KUALA LUMPUR: En route to be listed on the ACE Market of Bursa Malaysia, PMW International Bhd is charting a bold path forward with its upcoming Tanjong Manis facility in Sarawak, an investment that underscores the company’s long-term growth ambitions and strategic vision.
“Our Tanjong Manis factory, set for completion in the fourth quarter of 2027, marks a significant milestone for PMW International. This new facility is expected to increase our group’s total manufacturing capacity by more than 50%, enabling us to meet the growing demand in Sarawak and Sabah for infrastructure and to serve industries such as foundation, telecommunications, power and lighting across East Malaysia.
“This development represents the culmination of years of planning and reinvestment, with 77% of our IPO proceeds dedicated to building this modern facility,“ executive director and CEO Lee Hon Hwa told reporters at the launch of the prospectus for the company’s initial public offering (IPO) today.
Located in central Sarawak along the river, the new site offers distinct logistical advantages – enabling PMW International to efficiently receive raw materials and distribute finished products via river transport.
Lee said the choice of Tanjong Manis was no coincidence, explaining that the area is rapidly emerging as a key industrial hub, expected to host 11 new cement factories in the near future.
“Being at the heart of this growing ecosystem gives us a strong strategic edge. It strengthens our operational capacity and positions PMW International at the centre of Sarawak’s industrial transformation,“ he said.
Lee acknowledged that PMW International’s expansion into Sarawak is very much aligned with the momentum the company is seeing in the domestic construction sector. The company’s new Sarawak factory expansion plans align with both federal and state development agendas.
Sarawak’s state budget for 2025 alone allocates RM1 billion for road and bridge upgrades and RM4 billion for infrastructure projects, including the Sarawak Coastal Road.
Given the region’s challenging soil conditions, PMW International’s concrete piles and precast elements play a crucial role in supporting elevated roads and ensuring structural stability.
Lee also noted that policies announced in Budget 2026 are expected to drive significant infrastructure and development projects across Sabah and Sarawak.
“We believe our new facility will be well-positioned to support and benefit from this growth. The increase in project volume presents a timely opportunity for PMW International to strengthen our presence and contribute to the region’s economic progress,” he said.
PMW International designs, manufactures and sells prestressed spun concrete poles, piles and related concrete products, including decorative poles, monopoles and square piles.
The group also manufactures moulds, machinery, metal products and lighting products through its subsidiaries.
Its products serve the power transmission and distribution, telecommunications, infrastructure, lighting and construction industries in Malaysia and abroad.
The group operates multiple manufacturing facilities in Perak and Sabah and exports to regional and international markets.
PMW International aims to raise RM60.66 million through the issuance of 178.41 million shares at an IPO price of 34 sen per share.
Based on the company’s enlarged issued share capital of 892.05 million shares and the IPO price, PMW International’s market capitalisation will be about RM303.3 million.
Proceeds from the IPO will be channelled towards supporting PMW International’s business expansion.
Of the total, 77% has been earmarked to finance the construction of the Tanjung Manis facility, and 0.96% will be allocated for the purchase of new machinery and equipment to support moulds, spun poles and piles operations.
The balance will be applied towards general working capital and listing-related expenses.
“PMW International has grown from our factories in Ipoh, delivering to nationwide projects, subsequently establishing our first East Malaysia concrete pole plant in Sabah in 2007, and Sarawak in 2012, which proved to be a visionary decision, laying our foundation in East Malaysia.
“We have been serving our overseas clients for almost two decades, covering the Middle East, North America, Europe, Africa and Southeast Asia.
“In recent years, PMW has served the US, Saudi Arabia, Poland, Nigeria, Bulgaria, and Oman, showing proof of global customers recognising the quality of PMW International,“ Lee said.
He also noted that the company, in 2022, established an additional plant in Ipoh serving customers with increasing demands, and in 2024, expanded into solar LED, LED lighting and smart lighting – embracing the shift towards energy efficiency and smart technology.
“Post-IPO, our focus is to continue growth, to strengthen our East Malaysia operations, expand production capacity, in meeting the increasing demand for PMW International’s products across East Malaysia, in serving our customers better, enhancing project deliverables, and to support the backbone of Malaysia’s infrastructure development,“ Lee said.
KAF Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
