Latest news with #FrankWee
Borneo Post
11 hours ago
- Business
- Borneo Post
Sarawak's Insights Analytics inks underwriting deal ahead of ACE Market debut
Wee (second left) during the signing of the underwriting agreement. KUALA LUMPUR (August 19): Sarawak-based technology solutions provider Insights Analytics Berhad (IAB) has signed an underwriting agreement with M&A Securities Sdn Bhd ahead of its proposed listing on the ACE Market of Bursa Malaysia. The initial public offering (IPO) will comprise a public issue of 121 million new shares and an offer for sale of 27.5 million existing shares, representing 22 per cent and 5 per cent of IAB's enlarged share capital of 550 million shares respectively. Of the 121 million new shares, 27.5 million will be offered to the Malaysian public via balloting, 11 million to eligible directors, employees and contributors under the Pink Form Allocations, 41.25 million to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) and the remaining 41.25 million to selected investors through private placement. For the offer for sale, all 27.5 million existing shares will be placed out to Bumiputera investors approved by MITI. Under the agreement, M&A Securities will underwrite a total of 38.5 million new shares made available for application by the Malaysian public and Pink Form Allocations. IAB is principally involved in the supply of water technology solutions for water management across the water utility supply chain from water treatment to distribution, primarily in Sarawak. Its water technology customers include Jabatan Bekalan Air Luar Bandar Sarawak (JBALB), Sibu Water Board, Sarawak Water Sdn Bhd, formerly LAKU Management Sdn Bhd, and Kuching Water Board. As at Jan 1, 2025, its unbilled order book stood at RM36.1 million, which will be recognised progressively over the next two financial years based on project milestones, it said in a statement on Monday. Managing director Frank Wee said the IPO exercise would allow the company to raise funds for expansion, strengthen its technological capabilities and support working capital for ongoing and future projects. He said this would enable IAB to capture growth opportunities in smart water management and Sarawak's wider smart city development agenda. 'With 20 years of proven expertise in Sarawak's water technology sector, IAB is well-positioned to capitalise on the Sarawak government's Water Sector Transformation 2040 (WST2040) agenda and Malaysia's broader push towards smart city infrastructure. 'Leveraging its track record, the group delivers smart, data-driven solutions that align seamlessly with Sarawak's aggressive infrastructure upgrades, utility digitalisation and integrated smart water initiatives, placing IAB at the forefront of the state's transformation journey,' he said. The WST2040 roadmap emphasises the adoption of Industry 4.0 water technologies such as data analytics, artificial intelligence, Supervisory Control and Data Acquisition (SCADE) and Geographic Information System (GIS) to enable efficient operations, build long-term resilience in the water sector and support smart city developments. For the financial year ended April 30, 2024, IAB posted RM32 million revenue with a net profit of RM6.9 million, translating into a gross profit margin of 40 per cent and a net profit margin of 21.6 per cent. IAB is tentatively scheduled to debut on the ACE Market of Bursa Securities in October 2025. M&A Securities is the adviser, sponsor, underwriter and placement agent for the IPO. ace market Bursa Malaysia underwriting agreement
The Star
20 hours ago
- Business
- The Star
IAB signs underwriting deal for IPO
From left: Insights Analytics Bhd executive director Bong Joon Fook, Insights Analytics managing director Frank Wee, M & A Equity Holdings Bhd managing director Datuk Bill Tan and M & A Securities Sdn Bhd head of corporate finance Gary Ting. PETALING JAYA: Sarawak-based technology solutions provider, Insights Analytics Bhd (IAB), has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia. IAB is principally involved in the supply of water technology solutions for water management across the water utility supply chain from water treatment to distribution, primarily in Sarawak. In a statement, IAB said its initial public offering (IPO) entails a public issue of 121 million new shares and an offer for sale of 27.5 million existing shares, representing 22% and 5% respectively of IAB's enlarged share capital of 550 million shares upon listing. IAB is tentatively scheduled to list on the ACE Market of Bursa Malaysia in October 2025. M&A Securities is its adviser, sponsor and underwriter. Trading ideas: Genting Plantaitons, UMediC, NUEnergy, FGV, Agmo, EPB, Asian Pac, Southern Score, AMMB, CelcomDigi, 99 Speed Mart, Ranhill, LPI, MGB
New Straits Times
a day ago
- Business
- New Straits Times
Insights Analytics inks IPO underwriting deal with M&A Securities
