KUALA LUMPUR: Infrastructure solutions provider PMW International Bhd is eyeing major state-led projects in East Malaysia including the Sarawak–Sabah Link Road (SSLR), the Miri–Marudi–Long Lama Road (MMLL Road), the Sarawak Coastal Road network and the Tanjung Embang deep-sea port to strengthen supply capacity and better serve East Malaysia’s growing infrastructure demand.
Executive director and CEO Lee Hon Hwa pointed out that a significant portion of the national budget has been allocated for Sabah and Sarawak.
“And the projects that we are eyeing in Sarawak will be the SSLR, MMLL Road, Sarawak Coastal Road, as well as the upcoming Tanjung Embang, deep sea port as well as airport,“ he told a press conference after the company’s listing today.
Lee said PMW is currently in negotiations with several infrastructure and telecommunications firms to extend their existing lines. “The order book stands at about RM130 million at the moment. From there, we can expand further,” he said, adding that the group is positioning itself for mid-term industry growth.
He said the timeline for PMW’s new 29-acre Tanjung Manis facility in Sarawak remains on track, with further updates to be provided in due course. Once completed, the plant will increase PMW’s production capacity by 55.67%, making it the group’s largest facility.
Lee noted a surge in demand for power distribution, driven by the increased electricity needs of data centres in Malaysia. “For telecommunications, with the upcoming second 5G network, there are a lot of connectivity requirements and many networks need to be upgraded,” he said.
PMW’s key clients include Tenaga Nasional Bhd-linked contractors involved in power distribution works, as well as telecommunications companies and tower operators that purchase monopoles and related structures.
The group also serves construction and infrastructure contractors undertaking civil works and utility upgrades. In addition, PMW supplies local authorities with lighting poles and related products for public infrastructure projects.
PMW’s margins are influenced by cement and steel prices, but said, it manages cost volatility through procurement planning and efficiency measures.
The company’s shares opened flat at 34 sen on its first day of trading, matching its initial public offering (IPO) price. At the opening bell, a total of 13.85 million shares were traded. The counter closed at 34.5 sen, half a sen higher than the IPO price.
Based on PMW’s enlarged issued share capital of 892,051,816 Shares and the IPO price of RM0.34 per share, the company’s total market capitalisation is about RM303.3 million. The group raised RM60.66 million from its IPO, of which 77% will go towards constructing the Tanjung Manis facility. Another 0.96% is allocated for new machinery and equipment to support its moulds and spun poles and piles operations, while the remainder will be used for working capital and listing expenses.
PMW Group is principally involved in the design, manufacturing, and sale of prestressed spun concrete poles, piles, and related concrete products such as 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.
KAF Investment Bank is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.
