the group remains firmly anchored in its core offerings – plant maintenance and turnaround and engineering, procurement, construction and commissioning – it is now broadening its portfolio to include rental services for cranes, skylifts and small lorries. This diversification gained momentum following the recent signing of a master service agreement with Petroliam Nasional Bhd (Petronas), covering multiple subsidiaries including Petronas Chemicals Group Bhd, Petronas Gas Bhd and Petronas Chemicals Fertiliser Kedah Sdn Bhd. 'This is an asset-heavy segment, but it's one we are confident in,' Enproserve CEO Mohamad Nizam Yaakub said at a press conference following the company's listing on Bursa Malaysia's ACE Market today. 'The rental business provides recurring income, and we're targeting strong demand across Peninsular Malaysia.' Enproserve currently holds 33 long-term contracts, primarily with Petronas and its subsidiaries, extending through 2029. Its exclusive focus on downstream operations provides a degree of insulation from the volatility of crude oil prices. 'Plant maintenance will never stop. These are statutory requirements,' said group managing director Azman Yusof. 'Unlike upstream operations, which may scale down during periods of low oil prices, downstream plants must remain operational – and that means ongoing maintenance is non-negotiable.' This resilience has enabled Enproserve to become one of the few 'pure-play' downstream service providers listed on the local bourse. This niche positioning analysts believe could attract institutional investor interest in the near future. The group's current operations span Johor, Malacca, Terengganu and its Cyberjaya headquarters. While East Malaysia is not on its immediate roadmap, Azman said, the company remains open to expansion should the right partner or opportunity arise. 'Right now, we're staying focused on the 2027 Pengerang Integrated Complex (PIC) turnaround. It requires over a year of preparation, and we don't want to stretch ourselves too thin,' he explained. Enproserve opened at 26 sen in its market debut today, two sen above the initial public offering (IPO) price of 24 sen, with 5.31 million shares traded at the opening bell. It closed at 26.5 sen, 2.5 sen or 10.4% above the IPO price, on volume of 75.849 million shares. The IPO raised RM50.4 million, with RM23.7 million earmarked for capital expenditure, including the purchase of cranes, forklifts, and other heavy machinery. These assets will support internal operations and be made available for rental. 'We didn't expect the price to rise this morning given current market sentiment, but it shows that investors are confident in our direction,' said Azman. 'We feel relieved and optimistic.' While the group does not yet have a formal dividend policy, Azman confirmed that one would be introduced 'eventually', particularly as the company eyes a future transfer to the Main Market. Meanwhile, Enproserve is positioning itself as a key player in Malaysia's largest-ever plant turnaround project – the PIC in Johor. The complex is described by Azman as 'the biggest in Southeast Asia', and the scale of the 2027 turnaround is expected to contribute significantly to the group's revenue. Though exact figures are subject to unit-rate contracts, Azman described the opportunity as 'much larger than what we are currently securing', and one that necessitates a full year of integrated planning. 'We're already mobilising internal resources and preparing our teams to ensure a seamless execution,' he said. 'This is not just another job – it is the largest plant turnaround in Malaysia.' With more than two decades of experience, Enproserve is licensed by Petronas through Standardised Work and Equipment Categories codes, and is registered as a Grade G7 contractor with the Construction Industry Development Board, enabling it to undertake projects of unlimited value. As Malaysia's oil and gas and petrochemical sectors prepare for cyclical maintenance and capacity expansion, Enproserve's combination of niche expertise, deep client relationships, and fresh capital from its IPO places it in a strong position to ride the sector's growth wave. 'We believe in organic growth. And right now, the growth ahead of us is both significant and achievable,' Azman said.
Barnama
6 days ago
- Business
- Barnama
Enproserve Set To Focus On Pic Turnaround Project, Crane Segment Post-ipo
REGION - CENTRAL > NEWS KUALA LUMPUR, July 18 (Bernama) -- Enproserve Group Bhd is concentrating on two main areas following its initial public offering (IPO) listing today, mainly preparing for the 2027 plant turnaround project at the Pengerang Integrated Complex (PIC) in Johor and expanding into the crane and heavy lifting segment. Group managing director Azman Yusof said that integrated planning for the turnaround is already underway, with dedicated teams focusing on equipment readiness and coordination to ensure smooth execution. 'The size of the plant itself -- the biggest complex in Southeast Asia -- shows how significant the revenue will be from the maintenance and turnaround exercise. It will be more than what we are getting right now,' he told reporters during the group's listing press conference today. bootstrap slideshow He said Enproserve's current contracts in plant maintenance and turnaround are expected to sustain the company over the next two years, while the PIC job, backed by a 10-year contract, would drive additional revenue in the medium term. 'Our contracts work on a unit rate basis, and we will be quoting to the client accordingly. But what I can say now is that it is going to be much more than what we currently have,' he said. As for the IPO proceeds, Azman said most of the funds raised will be channelled into building up the group's crane and heavy lifting services. 'In fact, most of the IPO proceeds will go to this business. We have secured a master service agreement to supply cranes, skylifts, and forklift lorries to Petronas Chemical Group, Petronas Gas, and Petronas Fertiliser,' he said. He added that, while there are currently no immediate plans to venture into East Malaysia, the group remains open to the possibility if the right strategic partner were to come along. At the opening bell today, Enproserve debuted on Bursa Malaysia's ACE Market at 26 sen, up two sen from its IPO price of 24 sen, with 5.31 million shares traded.
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New Straits Times
6 days ago
- Business
- New Straits Times
MARKET PULSE AM JULY 18, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Enproserve Group made its debut on the ACE Market at 26 sen, reflecting an 8.3 per cent premium over its IPO price of 24 sen. In early trading, the counter saw 33.6 million shares changing hands. Bursa Malaysia opened on a positive note, taking its cue from Wall Street's upbeat performance overnight. The benchmark index is anticipated to trade within the range of 1,515 to 1,525 points. In the cryptocurrency market, Bitcoin is trading below the RM500,000 mark at approximately RM494,326, while Ethereum is hovering around RM14,680. That's it for Market Pulse. ZR58tCx6pYw