KUALA LUMPUR: Insights Analytics Bhd (IAB) today signed an underwriting agreement with M & A Securities Sdn Bhd for its proposed listing on the ACE Market of Bursa Malaysia Securities Bhd. The Sarawak-based technology solutions provider said the initial public offering (IPO) involves a public issue of 121 million new shares and an offer for sale of 27.5 million existing shares, representing 22.0 per cent and 5.0 per cent respectively of IAB's enlarged share capital of 550 million shares upon listing. Of the 121 million new shares, 27.5 million will be made available to the Malaysian public. This includes 11 million shares allocated to eligible directors, employees of IAB and contributors to the group's success under the pink form scheme. A further 41.25 million shares are reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). The remaining 41.25 million shares will be placed out to selected investors via private placement. For the offer for sale, all 27.5 million shares will be placed with Bumiputera investors approved by MITI. IAB said that under the underwriting agreement, M & A Securities will underwrite a total of 38.5 million new shares allocated to the Malaysian public and under the pink form scheme. Insights Analytics Bhd managing director Frank Wee said the IPO will enable the company to tap the equity capital market to fund business expansion, strengthen its technological capabilities, and support working capital for ongoing and future projects, while capitalising on growth opportunities in smart water management and Sarawak's broader smart city development initiatives. "With 20 years of proven expertise in Sarawak's water technology sector, IAB is well-positioned to leverage the Sarawak government's Water Sector Transformation 2040 (WST 2040) agenda and Malaysia's broader push towards smart city infrastructure," he said. IAB is principally involved in providing water technology solutions across the water utility supply chain, from treatment to distribution, primarily in Sarawak. The company is tentatively scheduled to list on the ACE Market of Bursa Securities in October 2025.
The Star
a day ago
- Business
- The Star
IAB signs underwriting deal with M&A Securities for ACE Market listing
From left: Insights Analytics Bhd executive director Bong Joon Fook, Insights Analytics managing director Frank Wee, M & A Equity Holdings Bhd managing director Datuk Bill Tan and M & A Securities Sdn Bhd head of corporate finance Gary Ting. KUALA LUMPUR: Sarawak-based technology solutions provider, Insights Analytics Bhd (IAB), has signed an underwriting agreement with M & A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd. IAB is principally involved in the supply of water technology solutions for water management across the water utility supply chain from water treatment to distribution, primarily in Sarawak. In a statement, IAB said its initial public offering (IPO) entails a public issue of 121.0 million new shares and an offer for sale of 27.5 million existing shares, representing 22.0% and 5.0% respectively of IAB's enlarged share capital of 550.0 million shares upon listing. Of the 121.0 million new shares, 27.5 million will be offered to the Malaysian public via balloting. Another 11.0 million will be allocated to eligible directors, employees and contributors under the Pink Form Allocations, while 41.25 million is reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). The remaining 41.25 million new shares will be placed out to selected investors by way of private placement. For the offer for sale, all 27.5 million shares are reserved for private placement to Bumiputera investors approved by the MITI. Pursuant to the underwriting agreement, M & A Securities will underwrite 38.5 million new shares offered to the Malaysian public and under the Pink Form Allocations. As at Jan 1, 2025, IAB's unbilled order book stood at RM36.1mil, which will be progressively recognised over the next two financial years in line with the expected progress of each project. IAB managing director Frank Wee said the IPO will allow the company to tap the equity capital market to fund business expansion, enhance technological capabilities, and support working capital for ongoing and future projects, while capitalising on growth opportunities in smart water management and Sarawak's broader smart city initiatives. 'With 20 years of proven expertise in Sarawak's water technology sector, IAB Group is well-positioned to capitalise on the Sarawak government's Water Sector Transformation 2040 agenda and Malaysia's broader push towards smart city infrastructure. 'Leveraging its track record, the group delivers smart, data-driven solutions that align seamlessly with Sarawak's aggressive infrastructure upgrades, utility digitalisation and integrated smart water initiatives - placing IAB at the forefront of the state's transformation journey,' Wee said. For the financial year ended April 30, 2024, IAB reported a net profit of RM6.9mil on the back of RM32mil revenue, with a gross profit margin of 40.0% and a net profit margin of 21.6%. IAB is tentatively scheduled to list on the ACE Market of Bursa Securities in October 2025. M & A Securities is the adviser, sponsor, underwriter and placement agent for the IPO exercise.
