Latest news with #RM67.6
The Sun
06-06-2025
- Business
- The Sun
Pan Merchant aims to raise RM67.6m from IPO for international expansion
KUALA LUMPUR: Solid-liquid filtration solutions provider Pan Merchant Bhd seeks to raise RM67.6 million from its initial public offering (IPO) for its listing on the ACE Market of Bursa Malaysia for international expansion. Of the total proceeds, the company will allocate RM62.7 million for capital expansion, of which RM28 million will be used to expand its manufacturing plants, including the acquisition of machinery, equipment and tools, as well as renovations to its manufacturing facilities. A further RM7 million will be allocated for product development and the remaining RM27.7 million for business expansion, general working capital and defraying listing expenses. The goal of the IPO is to grow the group's global market share to 2%-3% through further global expansion, particularly in Europe and America. Managing director Wong Voon Ten said the company aims to stay ahead in the industry by emphasising research and development, sharpening the performance of products, experimenting with new materials and technology, and staying agile in addressing the evolving demands of international clientele. 'In tandem with this, we are ramping up our manufacturing capabilities. From investing in the latest machinery and expanding automation to introducing new production lines, these improvements are designed to boost consistency, precision, and production scalability in line with our global growth ambitions,' he said at the launch of the IPO prospectus today. Wong said the US and European markets represent high potential opportunities for premium solid-liquid filtration systems. 'We are confident our offerings are well-aligned with the expectations and standards of these discerning markets.' The IPO involves a total of 250.2 million ordinary shares in Pan Merchant, which includes 232.2 million new shares and 18. million offer-for-sale shares. The total number of shares represents 27.3% of the enlarged share capital. The group aims to distribute at least 30% of its annual audited net profit after tax to reward its shareholders. Pan Merchant is scheduled to list on the ACE Market on June 26. Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the group's IPO.
The Star
06-06-2025
- Business
- The Star
Pan Merchant aims to raise RM67.6mil from IPO
KUALA LUMPUR: Solid-liquid filtration solutions provider Pan Merchant Bhd aims to raise RM67.6 million from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia. The company, which is scheduled for the listing on June 26, 2025, is making a public issue of 232.2 million new shares, priced at 27 sen apiece. Managing director Wong Voon Ten said that through this IPO, the group aims to stay ahead in the industry, placing strong emphasis on research and development, sharpening products performance and experimenting with new materials and technologies. He said the group is also pushing ahead with its international expansion strategy, with particular focus on the United State (US) and European markets which represent high-potential opportunities for premium solid-liquid filtration systems. "We are committed to expanding our international footprint and sharpening our competitive edge as we work towards growing our global market share to 2.0 per cent - 3.0 per cent in the future from 0.5 per cent,' he said during the launch of Pan Merchant's prospectus here today. Wong said Pan Merchant is ramping up its manufacturing capabilities by investing in the latest machinery and expanding automation. The company has earmarked 40 per cent for its capital expenditure out of the RM67.6 million listing proceeds. "The proceeds are going to be mainly in purchasing of capital and investment into machinery for more automation in our production processes and including bringing higher efficiencies in the production process itself with robotics and automation in Computer Numerical Control (CNC) machining centres and so on," Wong said.. From RM67.6 million IPO proceeds, RM62.7 million will be accrued to Pan Merchant, while the balance of RM4.9 million will be for the offerer. Of the total proceeds of RM62.7 million raised, RM28 million would be allocated to capital expenditure for manufacturing plants, including the acquisition of machinery, equipment and tools, as well as renovations to its manufacturing facilities, the company said. A further RM7 million will be allocated for product development and RM27.7 million for business expansion, general working capital and defraying of listing expenses. Established for 38 years, the company is also expanding its business into water, mineral processing and mining industries and renewable energies from the hydrotreated vegetable oil industry. It also aims to distribute at least 30 per cent of its net profit to reward shareholders. Affin Hwang Investment Bank is the principal adviser, sponsor, sole placement agent and sole underwriter for Pan Merchant's IPO exercise. - Bernama
