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Monday, March 27, 2017

Advancecon gets SC nod for Main Market debut

By Adam Aziz / | March 27, 2017 : 5:16 PM MYT

KUALA LUMPUR (March 27): Advancecon Holdings Bhd is targeting to debut on Bursa Malaysia’s Main Market by mid-2017, after having received the nod to do so from Securities Commission, the company announced today.

Advancecon’s initial public offering (IPO) will feature RHB Investment Bank Bhd as the principal adviser, underwriter and placement agent, the earthworks and civil engineering services specialist said in a statement.

“In the past 27 years, our group has successfully established a strong track record in completing projects on time and built a reputation for delivering quality earthworks and civil engineering services.

“Our proposed listing on the Main Market will surely chart a new phase in our growth story, and prepare the Group to take advantage of the tremendous opportunities within the construction sector going forward,” said Advancecon group CEO Datuk Phum Ang Kia.

Founded in 1990, Advancecon is primarily involved in the provision of earthworks and civil engineering services in Malaysia, as well as related support services such as the sale of construction materials, the hiring of machinery, and ad-hoc general construction services.

Advancecon’s portfolio includes participation in various township developments such as Setia EcoHill, Setia Eco Gardens, Eco Majestic and Tropicana Aman, as well as infrastructure projects like the Trumpet Interchange and the Ecohill link at LEKAS Highway.

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