LIMAHSOON to raise RM24.7m from its flotation
Business Times, 01 June 2004
LAMINATED board maker LIMAHSOON Bhd is raising RM24.72
million from its flotation to be used mainly for capital
expenditure and repayment of bank borrowings.
"The outlook for the laminated board industry is favourable
and it is forecast to grow at about 5 per cent per annum
for the next five years," chief executive officer of Aseambankers
Malaysia Bhd Agil Natt said during the company's share underwriting
signing ceremony in Kuala Lumpur yesterday.
Aseambankers is the adviser and managing underwriter for
the listing exercise.
To be listed on Bursa Malaysia second board, LIMAHSOON
is making a public issue of 16.4 million shares of 50 sen
each at RM1.08 a share.
Of the total, six million shares will be available to
the public and four million will be placed out to identified
investors.
The issued and paid-up share capital of LIMAHSOON will
increase from RM32 million to RM40.2 million upon listing,
comprising 80.4 million shares of 50 sen each.
"Currently, our products are well-received in Germany,
Japan, India and South Korea as we adhere to strict quality
assurance processes and procedures that are at par with
international standards," managing director Lim Chong Khim
said.
Exports accounted for 2.64 per cent of the company's revenue
last year.
LIMAHSOON posted a 10.1 per cent increase in net profit
to RM6.77 million for the year ended December 31 2003 from
RM6.15 million previously.
Revenue rose 25.7 per cent to RM44.93 million last year,
compared with RM35.76 million in 2002.
The company makes semi-finished timber products and specialises
in laminated boards, finger-joint panels, furniture components,
flooring strips and other rubberwood products.
Laminated wood is LIMAHSOON's core revenue generator,
which contributed 99.6 per cent to its revenue last year.
Link captured from: www.btimes.com.my
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