Benalec debuts with 36 sen premium Benalec Holdings Bhd, an integrated marine construction and vessel chartering services provider, made its debut on the Main Market of Bursa Malaysia with a 36 sen premium over its offer price of RM1 per share. A total of 8.6 million shares were traded.
"We are happy with the share price of RM1.36 and feel quite confident of doing much better in future," said managing director, Vincent Leaw Seng Hai here today. Upon listing, Benalec is expected to have a market capitalisation, of approximately RM730 million.
Benalec's initial public offering (IPO) will raise RM100 million in total from local and foreign institutional investors as well as local retail investors.
The company has also determined that its investors would get dividends of 15 per cent and 30 per cent net profit for the financial year 2011 and financial year 2012 respectively.
Leaw said Benalec was in the midst of procuring the Building and Construction Authority (BCA) licence from the Singapore government, to enable the company to bid for land reclamation projects.
"Hopefully, can we get the licence within the next one to two months, and secure all the contracts, under our branch office in Singapore.
"We are concentrating now more on our markets in Penang, Melaka, Johor and Singapore, for the future.We also plan to explore more overseas prospects," he added.
He also said, according to independent market researchers, the South East Asian market for the next 10 years, has about RM170 billion projects available, and offers good prospects for Benalec to invest and expand its operations beyond domestic borders.
The company currently has an order book of RM855 million, of which RM664 million is in unbilled orders and will last until 2016.
Meanwhile, OSK Research in a research note today said, it views Benalec as the main beneficiary of more marine construction jobs, given its 17.9 per cent marketshare in the industry.
"Apart from the domestic front, we envisage some wins from Singapore, where its sister company Oceanlec, has won a building material supply contract," the research house said.
Oceanlec has signed an undertaking to not compete for jobs that Benalec bids for.
Oceanlec has also agreed to give Benalec, the first right of refusal, as sub-contractor for jobs that it is not licensed to directly bid for. -- Bernama
享18%海事建筑市场 宏洋控股溢价亮相 二零一一年一月十七日 晚上六时四十五分
(吉隆坡17日讯)宏洋控股有限公司(BENALEC,5190,建筑组)今日在大马交易所粉墨登场,首宗交易即取得36仙,或36%的溢价。
该股首宗交易以1.36令吉完成,共有1200万股转手。
配合上市,该综合海事工程专家已经公开发售3650万每股面值25仙普通股予马来西亚公众人士申请,及私下配售5700万股与保留另外650万股予公司董事、雇员和商业伙伴。
另外,它也献议发售1亿3000万每股面值25仙普通股,其中5700万股供私下配售,及其余7300万股售予国际贸工部批准的土著投资者。
上述股票的每股发售价均为1令吉。
截至闭市时,宏洋控股以1.34令吉挂收,早前一度晋至1.39令吉最高价位,成交量达1亿零85万5800股。
大马投资研究已建议‘买进’宏洋控股,并把其合理价订于1.90令吉。
该研究公司说,宏洋控股享有马来西亚海事建筑市场的18%份额,目前这个市场只有5个主要活跃业者支配。
与此同时,侨丰投资研究则把目标价订于1.42令吉,相等于42%的上升空间。
它说,该公司的商业模式独特,因它也接受填土地段作为付款。
侨丰投资研究指出:“其利润超越建筑业平均。我们看到马六甲、槟城和柔佛更多填土工程。它也有潜质扩充至土地缺乏的新加坡。”
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