SLGC Bhd debuts on ACE Market at its IPO price of 28 sen

SLGC Bhd, a provider of building construction and design-and-build services, began trading on the ACE Market at 28 sen, exactly the price set in its initial public offering. Managing director Yong Zhen Lin described the listing as a new chapter that gives the firm a stronger platform for sustainable growth and heightened accountability to shareholders. The company, which has evolved from a subcontractor to a main contractor across several Malaysian states, holds an unbilled order book of about RM1 billion.

Proceeds from the RM29.4 million IPO will fund machinery purchases, debt repayment, software upgrades, working capital and listing costs. Going forward, SLGC aims to deliver its current contracts and capture new industrial construction opportunities, leveraging its design-and-build expertise.