From left: Kee Ming Group Bhd non-independent executive director Choy Sook Yan, non-independent executive director and managing director Ir. Liew Kar Hoe, TA Securities Holdings Bhd executive director, operations Tah Heong Beng and TA Securities head of corporate finance Ku Mun Fong.
KUALA LUMPUR: Kee Ming Group Bhd has signed an underwriting agreement with TA Securities Holdings Bhd to underwrite 24.38 million new shares ahead of its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
The mechanical and electrical (M&E) engineering solutions provider said the IPO will involve the issuance of 66.63 million new ordinary shares, representing about 20.5% of the enlarged issued share capital of 325.00 million shares.
It will also include an offer for sale of 16.25 million existing shares, representing about 5.0% of the enlarged issued share capital.
“The signing of this underwriting agreement represents another important milestone in Kee Ming’s journey towards becoming a listed company.
“Our IPO will provide the financial resources to strengthen our financial position and enable us to undertake more projects or projects with higher value that support Malaysia’s industrial growth and clean energy transition,” non-independent executive director and managing director Liew Kar Hoe said in a statement.
As at July 31, 2025, Kee Ming’s has a total of 50 ongoing projects with a total project value of RM218.6mil and a total outstanding order book of RM142.2mil.
Headquartered in Ipoh, Perak, the group said the positive outlook for the M&E engineering services market supports its growth trajectory, with the market forecast to expand from RM10.86 bil in 2025 to RM16.82 bil in 2029, a compound annual growth rate of 11.9%.
This growth is underpinned by robust infrastructure and building activities, the expansion of data centres, major government projects such as the Penang Light Rail Transit, Johor Singapore Rapid Transit System and the Johor-Singapore Special Economic Zone, as well as Malaysia’s accelerating green energy transition, including solar PV and EV charging developments.
TA Securities is the principal adviser, sponsor, sole placement agent and sole underwriter for this IPO, while Eco Asia Capital Advisory Sdn Bhd serves as the financial adviser of the IPO.
Kee Ming is an M&E engineering solutions provider with about 13 years of experience, offering electrical, mechanical and clean energy services to industrial, commercial and residential clients across Malaysia.
