IPO Pasukhas Group Berhad

IPO Summary

Company Name: Pasukhas Group Berhad

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

Listing date: 29^th 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