TECHBOND TO STRENGTHEN REACH IN EXISTING MARKETS

Company to expand range of industrial adhesives, sealants in bid to improve sustainability

TECHBOND Group Bhd, a manufacturer of industrial adhesives and sealants, aims to expand its business operations following its debut on the Main Market of Bursa Malaysia yesterday.

Managing director Lee Seng Thye said the company aimed to further strengthen its reach in existing markets, including Malaysia, Vietnam and Indonesia.

At the same time, the company also intends to continuously develop and expand its range of industrial adhesives and sealants.

“The expansion is expected to provide sustainability and growth for the company.

“We hope to grow from strength to strength as we aim for better and higher returns to all our shareholders,” said Lee after the company’s listing ceremony, here, yesterday.

Techbond’s shares rose 25 per cent, or 16.5 sen, to 82.5 sen in active trade early yesterday, with 24.08 million shares traded.

Lee said the listing proceeds of RM39.67 million would, among others, be used for the construction of a new factory complex at the Vietnam-Singapore Industrial Park 2 (VSIP) in Binh Duong Province, Vietnam.

Allocations will also be utilised for the purchase of machineries and equipment for the VSIP factory complex and existing factory complexes in Shah Alam.

Techbond began its operations in Malaysia in 1996 and expanded to Vietnam in 2005.

Over the years, it expanded to Indonesia, China, Thailand, Cambodia, Brunei, Liberia, Singapore, Sri Lanka, Maldives, Hong Kong and Uganda.

Public investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent for Techbond’s initial public offering.

NURUL SHAFINA JEMENON PIC BY (From right) Techbond Group Bhd managing director Lee Seng Thye, executive director Tan Siew Geak, independent non-executive director Ooi Guan Hoe and independent non-executive chairman Datuk Hamzah Mohd Salleh at Techbond’s listing ceremony in Kuala Lumpur yesterday.