KUALA LUMPUR, MALAYSIA / ACCESS Newswire / February 19, 2025 / Saliran Group Berhad ("Saliran" or the "Company"), an established supplier and distributor of pipes, fittings and flanges as well as related parts and accessories, and steel products, is pleased to announce the launch of its prospectus for the Initial Public Offering ("IPO") in conjunction with its listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities"). This milestone reflects the Group's commitment to expanding its footprint and seizing growth opportunities in the industrial and oil and gas ("O&G") sectors across Southeast Asia.
(L-R): Mr. Gavin Lim Bak Teik,Chief Operation Officer, Saliran Group Berhad; Ms. Tan Sin Jiang, Vice President, Corporate Finance, Malacca Securities; Mr. Jason Chan, Co-Head, Corporate Finance, Malacca Securities; Ms. Lim Chia Wei, Managing Director, Malacca Securities; Mr. Dennis Liaw Choon Wei, Managing Director, Saliran Group Berhad; Dato' Josephine Low Suet Moi, Independent Non-Executive Chairperson, Saliran Group Berhad; Mr. William Chan Koon Wai, Executive Director, Saliran Group Berhad; Mr. Francis Yong Wai Kin, Chief Financial Officer, Saliran Group Berhad
The IPO aims to raise RM21.71 million through the issuance of 80.4 million Issue Shares at a retail price of RM0.27 per share. The proceeds from the IPO will be allocated as follows:
RM1.20 million for establishment of a sales office in Indonesia.
RM1.44 million for purchase of machinery and delivery trucks.
RM7.00 million for repayment of bank borrowings.
RM8.37 million for general working capital.
RM3.70 million for estimated listing expenses.
Mr. Liaw Choon Wei, Managing Director of Saliran Group Berhad remarked, "The launch of our prospectus is a defining moment for Saliran, signifying a new phase in our growth journey. This IPO will empower us to strengthen our position in the industrial supply chain while enhancing our capacity to deliver high-quality products to customers across the region. The funds raised will allow us to achieve our strategic goals, including inventory expansion, operational improvements, and regional market penetration. We are committed to creating long-term value for our stakeholders and contributing to the growth of the industrial and O&G sectors."
Ms. Lim Chia Wei, Managing Director of Malacca Securities Sdn. Bhd. stated, "We are honoured to be part of this significant milestone for Saliran. The Group's robust presence in the industrial supply sector and its focus on high-demand markets like O&G make it well-positioned to capitalise on current market trends. This IPO will strengthen Saliran's ability to address the increasing need for reliable industrial solutions, paving the way for growth and value creation."
The Group has demonstrated strong financial performance over the past three years, reflecting its strong operational capabilities and market presence. Saliran achieved consistent revenue growth of RM70.6 million, RM138.6 million and RM243.2 million in FYE 2021, FYE 2022, and FYE 2023 respectively, driven by increased demand for its products (including its jointly owned "THF" branded products), particularly in the O&G industry. This financial resilience underscores Saliran's ability to adapt to market dynamics and capitalise on opportunities within the industrial sector across Malaysia and regional markets.
Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent for this IPO.
ABOUT SALIRAN GROUP BERHAD
Saliran Group Berhad ("Saliran" or the "Company") is an established supplier and distributor of pipes, fittings and flanges as well as related parts and accessories, and steel products. The Company and its subsidiaries offer a wide range of high-quality products that are primarily used in the oil and gas ("O&G") industry to support industrial processing, refining and manufacturing activities. Saliran has established a strong presence in Malaysia and regional markets such as Indonesia, Singapore, China, South Korea and Vietnam, providing customised solutions to meet diverse customer needs. With a commitment to customer service, innovation, reliability, and quality, Saliran is well-positioned to capture growth opportunities in industrial development and infrastructure projects across Southeast Asia.
For more information, visit https://saliran.com.my/.
Swan Consultancy Sdn. Bhd. on behalf of Saliran Group Berhad
For more information, please contact:
Jazmin Wan
Email: j.wan@swanconsultancy.biz
Xinyi Ching
Email: x.ching@swanconsultancy.biz
SOURCE: Saliran Group Berhad
View the original press release on ACCESS Newswire
