Business Today: PMW To Use Listing Proceeds For New Manufacturing Plant In Sarawak
September 22, 2025
PMW International Berhad has sealed an underwriting agreement with KAF Investment Bank Berhad in conjunction with its upcoming initial public offering on the ACE Market of Bursa Malaysia Securities Berhad.
In conjunction with its listing, PMW will undertake an initial public offering exercise entailing a public issue of 178,411,000 new ordinary shares and an offer for sale of 89,205,000 existing ordinary shares. Of the 178,411,000 Public Issue Shares, 44,602,600 Public Issue Shares will be made available to the Malaysian Public via balloting.
PMW Group is principally involved in the design, manufacturing, and sale of pre-stressed spun concrete poles, piles, and related concrete products such as decorative poles, monopoles, and square piles. The Group also manufactures moulds, machinery, metal products and lighting products. Its products serve the power transmission and distribution, telecommunications, infrastructure, and construction industries in Malaysia and abroad. The Group operates multiple manufacturing facilities in Perak and Sabah and exports to regional and international markets.
The proceeds from the IPO will be utilised to fund business expansion, including the construction of a new facility in Tanjung Manis, Sarawak, to manufacture spun poles and piles, enabling PMW to better serve the East Malaysia customers while capitalising the growing infrastructure opportunities in Sabah and Sarawak. In addition, part of the proceeds will be allocated for the purchase of new machinery and equipment to support moulds and spun poles and piles operations. The remaining proceeds will be used for general working capital and the listing expenses.
Mr. Lee Hon Hwa, Executive Director and Chief Executive Officer of PMW, said: “We are expanding with a new facility in Tanjung Manis for the manufacturing of spun poles and piles, allowing us tap into East Malaysia’s booming infrastructure development. The development of public utility industries in Malaysia, such as telecommunications and electricity utility, continues to thrive on strong federal government support. With an allocation of RM3.0 billion for the utilities sector under Budget 2025, PMW is well-positioned to capitalise on this momentum and continue supporting the nation’s infrastructure growth.
The Company is expected to be listed in mid-November 2025. KAF Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for the IPO.