PETALING JAYA: Ban Lee Hin Engineering and Construction Sdn Bhd is eyeing a 2027-2028 initial public offering in anticipation of a stronger market then.
Chairman Datuk Tony Looi said it is pushing its listing timeline from 2026 to 2027-2028 because of the challenging operating environment and the need for greater market stability before going public.
“We were supposed to list in 2026. But we postponed this plan. The last two years, we needed time to observe the economy. Then we looked at the whole market, the global market. It’s not good timing for construction. So, we have postponed it to 2027 or 2028,” he told SunBiz in an interview.
Looi said the domestic construction sector is under pressure with weaker investor sentiment and rising costs. “Currently in Malaysia, the construction sector is facing a lot of challenges … because now the global economy is slowing down, so building material cost is increasing a lot.”
Ban Lee Hin’s order book has shrunk compared with previous years, when projects could reach RM160 million each year and annual turnover stood at around RM200 million. Now, the pace of new work has slowed.
“So orders have slowed down a bit. Because our clients were mostly foreign investors and developers such as Japanese, Koreans and Europeans. Now, the construction boom in Kuala Lumpur is led mainly by the Chinese, and this has not translated into more work for us.” Looi explained.
Even with the slowdown, he is hopeful that recovery will take shape. “So Malaysia has slowed down. But even Japan is facing economic problems. Hopefully, end of this year, we’ll be slowly moving up.”
Looi stressed that survival in the current market depends on financial discipline and working with reliable partners.
“So hopefully, we look for good paymasters. That’s the m
ost important thing. How to survive during tough times. So we need good paymasters,” he said, referring to clients with strong financial standing who can ensure timely payments.
At present, Ban Lee Hin is focusing on selected projects, with ongoing jobs in Selangor, Kuala Lumpur and Shah Alam, while recently completing developments in Johor and Malacca.
“Currently, we’re just surviving on our current projects. It’s still okay,“ Looi said.
Beyond construction, the group is diversifying into new ventures, including online food and beverage and green energy projects. It has acquired land in Johor and Malacca worth over RM10 million for future developments.
Looi disclosed that the firm is studying opportunities in Cambodia and Thailand, which offer more favourable conditions compared with Malaysia. In Cambodia, for example, property ownership rules and tax exemptions for new businesses provide incentives for expansion.
“Maybe we will invest in some overseas projects in the coming future. So, we will form a new office in Cambodia or Thailand,” he said.
