From left: Plytec technical director Edward Han Liang Kwang, KAF Investment Bank Bhd CEO Rohaizad Ismail, Plytec chairman Tan Sri Dr Ahmad Tajuddin Ali, Yang, Kenanga Investment Bank corporate and institutional coverage head Leong Yew Loong and Tay at the prospectus launch.
The company, which is also a trading and building materials distributor, plans to use RM9 million from the IPO for the repayment of borrowings, RM8 million for capital expenditure and RM7.8 million for the construction of factories as well as centralised labour quarters on its land at Olak Lempit.
“We are looking forward to venture upstream into building manufacturing facilities for temporary works equipment and consolidating our support facilities on the prime Olak Lempit land, which occupies over 801,000 sq ft,” he told during a press conference after the launch of Plytec’s prospectus.