Friday, August 10, 2012

IPO Pasukhas Group Berhad



IPO Summary

Company Name: Pasukhas Group Berhad

Offer period: OPEN (2/08/2012) CLOSE (13/08/2012)

Listing date: 29th August 2012

Listing Sough: Ace Market

Number of shares:
                Public                         : 90,000,000
                Offer for sale          :    -
                Private Placement :  55,000,000

Offer Price: RM0.12 /ordinary share

Main business:

M&E Engineering Services
Provision of M&E engineering services for our targeted customers in the water treatment and sewerage industry, palm oil and sugar mills and refineries, and other factories in the manufacturing sector. To complement their core service of M&E engineering, they began manufacturing a range of quality LV switchboards.

Competitive Strengths
  1.      Experienced key management
  2.         Proven track record
  3.      Commitment to quality assurance and quality control
  4.       Design and value engineering capabilities
  5.      Comprehensive range of services and products
  6.      Competitive pricing
  7.      Skilled employees


Board of Director:
  •  Teng Ah Kiong                                                  Chairman / Managing Director
  • Teng Yoon Kooi                                                 Executive Director
  • Tan Chor Tong                                                   Executive Director 
  • Datuk Khor Chin Poey                                       INED
  • Ir. S. P. Thiagarajan a/l Suppiah                          INED
  • Teoh Kim Hooi                                                  INED


Utilisation of Proceeds:

Details o Utilisation
Estimated timeframe for utilisation upon listing
RM Million
‘000
%
R&D Expenditure
Within 24 months
600
5.6
Repayment of bank borrowing
Within 12 months
1,634
15.1
Working capital
Within 24 months
6,366
58.9
Estimated listing expenses
Upon listing
2,200
20.4
Total gross proceed

10,800
100.00

 Financial Report:


2009
2010
2011
REVENUE
46,407
40,479
25,821
GROSS EPS (sen)
2.09
1.90
0.60
PAT
4,292
3,893
1,234
NTA
17,801
19,914
19,132
PBT
6,247
5,284
1,849
PBT MARGIN (%)
13.5
13.1
7.2
PE Ratio   (estimated)                                                                                 10

Risk Factors:

-          Dependence on particular segments, market and geographical locations
-          Availability and fluctuations in prices of raw materials
-          Absence of long term contractual agreement with customers
-          Breakdown of fire, energy crisis and other emergency crisis
-          Risk o expansion into foreign markets
-          Related party transaction
-          Financial performance
-          No assurance that our future plans will be commercially successful
-          Intellectual property rights and trademarks infringement

Risk relating to Investment in their shares
-          Delay or abortion of our listing
-          No prior market for our shares and possible volatility of our share price
  
Future Plans and Strategies
1.       Market Expansion
2.       Public-private partnership projects
3.       Services and products development
4.       Broadening customer base
5.       Investing in Human Resource Development and expansion

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