Pasukhas Group Berhad IPO

Pasukhas GroupPasukhas Group Bhd, a Mechanical and electrical (M&E) engineering services provider is scheduled to be listed in ACE Market of Bursa Malaysia on 29th August 2012.

The Initial Public Offering (IPO) consists of public issues of 90 million new ordinary shares at an IPO price of RM0.12 per share at RM0.10 par value.

Out of 90 million new ordinary shares, 55 million shares are for private placement to selected investors, 10 million shares for application by Malaysian public and the remaining 25 million shares are made available to directors, employees and persons who have contributed to the group.

The IPO would raise RM10.8 million in proceeds.  The proceed would be used for working capital (58.9 per cent), repayment of bank borrowings (15.1 per cent), research and development (5.6 per cent), and the rest for listing expenses (20.4 per cent).

The company had been in M&E services for 27 years, and have successfully completed over 500 projects. Currently, Pasukhas Group has its businesses present in Malaysia, Indonesia, GCC (Gulf Cooperation Council) countries, Sri Lanka and Jamaica.

More information regarding the company can be found in Pasukhas Group Berhad webpage.

Currently, Pasukhas Group Berhad does not have any fixed dividend policy.

The table below is the financial summary for Pasukhas Group Bhd.

FYE 2009 FYE 2010 FYE 2011  FPE Mar 2011 FPE Mar 2012
Revenue (RM’000) 46,407 40,479 25,821  800  903
Profit after Tax (RM’000) 4,292 3,893 1,234  600  769
Earnings per Share (sen)* 1.45 1.32 0.42  0.20  0.26
Price Earnings Ratio (x)* 8.25 9.09 28.69  –  –

* Based on number of shares post IPO

OSK Investment Banks is the sole principal adviser, sponsor, underwriter and placement agent of the IPO.

For those who are interested in Pasukhas IPO, you may subscribe at ATM machines or via Internet Banking. The subscription period is opened until 13th August 2012 at 5pm. Tentative balloting date is on 15th August while the allotment date is on 24th August 2012.

Pasukhas Group stock name in Bursa Malaysia is “PASUKGB”.

View Pasukhas Group prospectus in Bursa Malaysia webpage.

What do you think about Pasukhas Group IPO? Are you going to subscribe?

9 comments… add one
  • Price is cheap at 12sen per share. Might bid for the share for this profit making company.

  • Is this a good share to invest in?

  • Is it me or I do notice there is profits for this company based in the above table, but it has been steadily declining?

  • Seem like this IPO will be goreng.

    Is it true ?

  • Fried this meehoon for short while, got out and make tidy sum. Cannot wait for too long afraid me getting smoke fried.

  • Next day after listing, fried some more with average down. Sold at hoghest level before price fall. Tidy sum, steam still in this counter, alot of frier out there.

  • Coming Monday, I think can fry this mee hoon some more.

  • Eddie, good that you make a tidy sum. If I were you, I won’t touch this counter at this point, Bursa already made UMA.

  • Uma also doesn’t effect lately. But they can suspend the counter if they want. Maybe they also buying this counter. Hehe..


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