Sin-Kung inks IPO underwriting deal with M&A Securities
KUALA LUMPUR: Sin-Kung Logistics Bhd has entered into an underwriting agreement with M&A Securities Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

In a statement, the integrated logistics service provider said the IPO entails a public issue of 200 million new shares and an offer for sale of 103.5 million existing shares.

Of the public issue, 60 million new shares will be made available to the Malaysian public via balloting, 45 million shares for its eligible directors, employees and persons who have contributed to its success under pink form allocations, while the remaining 95 million shares are reserved for private placement to bumiputra investors approved by the International Trade and Industry Ministry.

M&A Securities will underwrite a total of 105 million new shares available to the Malaysian public and pink form allocations.

According to the statement, Sin-Kung Logistics is principally involved in the provision of trucking services with a focus on airport-to-airport road feeder services covering airports across Peninsular Malaysia, Singapore and Thailand.

The company also provides container haulage services, warehousing and distribution services, licensed brokerage and forwarding services, express delivery services and cargo escort services to its customers.

Currently, Sin-Kung Logistics owns and operates approximately 460 commercial vehicles for the provision of its trucking, container haulage, warehousing and distribution as well as other logistics-related businesses.
Corporate News
KUALA LUMPUR: Sin-Kung Logistics Bhd has entered into an underwriting agreement with M&A Securities Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.