KUALA LUMPUR, 28 October 2025 — Pre-stressed concrete manufacturer PMW International Berhad has officially launched its Initial Public Offering (IPO) prospectus, marking a major step toward its proposed listing on the ACE Market of Bursa Malaysia Securities Berhad on 18 November 2025.
The company aims to raise RM60.66 million through the issuance of 178.41 million new ordinary shares at RM0.34 per share, valuing PMW at an estimated market capitalisation of RM303.3 million upon listing.
Expanding Capacity to Meet Infrastructure Demand
According to the prospectus, 77% of IPO proceeds will fund the construction of a new manufacturing facility in Tanjung Manis, Sarawak, while 0.96% will go toward purchasing new machinery and equipment. The balance will be allocated for working capital and listing-related expenses.
PMW Group is a leading producer of pre-stressed spun concrete poles, piles, and related reinforced concrete products, supplying the power transmission, telecommunications, infrastructure, and construction industries. The company also produces moulds, machinery, metal components, and lighting products through its subsidiaries.
It operates manufacturing facilities in Perak and Sabah, exporting to regional and international markets.
Strategic Positioning in East Malaysia
Executive Director and Chief Executive Officer Lee Hon Hwa said the listing underscores PMW’s three-decade-long foundation of expertise in Malaysia’s infrastructure sector.
“Our proposed listing on the ACE Market marks not only a milestone but also a testament to over three decades of dedication and proven expertise,” Lee said.
“We are ready to embark on the next stage of growth by establishing a new facility in Tanjung Manis, Sarawak. This expansion allows us to leverage our technical expertise and strengthen our competitive position in the state.”
Lee added that East Malaysia’s infrastructure investments, particularly under Budget 2026, present significant opportunities.
Sabah and Sarawak will receive RM6.9 billion and RM6 billion in federal development allocations, respectively, to support major highway, connectivity, and utility projects such as the Pan Borneo Sabah Highway and Sarawak–Sabah Link Road (SSLR).
“The new facility positions us to tap into the state’s growing infrastructure demand by supplying spun poles and piles essential for these projects,” he said.
Riding the National Infrastructure Wave
Lee noted that Malaysia’s nationwide infrastructure expansion, spanning telecommunications, electrification, and 5G rollout, will continue to drive long-term demand for PMW’s concrete products.
“The continued development of Malaysia’s public utilities industries, supported by strong federal initiatives, continues to drive demand for concrete products,” he said.
“The nationwide rollout of 5G networks, fibre optics, and the electrification of Malaysia’s rail system also presents long-term opportunities for us.”
“With the proceeds raised from our IPO, PMW is well-positioned to capture these growth opportunities and deliver sustainable value to our stakeholders,” he added.
IPO Details
- IPO size: 178,411,000 new shares
- Issue price: RM0.34 per share
- Estimated proceeds: RM60.66 million
- Market capitalisation: RM303.3 million
- Listing date: 18 November 2025
- Application period: 28 October – 6 November 2025 (5:00 p.m.)
- Principal Adviser, Sponsor, Underwriter & Placement Agent: KAF Investment Bank Berhad
