INTA BINA EYES AF­FORD­ABLE HOUS­ING MART

Build­ing con­trac­tor ex­pects to ten­der for projects in the Klang Val­ley

New Straits Times - - Business -

INTA Bina Group Bhd plans to es­tab­lish a foot­print in the af­ford­able hous­ing seg­ment after list­ing on Bursa Malaysia. The build­ing con­trac­tor ex­pects to ten­der for af­ford­able hous­ing projects in the Klang Val­ley from pri­vate hous­ing de­vel­op­ers un­der the fed­eral and state af­ford­able hous­ing scheme.

Man­ag­ing di­rec­tor Paul Lim Ooi Joo said the af­ford­able hous­ing seg­ment has growth po­ten­tial and was re­ceiv­ing favourable at­ten­tion from the gov­ern­ment and gain­ing trac­tion in the lo­cal prop­erty mar­ket.

“Our strat­egy to con­struct af­ford­able hous­ing projects ef­fi­ciently is by us­ing alu­minium sys­tem form­work. Alu­minium sys­tem form­work is suitable for mass con­struc­tion of build­ings with repet­i­tive de­signs.

“As such, our pro­posed ac­qui­si­tion of the ad­di­tional alu­minium sys­tem form­work can sup­port our plan to pen­e­trate into the af­ford­able hous­ing seg­ment,” he said in a state­ment.

The com­pany will spend RM5 mil­lion out of RM26.76 mil­lion raised from its ini­tial pub­lic of­fer­ing (IPO) for capital ex­pen­di­ture, to buy ma­chin­ery and equip­ment as well as to re­place the fully de­pre­ci­ated equip­ment within 12 to 24 months.

Inta Bina Group was listed on the ACE Mar­ket of Bursa Malaysia Se­cu­ri­ties on Thurs­day.

Based on its en­larged share capital of 535.26 mil­lion shares and ini­tial pub­lic of­fer (IPO) price of RM0.25 per share, the com­pany’s mar­ket cap­i­tal­i­sa­tion was about RM133.81 mil­lion upon list­ing.

M&A Se­cu­ri­ties Sdn Bhd was the ad­viser, spon­sor, un­der­writer and place­ment agent for the IPO ex­er­cise.

(From left) Inta Bina Group Bhd ex­ec­u­tive di­rec­tor Chau Yik Mun, Inta Bina senior in­de­pen­dent di­rec­tor Yap Yoon Kong, Inta Bina chair­man Lim Pang Kiam, M&A Se­cu­ri­ties Sdn Bhd man­ag­ing di­rec­tor of cor­po­rate fi­nance Datuk Bill Tan, M&A Se­cu­ri­ties head of cor­po­rate fi­nance Gary Ting, Inta Bina deputy man­ag­ing di­rec­tor Teo Hock Choon and Inta Bina man­ag­ing di­rec­tor Paul Lim Ooi Joo at the com­pany’s list­ing cer­e­mony on the ACE Mar­ket of Bursa Malaysia Se­cu­ri­ties on Thurs­day.

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