An analyst told Bernama that the macro factors expected to affect the FTSE Bursa Malaysia KLCI next week, includes the Group of Seven(G7) meeting as investors search for clues on the trade outlook, as well as the timing of the next interest rate hike by the US Federal Reserve (Fed) which meets on June 12.
KUALA LUMPUR: Amlex Holdings Bhd has plans for a RM6.03mil listing on the Leading Entrepreneur Accelerator Platform Market of Bursa Malaysia in September.
In a statement, the company said the listing will involve a placement of 40.2 million shares or 15% of the enlarged share capital at an indicative price of 15 sen a share.
Upon listing, the market capitalisation of the company will be RM40.2mil.
According to the statement, Amlex aims to be the leading electronic packaging and interconnect solution provider that manufactures lead frames for integrated circuits, as well as other electronic packaging and interconnect components.
Of the proceeds from the placement, the company plans to utilise RM3.2mil for capital expenditure.
"Amlex will set up and build a new in house designed rack plating machine and an additional reel-to-reel electroplating plating machine; testing and quality assurance equipment as well as facility upgrade," it said.
The remainder of the proceeds will go towards working capital, research and development and listing expenses.
"In 2017, we embarked on an R&D initiative to develop production capabilities in optoelectronic lead frames for application in LED lighting and daytime running lights for the automotive industry.
"Our R&D efforts in this area have led to the design and development of processes and quality control systems for metal stamping as well as surface finishing and treatment services to meet the needs of the automotive industry,” said Lim Say Soon, co-founder and managing director of Amlex.
The major shareholders of the company are Lim Say Soon with 34.7% stake and Lim Say Peng, co-founder and executive director, with 24.3% stake.
"After listing, Mr Lim Say Soon and Mr Lim Say Peng’s stake will be diluted to 29.5% and 20.7% respectively while the pre-LEAP investors stake will be reduced to 34.9%," the company said.
Amlex posted a net profit of RM2.2mil on the back of RM39.3mil revenue for its financial year ended March 21, 2018.
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