Latest news with #MalaccaSecurities
New Straits Times
a day ago
- Business
- New Straits Times
Oxford Innotech inks up IPO underwriting agreement with Malacca Securities
KUALA LUMPUR: Oxford Innotech Bhd has inked an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) en route to its listing on the ACE Market of Bursa Malaysia Securities Bhd. In a statement today, the integrated engineering solutions provider said the IPO consists of a public issue of 143.5 million new shares and the sale of 50 million existing shares. "Of the 143.5 million new shares, 35.5 million shares will be made available to the Malaysian public and 27 million shares to eligible directors, employees and persons who have contributed to the success of the group (pink form allocations). "The remaining 81 million new shares will be offered by way of private placement to selected bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI)," it said. Meanwhile, as for the 50 million existing shares under offer for sale, 7.8 million shares will be made available to selected bumiputera investors approved by MITI, with the remaining 42.2 million shares to be allocated to selected investors through private placement. Under the agreement, Malacca Securities will underwrite 62.5 million new shares, comprising 35.5 million new shares to the Malaysian public and 27 million new shares under the pink form allocations, it said. Oxford Innotech managing director Ng Thean Gin said the company is expanding both its production capacity and capabilities to cater to the rising demand for precision engineering solutions, especially in the semiconductor and modular building systems sectors. "Leveraging our extensive expertise and tailored engineering capabilities, we are able to deliver high-quality products and services that address the unique needs of our customers, enabling them to remain competitive and agile in a competitive market," he said. Citing independent market research by Providence Strategic Partners Sdn Bhd, the company said that Malaysia's engineering solutions industry is projected to grow to RM38.2 billion by 2027, from RM27.6 billion in 2023, supported by the rising adoption of electric vehicles and artificial intelligence, as well as a shift toward modular building systems. Oxford Innotech is scheduled to be listed on the ACE Market of Bursa Securities by the third quarter of 2025. Malacca Securities serves as the principal adviser, sponsor, underwriter and placement agent, while Wyncorp Advisory Sdn Bhd is the corporate finance adviser for the IPO exercise.
The Star
a day ago
- Business
- The Star
Oxford Innotech inks underwriting deal with Malacca Securities
From left: Oh Yen San, executive director of Oxford Innotech; Ng Thean Gin, managing director; Tan Kok Tiam, chairman, corporate finance committee of Malacca Securities; and Law Kim Fatt, co-head, corporate finance KUALA LUMPUR: As it prepares to float its shares on the ACE Market of Bursa Malaysia, Oxford Innotech Bhd (OXB) has entered into a deal with Malacca Securities Sdn Bhd to underwrite 6.25 million shares made available to the Malaysian public and to elible persons under the pink form allocations. The integrated engineering solutions provider is embarking on an initial public offering (IPO) exercise that entails a public issue of 143.5 million new ordinary shares, representing 20.2% of its enlarged issued share capital, as well as an offer for sale of 50 million existing shares, representing 7% of the enlarged share capital. Of the 143.5 million new shares, 35.5 million will be made available for application by the Malaysian public and 27 million shares by its eligible directors, employees and persons who have contributed to the success of the group. The remaining 81 million new shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti). As for the existing shares under offer for sale, 7.8 million shares will be made available by way of private placement to selected Bumiputera investors approved by Miti, with the remaining 42.2 million shares allocated to selected investors by way of private placement. 'We are expanding both our production capacity and capabilities to cater to the rising demand for precision engineering solutions, especially in the semiconductor and modular building systems sectors. "Leveraging our extensive expertise and tailored engineering capabilities, we are able to deliver high-quality products and services that address the unique needs of our customers, enabling them to remain competitive and agile in a competitive market,' said OXB managing director Ng Thean Gin in a statement. OXB is scheduled to be listed on the ACE Market by the third quarter of 2025. Malacca Securities serves as the principal adviser, sponsor, underwriter and placement agent, while WYNCORP Advisory Sdn Bhd is the corporate finance adviser for the IPO exercise.
Free Malaysia Today
26-05-2025
- Business
- Free Malaysia Today
Bursa opens higher but retreats on profit-taking
KUALA LUMPUR : Bursa Malaysia opened marginally higher but retreated thereafter, weighed down by mild profit-taking in selected heavyweights as Wall Street slipped following the latest US tariff threats against the European Union (EU), analysts said. At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 1.93 points or 0.12% to 1,533.45 from Friday's close of 1,535.38. The benchmark index opened 0.95 of-a-point higher at 1,536.33. Market breadth was negative with 227 decliners and 122 gainers, while 329 counters were unchanged, 1,752 untraded and 42 suspended. Turnover stood at 237.79 million shares valued at RM97.58 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said sentiment was once again unsettled by the ongoing 'de-escalation' and 're-escalation' of trade tensions, following the tariff threats against the EU, including a proposed 50% tariff on all imports from the EU, and 25% on i-Phones not made in the US. 'On the local market, we suspect that foreign funds may return as buyers after several days of selling. 'For today, we expect the index to trend cautiously within the 1,525-1,540 range,' he added. Meanwhile, Malacca Securities Sdn Bhd expects the local bourse to start the week positively following US President Donald Trump's extension of the EU tariff deadline, despite the weaker performance on Wall Street. 'Market attention will also be on the Asean Summit over the next two days,' it said in a note today. Among heavyweights, Maybank added one sen to RM9.89, CIMB climbed two sen to RM6.96. IHH Healthcare eased two sen to RM6.88, while Public Bank and Tenaga Nasional were flat at RM4.40 and RM14 respectively. For active stocks, Harvest Miracle and OCR Group were flat at 18 sen and 3.5 sen respectively, Eco-Shop slid one sen to RM1.19, Oppstar dropped seven sen to 44 sen, and Sarawak Cable eased half-a-sen to 1.5 sen. On the index board, the FBM Emas Index lost 20.13 points to 11,453.92, the FBMT 100 Index shaved 18.97 points to 11,214.13, and the FBM ACE Index went down 18.64 points to 4,597.30. The FBM Emas Shariah Index decreased 27.89 points to 11,398.32, and the FBM 70 Index gave up 46.85 points to 16,303.41. Across sectors, the Financial Services Index was 7.75 points better at 18,110.33, the Industrial Products and Services Index inched down 0.47 of-a-point to 153.57, the Energy Index was flat at 710.77, and the Plantation Index fell 15.53 points to 7,314.78.
