Colform Group Berhad (“Colform” or the “Group”) has established itself as a reliable partner with more than two decades of experience, providing comprehensive steel solutions to assist Malaysia’s construction growth from inception to completion. Colform, which has its headquarters in Kota Kinabalu, Sabah, offers a wide range of downstream steel products, including wall claddings, roofing sheets, and IBS steel framing systems. Its labour-saving, cost-effective solutions aim to meet industry requirements. Colform represents dependability and creativity in every project for a wide range of clients, including those in the public, private, and commercial sectors.
The prospectus for Colform’s anticipated Initial Public Offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) has been published. Colform is a well-known specialist in steel and building materials in East Malaysia. An important turning point in Colform’s history, this IPO allows the Group to grow and establish its position in the steel manufacturing, trade, and installation services markets.
By issuing 114.42 million new shares at an issue price of RM0.36 each, Colform hopes to raise RM41.19 million through this IPO. The following is how the proceeds will be distributed:Â
- RM5.1 million for business expansion into Peninsular Malaysia, including establishing a branch office and leased factory in Klang.
- RM18.09 million for working capital purposes.
- RM4.5 million for listing expenses.
- RM9 million for the establishment of a colour coil coating production line at the Kota Kinabalu factory.
- RM4.5 million for the construction of a new storage facility in Kota Kinabalu.
“The launch of our IPO prospectus marks a significant milestone in Colform Group Berhad’s history. Since our inception in 2003, Colform has grown from humble beginnings into a provider of comprehensive steel solutions. From concept to completion, we deliver tailored services spanning design, production, and installation, including Industrialised Building System (IBS) framing systems. Our ability to adapt and evolve with changing customer demands has been key to our success, enabling us to offer innovative, tailor-made solutions that meet industry needs.
This IPO will enable us to expand our capabilities with a new colour coil coating production line, enhance operational efficiency, and establish our presence in Peninsular Malaysia. Guided by quality, precision, and innovation, we are committed to creating lasting value for our stakeholders while contributing to Malaysia’s infrastructure development,” said Kang Ket Hung, Managing Director of Colform Group Berhad.
Source: Berita Harian
