IPO Malaysia

IPO - Heng Huat Resources Group Berhad (HHGROUP)

kltrader
Publish date: Tue, 01 Jul 2014, 09:44 AM
kltrader
0 20,641
My collection of new IPOs in Malaysia and the background of companies going for IPO.

Listing Detail:
Listing Sought: ACE Market
Issue Price: RM 0.45
Par Value: RM 0.10

Dates:
Offer Period Open: 30-06-14
Offer Period Close: 16-07-14
Tentative listing date: 25-07-14

Number of shares:
Public Issue: 46,500,000
Offer for Sale: 14,660,000
Private Placement: 26,860,000

Stock Code: HHGROUP

Official Announcement

INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:

(I) PUBLIC ISSUE OF 46,500,000 NEW ORDINARY SHARES OF RM0.10 EACH IN THE FOLLOWING MANNER:

  • 7,000,000 NEW ORDINARY SHARES OF RM0.10 EACH AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;
  • 5,000,000 NEW ORDINARY SHARES OF RM0.10 EACH AVAILABLE FOR APPLICATION BY OUR ELIGIBLE EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;
  • 12,200,000 NEW ORDINARY SHARES OF RM0.10 EACH BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS; AND
  • 22,300,000 NEW ORDINARY SHARES OF RM0.10 EACH BY WAY OF PRIVATE PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND


(II) OFFER FOR SALE OF 14,660,000 EXISTING ORDINARY SHARES OF RM0.10 EACH BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS;

AT AN ISSUE/OFFER PRICE OF RM0.45 PER SHARE PAYABLE IN FULL UPON APPLICATION

Company Overview

Heng Huat Resources Group Berhad, an investment holding company, engages in the manufacture and sale of mattresses and related products; and manufacture and trade of coconut and oil palm biomass materials in Malaysia. It offers fiber and other mattresses and bedding accessories, including mattresses, divans, and headboards under the Fibre Star brand name; and cushions, pillows, and bolsters under the Xiong Mao brand name to furniture retailers. The company also operates as an original equipment manufacturer of fiber mattress for various local brands. In addition, it provides oil palm empty fruit bunch fiber and coconut fiber for various applications, including mattress, briquette, coconut fiber sheet, and geotextile, paper pulp, landscaping, and horticulture; coconut peat for fertigation and soil conditioning applications; and coconut fiber sheets for mattress. Further, Heng Huat Resources Group Berhad exports its products to China. The company is headquartered in Sungai Bakap, Malaysia.


Address & Contact:
No. 2945, (Plot A2), Jalan Sungai Baong,
Kawasan Perindustrian Perabut Sungai Baong,
MK 5, 14200 Seberang Perai Selatan,
Pulau Pinang, Malaysia.

Tel : +604-5825888
Fax : +604-5821888 / +604-5822689
Email : henghuatgroup@henghuat.com.my
Website: www.henghuat.com.my
 

In the News: Heng Huat plans to extend its geographical footprint to China

PETALING JAYA: Heng Huat Resources Group Bhd, which aims to raise RM20.93 million proceed from its initial public offering, plans to extend its geographical footprint in China to tap the growing demand for oil palm empty fruit bunch fibre (EFB).

In a statement yesterday, Heng Huat said its export to China has more than doubled in recent years comprising primarily EFB fibre to RM40.7 million in the financial year ended Dec 31, 2013 from RM18.7 million in FY2011.

"It is timely for us to extend our geographical footprint by including China as our expansion strategy. Our success thus far in penetrating the huge Chinese market with our exports says as much the unabated demand for our EFB fibre in the country as it does our product quality," said co-founder and managing director of Heng Huat, H'ng Choon Seng.

"With the planned set up of a subsidiary in China, we hope to not only strengthen our network amongst the industrial users, but also ride ahead the market trends as we cater our innovation initiatives to meet the market demand," he said.

In FY2013, he said Heng Huat's exports to China made up about 55.2% of the Group's revenue of RM73.7 million.