The Star
15-05-2025
- Business
- The Star
FBM KLCI struggles for momentum amid cautious buying interest
KUALA LUMPUR: The FBM KLCI struggled to maintain its upward momentum due to weak buying interest, closing the morning session lower. At midday, the FBM KLCI slipped 8.57 points or 0.54% to 1,574.94, just marginally higher than its intramorning low of 1,574.13. Gainers numbered 396, trailing losers at 513, while 471 counters remained unchanged. Trading volume stood at 2.4 billion shares, valued at RM1.3bil. Nestle, the top decliner, fell 82 sen to RM83.98, followed by Kluang, which lost 40 sen to RM5.56. PETRONAS Dagangan eased 32 sen to RM20.22, while Tenaga declined 18 sen to RM14.12. Among the gainers, Malaysian Pacific Industries rose 42 sen to RM21.74, Heineken added 24 sen to RM27.74, Carlsberg gained 22 sen to RM19.38 and Chin Tek climbed 11 sen to RM8.30. TA Securities said the local market should stay in consolidation mode as investors will likely remain cautious ahead of the release of Malaysia's first-quarter GDP data later this week. 'Immediate resistance remains at 1,610, with the next major resistance seen at 1,644, followed by the August 2024 high of 1,684. Immediate support is maintained at 1,526, with 1,490 and 1,444 acting as stronger supports,' it added. Meanwhile, Malacca Securities remains optimistic about the outlook for blue-chip stocks, citing strong fundamentals and stable dividends as key drivers amid renewed foreign fund inflows into the Malaysian market. The research house said that despite global headwinds from US tariffs and geopolitical tensions, Bank Negara Malaysia's move to lower the Statutory Reserve Requirement (SRR) from 2% to a 14-year low of 1% may boost loan uptake among businesses and help stimulate economic growth. 'We maintain a positive outlook on the construction sector, driven by ongoing data centre investments and major developments across the country, such as the JSSEZ. The Construction Index has also broken above its MA200 resistance,' Malacca Securities said.
The Star
14-05-2025
- Business
- The Star
Profit-taking drags FBM KLCI into the red at midday
KUALA LUMPUR: The FBM KLCI turned lower at midday, reversing recent gains as profit-taking activity emerged following yesterday's strong run-up. At lunch break, the benchmark FBM KLCI fell 3.55 points, or 0.22%, to 1,578.84, rebounding from an intramorning low of 1,573.44. There were 489 gainers, 401 losers and 470 counters traded unchanged on the Bursa Malaysia. Turnover stood at 2.43 billion shares valued at RM1.42bil. The top loser on Bursa Malaysia was United Plantations, which lost 48 sen to RM22.50. Carlsberg fell 28 sen to RM19.20, Nestle eased 24 sen to RM84.76 and PETRONAS Dagangan declined 20 sen to RM20.28. Among the gainers, Malaysian Pacific Industries rose 34 sen to RM21.32, SAM Engineering added 32 sen to RM4.42, DKSH gained 27 sen to RM5.26 and Hengyuan climbed 26 sen to RM1.90. TA Securities said stocks are likely to extend gains as the improvement in US-China trade relations has abated concerns of a global trade war and is expected to support risk-on sentiment in the near term. 'Immediate support has been revised higher to 1,526, representing the 50% Fibonacci retracement (FR) of the rally from the 1,369 low (June 2023) to the 1,684 peak (August 2024), with stronger support seen at the 38.2% FR (1,490) and 23.6% FR (1,444). 'Immediate resistance is also revised upwards to the 76.4% FR (1,610) with tougher upside hurdles at 1,644 and the 29/08/24 high of 1,684,' TA said. Meanwhile, Malacca Securities expects further upside in Malaysia's technology sector, following the rally on Wall Street and renewed optimism after the US-China tariff truce. The research house said sentiment was also lifted by news that the Trump administration has formally rescinded the Biden-era AI Diffusion Rule, which supported gains in local tech counters. On the flip side, Malacca Securities said the US-China trade deal is seen as negative for Malaysian glove players, as it makes Chinese gloves more competitively priced and may hurt demand for Malaysian gloves. 'Besides, we believe trading opportunities will extend within the Steel sector like Hiap Teck, Hiap Teck and Malaysia Steel Works, as Malaysia is set to impose anti-dumping duties on steel and tinplate from China and other Asian nations,' it said.
