Saturday April 10, 2004
Meglob expanding into three
METRONIC Global Bhd (Meglob), which is targeting a Mesdaq
market listing by early May, plans to expand its overseas
operations, especially to China, Bangladesh and India.
Group managing director Dr Ng Tek Che said the company was
building the network and financial capacity to support rapid
“We aim to derive 60% of our earnings from overseas by the
end of next year,” he said after the company's underwriting
and placement agreement signing with Hwang-DBS Securities Bhd
as the underwriter and placement agent for its listing
exercise on Thursday.
Ng said the company already had some small projects in
Vietnam and China.
overseas operations contribute less than 10% of the company's
earnings but that will change in time,” he said, adding that
the company had tendered for projects in China worth about
RM30mil to RM40mil this year.
Hwang-DBS deputy MD Alex Hwang
signing the underwriting and placement agreements while
Meglob executive chairman Tan Sri Kamaruzzaman Shariff
Meglob is an investment holding company with subsidiaries
involved in the intelligent building management system and
integrated security system in Malaysia.
For the fiscal year ended Dec 31, 2003, Meglob posted
RM132mil in revenue and RM3.5mil in after-tax profit. It
recently signed a MoU to acquire 51% stake for US$300,000 in
Inforcon Beijing Pty Ltd, a China-based company with a similar
business background, to spearhead its operations in
Meglob's listing exercise involves the public issue of 71
million shares at an issue price of 21 sen per share. Of the
total 71 million shares, 8 million will be allocated to the
public, 8.5 million to eligible employees and associates, and
54.5 million shares for private placement.
Meglob hopes to raise RM14.9mil from the listing exercise,
of which RM5mil would be used to repay bank borrowings,
RM2.6mil for office expansion, RM3mil for research and
development, RM3.1mil for working capital and RM1.2mil for
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