PETALING JAYA: Penang-based Emits Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the provision of end-to-end manufacturing services for passive antennas to mostly telecommunicatiosn companies and providers for electronic manufacturing service of electronic parts, products or services.
In its prospectus exposure, the company said its initial public offering (IPO) would entail the public issue of 93.75 million new ordinary shares.
Mercury Securities Sdn Bhd is the sponsor for the company’s IPO.
The company said proceeds from the IPO would primarily be used to purchase machinery and equipment.
To capture a wider market, Emits said it is expanding its business to include manufacturing of 5G base station antennas.
“To cater for this potential manufacturing volume, we have set up four new production lines at our Penang factory. They are currently operationally ready for manufacturing of 5G base station antennas.”
The company also intended to expand its research and development (R&D) capabilities.
“Presently, we have an R&D department.
“Our R&D activities require the use of various machinery and equipment to perform radio frequency data analysis and internal sample tests.
“Some of these required machinery and equipment are presently used for our production purposes.”
Emits said its factory is located within the Bayan Lepas Free Industrial Zone in Penang, a hub for semiconductor and electronics manufacturing and other export-oriented industries.
“This location provides us with several operational advantages such as eligibility for tax incentives and exemptions on imported raw materials and machinery for our production activities.
“This operating location also enables us to achieve shorter manufacturing lead time due to close proximity to our suppliers, as well as connectivity to international markets through air and sea routes, facilitating the export of our products to key sales markets.”
Emits added that it has an assembly line in Taiwan.
