Pasukhas to raise RM10.5m from IPO

Mechanical and electrical (MandE) engineering services provider,
Pasukhas Group Bhd, which is en route to listing on the ACE Market of
Bursa Malaysia Securities, expects to raise RM10.5 million from its
initial public offering (IPO) exercise.

Its Chairman/Managing
Director A. K. Teng said the proceed would be used for working capital
(58.9 per cent), repayment of bank borrowings (15.1 per cent), research
and development (5.6 per cent), and the rest for listing expenses (20.4
per cent).

"Our ability to offer a comprehensive range of MandE
engineering services and related electrical equipment provides us with
a competitive edge in the industry," he told reporters at the company's
prospectus launch here today.

Pasukhas Group's listing exercise,
scheduled for Aug 29, involves a public issue of 90 million shares at
an IPO price of 12 sen per share. - Bernama

open for investors currently for application

end of month listing in klci


mid month balloting