ACE Market-bound Sin-Kung Logistics to raise RM26m from IPO

Sin-Kung Logistics directors and executives at the launch of the company’s IPO prospectus. – BernamapicIntegrated logistics service provider Sin-Kung Logistics Bhd expects to raise RM26 million from its initial public offering en route to a listing on the ACE Market of Bursa Malaysia on May 15.

“The Valdor warehouse, a built-to-suit warehouse, will provide more storage space to our existing five warehouses to serve more and larger orders from both our existing customers and potential customers, boosting the revenue of our warehousing and distribution services moving forward,” said Ong during the company's prospectus launch today.

“The total cost of the 100 commercial vehicles are estimated at RM8 million. We intend to allocate RM2 million of the proceeds for the purchase of commercial vehicles and the balance of RM6 million will be funded from our internally-generated funds and/or bank borrowings,“ it said in the prospectus.

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