Latest news with #WestRiver
CTV News
06-05-2025
- General
- CTV News
Millions of trout piped into Alberta ponds and lakes for fishing season
Cultured trout are released into a pond in West River's Edge Pond in Fort Saskatchewan on May 6, 2025. (Evan Klippenstein/CTV News Edmonton)
BusinessToday
06-05-2025
- Business
- BusinessToday
Bursa Opens Higher As FBMKLCI Rises 4.26 Points To 1,546.75
Bursa Malaysia opened on a positive note Monday, with key indices trending higher amid upbeat market sentiment and broad-based buying interest across sectors. The FBM KLCI gained 4.26 points or 0.28% to reach 1,546.75 at 9:08 am, lifted by gains in selected heavyweights. The benchmark index traded between 1,541.78 and 1,546.75 in the early session. Broader market performance was also positive: The FBM 70 rose 97.33 points to 16,371.87 (+0.60%), rose to (+0.60%), The FBM Emas advanced 42.59 points to 11,531.97 (+0.37%), advanced to (+0.37%), The FBM Shariah Index climbed 39.63 points to 11,429.98 (+0.35%), climbed to (+0.35%), The FTSE4Good Bursa Malaysia Index (F4GBM) added 3.15 points to 928.93 (+0.34%). Among the most actively traded counters, West River topped the volume list on its ACE Market debut with 216.97 million shares done at an unchanged price of 39 sen. Other actives included SFP Tech, which rose 1 sen to 23 sen, and NATGATE, which added 4 sen to RM1.56. Gainers outpaced losers as investor sentiment remained supported by regional cues and expectations of continued foreign interest. Related
The Sun
05-05-2025
- Business
- The Sun
West River plans to build new factory in Klang Valley, extend market presence to Johor and Penang
KUALA LUMPUR: Engineering services provider West River Bhd has unveiled plans to construct a new manufacturing facility in Klang Valley and extend its market presence into Johor and Penang. Managing director Lim Yong Lai said the group aims to channel RM10 million (35.84%) of its initial public offering (IPO) proceeds into land acquisition and the development of a new manufacturing facility to increase its production capacity. 'Our initial plan is to buy land, get the necessary approvals, and build the plant ourselves, a process we estimate will take around three years. However, we are also exploring the option of acquiring ready-built buildings which could shorten the timeline depending on market availability,' he said in a press conference following West River's listing on Bursa Malaysia's ACE Market today. Lim said the proposed facility is expected to have around 35,000 sq ft of built-up area, significantly larger than its current site in Kajang. 'It will accommodate expanded production lines for the manufacturing of electrical panels and distribution boards, along with warehousing space.' Apart from physical expansion, West River also plans to diversify geographically. Currently, about 80% of the company's revenue comes from Klang Valley, but it is now eyeing project opportunities in Johor and Penang, especially within sectors such as hospitality and data centres. 'We have two projects pending on the northern side, one in Langkawi and another in the hotel sector. Meanwhile, we are also tendering for data centre projects in Johor, which is a hot sector right now. About 13% of our RM1 billion tender book consists of data centre projects,' Lim disclosed. On financing strategy, he said West River is utilising RM5.6 million (20%) from the IPO to repay borrowings, aiming to reduce its gearing ratio from around 0.3 to between 0.1 and 0.2. 'This will provide more flexibility for future fundraising if needed.' Commenting on Malacca Securities' projection of a 9.7% compound annual growth rate (CAGR) in core revenue over the next three years, Lim expressed confidence in the company's growth trajectory. 'While Malacca Securities projected a 9.7% CAGR in earnings over three years, our internal targets are more ambitious at 15%.' West River opened higher at 39.5 sen on its debut, representing a 1.28% premium over its IPO price of 39 sen per share. Based on West River's enlarged share capital of 357.7 million shares and the IPO price of 39 sen per share, its market capitalisation upon listing is about RM139.5 million. Lim said the IPO performance met internal expectations. 'We are happy that investors still have confidence in us. The demand in the M&E sector remains strong.'
The Star
05-05-2025
- Business
- The Star
ACE Market debutant West River emerges as most actively traded stock
KUALA LUMPUR: ACE Market debutant West River Bhd, which has emerged as the most actively traded stock this morning, is well-positioned for sustained growth, said Rakuten Trade Sdn Bhd. This is evidenced by the company's sizable unbilled order book of RM247.3 million across 26 active contracts, it said. In a note, the online stock broking company said West River is also actively tendering for 101 projects totalling RM1.03 billion. Equipped with the prestigious G7 Construction Industry Development Board (CIDB)and Class A ST licenses, the company is eligible to bid for projects of unlimited value, significantly widening its market reach. "As Malaysia's mechanical and electrical (M&E) engineering sector benefits from continuing urbanisation, infrastructure investment, and demand for energy-efficient systems, especially in data centres, healthcare, and commercial buildings, West River stands to gain from regulatory tailwinds that favour certified and sustainable solutions,' said Rakuten Trade. Overall, it is optimistic about West River's prospects, premised on its robust contract pipeline, digital capabilities, and healthy net cash balance sheet, which collectively equip the group to sustain long-term growth post-listing. It recommended a "buy' call with a fair value of 47 sen for the company. As at 10 am, West River's share price was 1.0 sen lower at 38 sen, with 40.17 million shares traded. - Bernama
New Straits Times
05-05-2025
- Business
- New Straits Times
West River throws spark into jittery market with modest debut
KUALA LUMPUR: Against the odds and in a market on edge, West River Bhd threw a lifeline to investor sentiment, making a modestly upbeat debut on Bursa Malaysia. The engineering firm, the twentieth to go public this year, opened half a sen higher at 39.5 sen, up 1.28 per cent from its initial public offering price (IPO) of 39 sen. This small but steady start came despite West River having the lowest IPO subscription rate so far this year — just 0.26 times, compared to earlier listings. However, it remains to be seen how the market debutant will fare throughout the trading day, as investor appetite continues to cool amid growing market caution. Listed on the ACE Market, West River was the most actively traded stock at the opening bell, with more than eight million shares changing hands. Since HI Mobility Bhd's IPO on March 28, oversubscription rates have slipped below the 10-times mark, with many new listings struggling to stay afloat on their first day of trade. West River specialises in mechanical-and-electrical engineering, air-conditioning and ventilation systems, and building solutions catering to various sectors, including commercial, industrial and infrastructure industries. At 39 sen a share, the IPO raised RM27.9 million, which will be channelled toward land acquisition and construction of a new factory, with the goal of tripling its production capacity. The listing offers investors 20 per cent stake in the company from a public issue of 71.54 million new shares and an offer for sale of 35.77 million existing shares.
