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Reports Malaysia

Malaysia stock market and companies daily report (June 02, 2014)

June 2, 2014, Monday, 05:28 GMT | 01:28 EST | 09:58 IST | 12:28 SGT
Contributed by Shares Investment

Icon Offshore To Raise RM1b From IPO

- Enroute to a listing on the Main Market of Bursa Malaysia on 25 June, Icon Offshore is targeting to raise about RM1 billion through its initial public offering (IPO).

- The largest pure-play offshore support vessel (OSV) provider is also one of the largest in Southeast Asia in terms of number of vessels at 32. It has announced an indicative retail price of RM1.85 per share with the sale of up to 510.8 million ordinary shares of RM0.50 each.

- The company will be utilising approximately RM410.2 million of the proceeds from the IPO for fleet expansion and repayment of bank borrowings.

Significance: The robust Malaysian and Southeast Asian oil and gas industry outlook will underpin the strong demand for OSVs moving forward, providing a strong potential for growth in the industry.

Uchi Unveils RM15m Investments

- Uchi Technologies is spending about RM15 million for the development of new inverter technology and laboratory equipment, targeting buyers in Europe. The equipment is expected to take delivery in 2015.

- The company is developing a new range of inverters for use in the laboratory equipment that are able to optimise power consumption more efficiently.

- Uchi said it will be spending 7 percent of its revenue for research and development and will raise the headcount for the department.

Significance: Uchi expects the laboratory equipment business to start contributing to its top line by next year and plans to extend the inverter application to other product lines.

Sunway’s Healthcare Arm Aims To Expand Regionally

- Sunway Medical Centre, the healthcare arm of the property developer Sunway, is adding two new hospitals to its property projects in the country.

- Capitalising on higher demand for healthcare in Indonesia, Sunway Medical is in on-going talks with certain institutions in Indonesia to further strengthen its international presence.

- The healthcare provider has also recently received full accreditation from the Australian Council on Healthcare Standards that has provided a good platform for regional expansion.

Significance: Currently, international patients revenue contribution stands at 5 percent. However, Sunway aims to achieve 15 to 20 percent contribution from this segment in three years’ time.