H'ng said the company plans to set up the subsidiary company in the southern region of China by the first quarter of 2015, subject to obtaining the relevant regulatory approvals from the China authorities.

Established since 2007, Heng Huat currently has three oil palm biomass processing facilities in Selama, Kedah, and in Seberang Prai Selatan, Penang, with a 20-line processing capacity of approximately 100,500 metric tonnes of EFB fibre per annum.

He said it also has a coconut biomass processing plant in Bachok, Kelantan, in addition to a production plant in Seberang Prai Selatan, Penang for downstream manufacturing of mattresses and related products.

"With sizable supply of EFB in Malaysia, coupled with our processing capacity, we are positive that our direct presence in China will help in scaling up the group's exports," he added.

Heng Huat, which is slated to be listed on the ACE Market of Bursa Malaysia on July 25, plans to allocate some RM4 million of its RM20.93 proceed for capital expenditure, RM4.55 million for working capital while the remaining RM9.38 million and RM3 million would be allocated for the repayment of bank borrowings and defraying listing expenses respectively.

-- The Sun Daily

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1 person likes this. Showing 29 of 29 comments

Taufikshafii

Bole lanyak ke nie

2014-07-01 21:57

AyamTua

anything that ends with "huat" all can try..
as long as... jangan ada "bo huat" ...
kikiki

p/s: just saw this one too.. huat.. banyak sangat kaunter name huat.. takut jadi "bo huat" .... tunggu sampai jadi "tua huat"... kikikiki

2014-07-01 21:58

godzilla

Boleh...play with high volume

2014-07-02 00:25

kingdomtan888

Xiong Mao brand mattress by heng huat bhd
Kekekekekekekkekekekek

2014-07-02 00:28

kingdomtan888

AT
Hopefully can have double huat from henghuat
Heng heng huat huat
Kekekekkekekekke

2014-07-02 00:29

AyamTua

kikiikiiiii

2014-07-02 00:30

kingdomtan888

AT let's us invite lim Brunei to be here
Free shark fin soup from Brunei to be served
Kekekkekkeekkeke

2014-07-02 00:31

AyamTua

ha .. ha.. ha

2014-07-02 00:32

Taufikshafii

Still pending

2014-07-06 22:47

Tefal Pan Set

is it promising?

2014-07-07 08:53

beastkot123

Can enter ..que some..huat arr...

2014-07-17 02:42

Kent

when will know the result?

2014-07-18 10:33

huat888

today balloting. So results by Monday

2014-07-18 10:36

Kent

Thanks huat888~

2014-07-18 10:40

zulaffandi

Anyone know what TP for this stock on 25/7/2014?

2014-07-23 10:14

ruslimz

huat......1.00

2014-07-23 11:02

speakup

when open, just whack!

2014-07-23 11:04

zulaffandi

sounds great..!!

2014-07-23 11:24

lindalatif66

Lugi xbeli ipo time lor haiya...

2014-07-23 16:20

Kent Lo

Sounds like a very promising company
missed the offering period... *sigh*

2014-07-23 17:58

Kent Lo

http://hhgroup.irplc.com/investor-relations/ratio-analysis.html
based on the financial report, TP 0.75 on listing day.

2014-07-23 18:05

godzilla

Hopefully heng huat will go up like econpile

2014-07-24 16:26

Shamri Seman

Down...

2014-07-30 12:29

satha44

I bought today...at 52sens....

2014-08-04 14:06

satha44

Should retest...first day high again..soon.

2014-08-04 14:08

backspace

IPO on raya eve, and after raya Argentina default and Dow laosai..what a luck, let all the contra and short term players leave then heng huat will huat again.

2014-08-04 14:16

backspace

0.515, slowly picking up. buy queue strong support.

2014-08-05 15:43

Jandec9999

Zzzzzz....

2014-08-22 10:30

shareguru

bonus issue yeah!!!

2014-09-18 11:42

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