Barnama
06-06-2025
- Business
- Barnama
Pan Merchant Aims To Raise RM67.6 Mln From IPO
REGION - CENTRAL > NEWS KUALA LUMPUR, June 6 (Bernama) -- Solid-liquid filtration solutions provider Pan Merchant Bhd aims to raise RM67.6 million from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia. The company, which is scheduled for the listing on June 26, 2025, is making a public issue of 232.2 million new shares, priced at 27 sen apiece. bootstrap slideshow Managing director Wong Voon Ten said that through this IPO, the group aims to stay ahead in the industry, placing strong emphasis on research and development, sharpening products performance and experimenting with new materials and technologies. He said the group is also pushing ahead with its international expansion strategy, with particular focus on the United State (US) and European markets which represent high-potential opportunities for premium solid-liquid filtration systems. 'We are committed to expanding our international footprint and sharpening our competitive edge as we work towards growing our global market share to 2.0 per cent - 3.0 per cent in the future from 0.5 per cent,' he said during the launch of Pan Merchant's prospectus here today. Wong said Pan Merchant is ramping up its manufacturing capabilities by investing in the latest machinery and expanding automation. The company has earmarked 40 per cent for its capital expenditure out of the RM67.6 million listing proceeds. 'The proceeds are going to be mainly in purchasing of capital and investment into machinery for more automation in our production processes and including bringing higher efficiencies in the production process itself with robotics and automation in Computer Numerical Control (CNC) machining centres and so on," Wong said..
New Straits Times
06-06-2025
- Business
- New Straits Times
Pan Merchant aims to raise RM67.6mil from IPO
KUALA LUMPUR: Solid-liquid filtration solutions provider Pan Merchant Bhd aims to raise RM67.6 million from its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia. The company, which is scheduled for the listing on June 26, 2025, is making a public issue of 232.2 million new shares, priced at 27 sen apiece. Managing director Wong Voon Ten said that through this IPO, the group aims to stay ahead in the industry, placing strong emphasis on research and development, sharpening products performance and experimenting with new materials and technologies. He said the group is also pushing ahead with its international expansion strategy, with particular focus on the United State (US) and European markets which represent high-potential opportunities for premium solid-liquid filtration systems. "We are committed to expanding our international footprint and sharpening our competitive edge as we work towards growing our global market share to 2.0 per cent - 3.0 per cent in the future from 0.5 per cent," he said during the launch of Pan Merchant's prospectus here today. Wong said Pan Merchant is ramping up its manufacturing capabilities by investing in the latest machinery and expanding automation. The company has earmarked 40 per cent for its capital expenditure out of the RM67.6 million listing proceeds. "The proceeds are going to be mainly in purchasing of capital and investment into machinery for more automation in our production processes and including bringing higher efficiencies in the production process itself with robotics and automation in Computer Numerical Control (CNC) machining centres and so on," Wong said.. From RM67.6 million IPO proceeds, RM62.7 million will be accrued to Pan Merchant, while the balance of RM4.9 million will be for the offerer. Of the total proceeds of RM62.7 million raised, RM28 million would be allocated to capital expenditure for manufacturing plants, including the acquisition of machinery, equipment and tools, as well as renovations to its manufacturing facilities, the company said. A further RM7 million will be allocated for product development and RM27.7 million for business expansion, general working capital and defraying of listing expenses. Established for 38 years, the company is also expanding its business into water, mineral processing and mining industries and renewable energies from the hydrotreated vegetable oil industry. Affin Hwang Investment Bank is the principal adviser, sponsor, sole placement agent and sole underwriter for Pan Merchant's IPO exercise.
