SELANGOR, 4 November 2025 – Malaysia’s leading energy logistics operator, Orkim Berhad (“Orkim”), has taken another major step toward its Main Market debut on Bursa Malaysia Securities Berhad with the signing of a retail underwriting agreement involving CIMB Investment Bank Berhad, RHB Investment Bank Berhad, and Affin Hwang Investment Bank Berhad.
The agreement paves the way for Orkim’s initial public offering (IPO), expected to take place before the end of 2025, which will position the Group for its next phase of strategic growth in Malaysia’s maritime and energy logistics sector.
A Pillar in Malaysia’s Energy Supply Chain
Orkim and its subsidiaries are principally engaged in the ownership, chartering, and operation of vessels, as well as shipping management, freight contracting, and marine transport services. With a modern fleet comprising 16 clean petroleum product (CPP) tankers and two liquefied petroleum gas (LPG) tankers, the Group plays a crucial role in supporting Malaysia’s energy security—transporting fuel and LPG products across both domestic and regional routes.
Structure of the IPO
Orkim’s IPO will involve the issuance of 400 million ordinary shares, consisting of 300 million existing shares offered for sale and 100 million new issue shares.
- Institutional Offering:
A total of 372 million shares (37.2% of the enlarged share capital) will be made available to Malaysian and foreign institutional investors, as well as selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). - Retail Offering:
The remaining 28 million new shares (2.8% of the enlarged share capital) will be offered to the Malaysian public and Orkim’s directors, employees, and contributors. Of this, 10 million shares will be reserved for Bumiputera applicants, while 8 million shares will be allocated to eligible individuals linked to the Group.
Confidence in Growth and Operational Excellence
Captain Cheah Sin Bi, Executive Director and Chief Executive Officer of Orkim, said the signing marks an important milestone in the Group’s journey toward public listing.
“The signing of the retail underwriting agreement marks another important step in Orkim’s transformation journey. It reflects the strong confidence our partners have in Orkim’s fundamentals and growth outlook,” he said.
“As we prepare for our listing, our focus remains on operational excellence, disciplined growth, and strengthening our position as a trusted name in Malaysia’s maritime and energy logistics sector.”
Captain Cheah also expressed his appreciation to the underwriting banks for their trust and partnership in Orkim’s listing process.
Endorsements from Underwriting Partners
Nor Masliza Sulaiman, CEO of CIMB Investment Bank Berhad, said the IPO represents an important milestone for a homegrown company with strong fundamentals.
“We are proud to support Orkim’s IPO on its maiden voyage to the Main Market, a significant step forward for one of Malaysia’s leading energy logistics operators,” she said.
“Having been nurtured by Ekuiti Nasional Berhad and now under Permodalan Nasional Berhad’s stewardship, Orkim exemplifies disciplined execution, resilient cash flows, and tangible asset strength.”
Kevin Davies, CEO of RHB Investment Bank Berhad, added that Orkim’s established track record and expansion plans demonstrate its readiness for public markets.
“Orkim has a resilient business model and a clear growth strategy. We are honoured to support them on this important milestone,” he said.
Hishamuddin Hud Ibrahim, COO of Affin Hwang Investment Bank Berhad, echoed similar confidence in the Group’s operational excellence.
“With over 17 years of experience in marine transportation for clean petroleum products, Orkim exemplifies excellence and commitment to safety. We look forward to a successful IPO that delivers lasting value to all stakeholders.”
Principal Advisory Roles
CIMB Investment Bank Berhad acts as Principal Adviser, Joint Bookrunner, Managing Underwriter, and Joint Underwriter for the IPO. RHB Investment Bank Berhad serves as Joint Bookrunner and Joint Underwriter, while Affin Hwang Investment Bank Berhad is appointed as Joint Underwriter.
Strategic Path Forward
With its planned listing on Bursa Malaysia’s Main Market, Orkim aims to broaden its capital base, strengthen its fleet renewal programme, and enhance its competitiveness across Malaysia’s maritime logistics value chain. The IPO will further reinforce the Group’s position as a national energy transport champion, aligned with Malaysia’s vision for secure and sustainable energy logistics infrastructure.
