AmInvest Research believes two main growth drivers for Pentamaster this year are smart sensors used in mobile devices and semiconductor components used in electric vehicles (EVs), e.g. power inverters and multilayer ceramic capacitors (MLCCs).
GEORGE TOWN: Pentamaster International Ltd (PIL), a Penang-based group to be listed on the main board of the Hong Kong Stock Exchange on Jan 19, plans to raise RM192mil from its initial public offering (IPO)
Group executive chairman Chuah Choon Bin told StarBiz that RM92mil of the proceeds would go towards PIL's business activities.
"The remaining RM100mil would be used for the expansion of Pentamaster Corp Bhd
(PCB), its parent company in Penang.
"Some RM45.8mil from the RM92mil will be used for the construction of PIL's plants in Batu Kawan and in Bayan Lepas.
"We are allocating RM20.6mil to acquire new businesses with growth potential in Greater China, which covers mainland China, Taiwan, Hong Kong and Macau.
"Another RM15.3mil would be spent on setting up a design, sales, and services office in California to bring us closer to our clients and tap into new markets," he added.
Chuah said that since January 2018, PIL had already received purchasing orders of RM246mil for its automated equipment and automated manufacturing solutions and products.
"PIL will focus on supplying automated equipment and solutions to the telecommunications, automotive, and medical device sectors," he added.
PIL's IPO shares will be priced between HK$0.90 and HK$1.10. PIL is offering 368 million shares for subscription by the public and institutions.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