Independent Singapore
26-04-2025
- Business
- Independent Singapore
Johor ramps up cross-border tourism ties with Singapore ahead of VJY 2026
SINGAPORE: As Visit Johor Year 2026 (VJY 2026) approaches, Johor is intensifying efforts to deepen cross-border tourism collaboration with Singapore, signalling a broader push for regional integration and sustainable economic diplomacy. In a strategic move, more than 100 key trade partners from Johor and Singapore gathered in the city-state this week for a business-to-business (B2B) networking session organised by the Johor Economic, Tourism and Cultural Office Singapore (JETCO). The event served as both a platform for joint tourism ventures and an opportunity to highlight Johor's latest infrastructure developments. Speaking to Bernama at the event, JETCO executive chairman Datuk Hasni Mohammad said, 'With the Johor-Singapore Special Economic Zone, it is timely for the tourism industry to encourage trade associations and tourism companies to work together and complement each other because of the changing patterns of travel. Instead of looking at Malaysia as a competitor, we can complement each other.' A foundation of shared goals and sustainable growth Hasni emphasised that Johor's tourism strategy will benefit from closer alignment with Singapore's experience in sustainable development, particularly in light of the Singapore Green Plan 2030. He also noted that Johor is willing to learn from its neighbour's approach to sustainable tourism, as the state itself is increasingly gearing towards green and responsible travel. His remarks show growing recognition that Johor and Singapore can pool resources, infrastructure, and innovation to create a cross-border destination ecosystem that's appealing to a broader audience. Investment in smart and sustainable tourism Underscoring the state's commitment to future-ready tourism, Johor State Executive Councillor for Unity, Heritage and Culture, K. Raven Kumar, told Bernama that digital innovation is central to their strategy. 'Johor is embracing smart tourism technologies, such as mobile apps, digital platforms, and interactive way-finding tools, to enrich visitors' experiences and make travel more accessible, intuitive, and engaging,' he said, as reported by Bernama. These digital tools will complement traditional tourism draws to have a seamless experience for travellers while showcasing Johor's unique blend of ecotourism, heritage, wellness, and family-friendly attractions. Kumar added that this momentum would be fuelled by 'public-private partnerships strengthened further by the support of regional allies,' underscoring the collaborative model Johor hopes to champion as part of VJY 2026. Infrastructure investment with long-term economic impact The Johor government has made major allocations towards tourism infrastructure. Under its 2024 state budget, Johor has launched 15 infrastructure projects worth RM67.6 million (S$20.27 million). An additional 18 projects, totalling RM48.75 million, have been identified for implementation this year. 'These initiatives are aimed at improving the overall visitors' experience, from upgrading facilities to new attractions and enhancing public amenities in key cultural tourism clusters,' said Raven Kumar. The investments are expected to not only enhance the tourist experience but also catalyse job creation, stimulate local economies, and elevate Johor's profile as a premier tourism and investment destination in Southeast Asia. Public sentiments on social media The cross-border tourism push garnered overwhelmingly positive reactions online, with netizens expressing support for the direction Johor's taking. Under Datuk Hasni's Facebook post on the B2B networking session, comments praising the initiative poured in. 'Congratulations to Johor Bahru,' one user wrote, while another added, 'Congratulations JB and Datuk Hasni!' Others took a more aspirational tone, with messages such as 'Wishing for the advancement of the state and the country!' The wave of public goodwill underscores growing excitement around Johor's strategic positioning ahead of Visit Johor Year 2026 and reflects widespread hope for deeper regional ties and economic revitalisation. Setting the stage for VJY 2026 and beyond With the Johor-Singapore Rapid Transit System (RTS) set to be operational by 2027 and the Johor-Singapore Special Economic Zone materialising, investors see tourism as a cornerstone of deeper regional integration. The VJY 2026 campaign provides a timely rallying point for infrastructure, policy, and cross-border collaboration. The goal has been 'to foster collaboration and joint ventures,' as Hasni has put it. These moves are not just for the immediate boost of the tourism year but as a roadmap for sustained growth. With these strides, Johor is ramping itself up to turn VJY 2026 into more than a tourism milestone, but a means for long-term prosperity. Read also: CIMB commits RM10 billion to power cross-border growth in Johor-Singapore Special Economic Zone
