THB signs deal for Bursa listing

Tashin Holdings Bhd (THB) has inked an underwriting agreement with M&A Securities Sdn Bhd, Malacca Securities Sdn Bhd and JF Apex Securities Bhd for the company’s initial public offering (IPO) exercise on ACE Market of Bursa Malaysia.

Managing director Lim Choon Teik said the agreement not only showed the underwriters’ confidence in the company, it also brought THB a step closer to a Bursa listing.

“I believe the listing exercise will enable THB to strengthen its position in the steel processing and manufacturing industries as it charts its future growth story,” he said in a statement yesterday.

THB has grown organically in the past 18 years since its inception and has ventured into processing (slitting and shearing) of steel coils into steel sheets, manufacturing

I believe the listing exercise will enable THB to strengthen its position in the steel processing and steel manufacturing industries as it charts its future growth story.

LIM CHOON TEIK

Tashin Holdings Bhd managing director

of steel products comprising, steel pipes, flat bars, square bars, expanded metals, checkered plates and C Purlins, as well as trading of steel products.

“We hope to further increase confidence among our investors, stakeholders and customers while continuing to work towards enhancing the long-term value of our company by providing quality products across our steel processing and steel manufacturing divisions,” said Lim.

The IPO would further strengthen its financial position as it embarks on the next phase of its business expansion plans.

The company said the IPO proceeds would be used mainly for capital expenditure to support THB’s expansion into the production of wire mesh products, as well as upgrading the existing steel processing line.