Advancecon Holdings gets SC nod to list on Main Market

MIDF Research says cumulative net foreign inflow into Bursa for 2016 fell to RM2.42bil

KUALA LUMPUR: Civil engineering company Advancecon Holdings Bhd has received the Securities Commission's approval to list on the Main Market of Bursa Malaysia Securities.

The earthworks and civil engineering services company, which was founded in 1990,  is primarily involved in the provision of earthworks and civil engineering services in Malaysia.

It said to date, it has undertaken earthworks and civil engineering for projects nationwide, including various township developments including Setia EcoHill, Setia Eco Gardens, Eco Majestic and Tropicana Aman, as well as infrastructure projects such as Trumpet Interchange and Ecohill link at LEKAS Highway. 

Advancecon group CEO Datuk Phum Ang Kia said in the past 27 years, the group has set a strong track record in completing projects on time and built a reputation for delivering quality earthworks and civil engineering services. 

“More importantly, we transitioned from being a subcontractor providing civil engineering services into one of the leading players in the earthworks and civil engineering sector in Malaysia.

“Our proposed listing on the Main Market will surely chart a new phase in our growth story, and prepare the Group to take advantage of the tremendous opportunities within the construction sector going forward.”

Advancecon targets to be listed by mid-2017. RHB Investment Bank Bhd is the principal adviser, underwriter and placement agent for Advancecon’s initial public offer exercise.