Malaysian firms happy with response at IMUS 2013 in New York


NEW YORK: The Malaysian companies that were showcased at the just-concluded capital market road show Invest Malaysia USA (IMUS) 2013 held in New York have expressed satisfaction with the response from US fund managers who came to meet them in one-on-one meetings held on Nov 4 and Nov 5 at the Intercontinental Barclays Hotel here. 

Fourteen Bursa Malaysia-listed Malaysian companies joined the roadshow in three US cities New York, Boston and San Francisco. 

They included AirAsia X, Astro Malaysia, Bursa Malaysia, Digi.com, Felda Global Ventures, IJM Corporation, Malaysia Airports Holdings, Maybank Group, Muhibbah Engineering, My EG Services, SapuraKencana Petroleum, Sime Darby, UEM Sunrise and Yinson Holdings

The roadshow, organised by Maybank Kim Eng in conjunction with Bursa Malaysia, aimed to tap into the growth of the Asean region and transform the companies into regional and global multinationals. 

The Petaling Jaya, Selangor-based IJM Corp, with a market capitalisation of RM8.2bil and total assets of RM15.1bil, and diverse business interests ranging from construction and property through industry and infrastructure to plantations, received several US fund managers who showed interest in the company. 

"US fund managers who visited us were well-informed about our company's activities. They had, obviously, done their homework and came prepared to discuss a few details with us. 

"We had eight lengthy meetings with US fund managers. We have quite a large number of foreign shareholders accounting for some 40.8% of our shares. 

"These include many shareholders in the United States. Our domestic shareholders account for 35% and the rest are miscellaneous shareholders," explained Lee Chun Fai, head of corporate strategy and investment at IJM Corp in an interview with Bernama before he left for Boston with the other companies in the delegation. 

"Our main focus is on infrastructure and we also undertake construction projects," said Lee, whose company has been involved in the Kuantan Port expansion entailing some RM3bil. The Malaysian government has earmarked some RM800mil for the construction of a breakwater, and construction work on this project was started by the government some six months back. IJM Corp will start its own work once the government work is completed. 

"The project is expected to be completed by 2018 when ships of 150,000 dead weight tonnes (DWT) will be able to enter the port. Currently, only 40,000 DWT ships can enter. 

"The port expansion will strongly bolster Malaysia's trade with China which wants to make Kuantan the focal point of trade. Our port handled some seven million tonnes of iron ore exported to China," Lee added.

The port also handles shipments of palm oil and petrochemicals bound for China and other countries. 
Bredero's tubular pipes are also shipped in large volumes from Kuantan port.

Another Malaysian company that attracted interest of US fund managers was Muhibbah Engineering (M) Bhd of Klang, Selangor, which has a wide range of business interests, though it calls itself a "niche global oil and gas, and infrastructure specialist company" with strong connection to Indochina. 

Shirleen Lee, the chief financial officer and head of investor relations, said that her company's market capitalisation was RM1bil. 

"I was, actually, very excited to receive US fund managers here in New York. I have had four detailed meetings with the fund managers who showed great interest in our company which has demonstrated the ability to grow and prosper from scratch.

"The fund managers wanted to buy our shares. I am happy that I came to New York with the delegation. It was professionally a very satisfying visit," she said.

"Muhibbah Group provides integrated products and services for the oil and gas industry, and is well positioned to benefit from the strong growth expected in the global oil and gas industry as well as under Malaysia's Economic Transformation Programme (ETP) which aims to transform Malaysia into the ASEA Nregion's number one petroleum hub," she told Bernama. 

"Besides building infrastructure for ports in the form of terminals, jetties, etc., we have a one-stop crane supplying facility through our subsidiary Favelle Favco. 

"We also manufacture vessels for oil and gas transportation. We discern demand for another 200 vessels in the next five years, considering that Malaysia's future policy is to further explore oil and gas and this will, invariably, generate demand for vessels. 

"Also, Muhibbah has been awarded a Petronas licence for offshore facilities construction," Lee said, adding that its order books were full with orders worth some RM2.25bil from domestic and foreign markets. 

"We are visiting the US for the first time. We are also participating in Invest ASEAN 2013, a combined Asean roadshow to be held in London on Nov 18-20, and will be meeting European investors at this event.

 "The Invest ASEAN roadshow is being organised by the French bank Credit Lyonnais," she said. - Bernama

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