CMC Group plans to go for listing within two years

KUALA LUMPUR: CMC Group Sdn Bhd, an engineering company that provides telecommunication facilities for transportation projects, is enroute for listing within two years.
CEO Hazwan Alif Abdul Rahman said the company was building its profile and actively bidding for projects, locally and overseas, to create investor confidence.
"Our order book currently stands at RM500 million and we are continuously bidding for projects in Indonesia, Vietnam and Saudi Arabia, as well as, locally," he told reporters after signing up for Bank Islam's Investment Account Platform via a restricted investment account (RIA) here yesterday.
Zamani said the RIA was targeted to secure an investment of RM12 million to part-finance CMC Group's RM23 million telecommunication integration project for the Ho Chi Minh Urban Railway System Line 1.
He said the expected returns for potential investors would be 6.3 per cent per annum with a minimum investment amount of RM5,000.
As the sponsoring bank for the transaction, Bank Islam would underwrite the unsubscribed portion of the RIA should it not be fully subscribed.
"RIA is a new asset class which provides better returns to investors as compared with normal deposits.
"It provides a new avenue for investors especially high net worth individuals or angel investors to diversify their investment portfolio," he added.
Meanwhile, Mohamed Izam said IAP Integrated is optimistic that it can achieved RM300 million financing raised through the IAP on the back greater awareness on the benefit of the platform from public and companies.
He said the platform has raised about RM20 million financing last year and for the first half of this year, a total financing of more than RM70 million is planned to be raised.
Investment Account Platform facilitates shariah-compliant investment, enabling potential investors to find viable projects or ventures to invest in and, in return, provide the much needed funding for companies to realise those projects or ventures. – Bernama