Issuer Offer / Issue Price Closing Date Listing Date
Focus Lumber Berhad 0.60 18/04/2011 28/04/2011
Ini sykt pembalakan, jom analyze prospektusnya..
Focus Lumber Bhd, a Sabah-based plywood, veneer and laminated veneer manufacturer (LVL), aims to raise some RM7.32 million from an initial public offering (IPO) to fund working capital.
It is headed for the Main Market of Bursa Malaysia at the end of April and its prospectus is likely to be out in early April.
The group is offering 12.2 million new shares priced at 60 sen each to the investing public. Some 57 per cent of that is being underwritten by Bank Islam Malaysia Bhd and BIMB Securities Sdn Bhd, the IPO arranger.
At the underwriting ceremony held in Kota Kinabalu yesterday, Focus Lumber managing director Lin Fong Ming, Bank Islam managing director Datuk Seri Zukri Samat and BIMB Securities chief executive officer Rashid Ismail signed the documents.
"We are very pleased to have won the trust and confidence of one of the major plywood manufacturers in the countries," Zukri said.
Lin said that their decision to
step foot in Malaysia in the 1980s was one of the best they had made, and Sabah in particular, because of
its rich natural tropical forest resources.
The company holds
22 per cent of the domestic market and sells products to over 14 countries including the US, Australia, Mexico and some in Europe. It was set up in Keningau, in the interior of Sabah, in 1990 and commenced business in November 1991. Its LVL products are made from recycled wood waste.
"Our plywood is environmentally friendly and we were the
first Malaysian plywood mill company to be certified as a California Air Resources Board Certified manufacturer," Lin said in his speech.
Focus Lumber integrates different types of timber logs to produce plywood, reducing the restriction in the use of only certain types of timber logs.
Read more: Focus Lumber aims to raise RM7.3m
http://www.btimes.com.my/Current_News/BTIMES/articles/COSFU/Article/#ixzz1IiPr89iy