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 New IPO: Leon Fuat Bhd, Main market contender?

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TShyzam1212
post Feb 14 2013, 01:36 PM, updated 11y ago

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Deserved a new thread...Uploaded on MITI

The group established it's first business entity in early 1970's and continues as a vibrant and independent steel processing centre and distributor of steel products. Over the years, we have developed expertise which now places us as one of the industry leaders in the cutting, shearing and distribution of steel material.

http://www.sc.com.my/main.asp?pageid=1173

http://www.leonfuat.com.my/

Less than RM1 but plan to be listed on the main market...Another Hiap Huat siblings ?
TShyzam1212
post Apr 25 2013, 04:41 PM

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QUOTE(homeandry @ Apr 22 2013, 02:11 PM)
Why I can't download the prospectus? Anyone with this issue?
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Normally the 1st draft is for limited time viewing only...just wait for the announcement

QUOTE(fiqir @ Apr 24 2013, 11:01 AM)
but the offer only 60sen per share.  good offer or not?

seem not so many interested.  wink.gif
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The price is quite ok...the hype is not there yet...GE fever nowadays...Its MITI application coincided with Ranhill, maybe more went for Ranhill

QUOTE(xuexueli @ Apr 24 2013, 03:30 PM)
is it already available to the public... ????
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Not yet...so many in the pipeline with MITI, wait after may 5th and we can see the clear pic
TShyzam1212
post May 13 2013, 04:33 PM

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Timetable for IPO

LEON FUAT BERHAD

Opening of application 13/05/2013
Closing of application 23/05/2013
Balloting of applications 28/05/2013
Allotment of IPO shares to successful applicants 04/06/2013
Tentative listing date 05/06/2013


TShyzam1212
post May 14 2013, 09:31 AM

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KUALA LUMPUR: Steel trading and processing company Leon Fuat Bhd, en route to a listing on the Main Market of Bursa Malaysia, plans to raise up to RM35.58mil from the sale of 59.31 million new shares at 60 sen each.

Of all shares, 33.81 million would be placed out to selected investors, 15.5 million offered to the public and the balance 10 million offered to eligible directors and staff.

The initial public offering would also involve an offer for sale of up to 31 million shares to approved bumiputra investors.

Leon Fuat executive director Calvin Ooi said the company would pay up to 30% of earnings in dividends each financial year subject to cash position and expansion or investment plans.

Ooi said at the launch the company's IPO prospectus that of the gross proceeds raised, RM13mil would be used to partly repay the bank borrowings to purchase new industrial land with building located opposite its headquarters in Shah Alam, while RM6mil would be utilised to build a processing plant, with warehousing facilities on the land. The processing plant was expected to be completed by 2016.

Of the remainder, RM6mil would be used to purchase new machines, RM7.8mil for working capital and RM2.8mil for listing expenses.

According to chief financial officer Tan Kien Yap, the company's net gearing would be pared down to 0.67 times from 0.92 for the financial year ended Dec 31, 2012 after the repayment of part of its borrowings.

Ooi said the company planned to improve margins by increasing the steel processing business with the addition of two new slitting machines by 2016.

“We are trying to diversify the products that we offer to the market,” he said, adding that the two new machines that it intended to invest in, for instance, would allow it to penetrate new markets through the new products produced.

Ooi added that the company would strive to expand in both local and overseas markets.

Currently, 98% of revenue comes from the domestic front while 2% is from overseas markets including countries such as Japan, Singapore, Indonesia and Thailand.

Ooi said the company would continue to explore ways to improve the ratio between the local and overseas market contributions but did not specify how or where the company would do this as it was focusing on the domestic market.

The majority of Leon Fuat's customers cut across various industries including construction, automotive and manufacturing small-medium enterprises.

It markets carbon, stainless and alloy steel as well as long and flat steel products, besides undertaking different steel processing operations.

Ooi is positive on the company's outlook on the back of the country's robust economic prospects and demand from government-linked initiatives, including the Economic Transformation Programme-related projects.

http://biz.thestar.com.my/news/story.asp?f...16&sec=business


TShyzam1212
post May 21 2013, 07:11 PM

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QUOTE(fiqir @ May 21 2013, 02:51 PM)
non syariah if not mistaken.
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Officially dh mention ke by SC? but this only same like other previously like HiapHuat etc

QUOTE(masterjedi @ May 21 2013, 06:31 PM)
ini syarikat apa bisnes?
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This company involves in steel trading and processing...

http://www.leonfuat.com.my/products-services.html
TShyzam1212
post May 24 2013, 04:38 PM

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Unfortunately, I cant find the published TA Securities report on the net for this IPO...From the hearsayers, the TP is only 0.57 due to high gearing, not very good if the proceeds were planned to settle the borrowings...thats why for the low TP
TShyzam1212
post May 29 2013, 10:16 PM

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Lucky me...got some, dont give up guys
TShyzam1212
post May 29 2013, 10:20 PM

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QUOTE(fiqir @ May 29 2013, 10:18 PM)
maybank? or cimb ? orthers? . me still pending maybank..
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the one and only yellow tiger
TShyzam1212
post Jun 1 2013, 01:03 PM

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This is the nearest IBs reports on the focussed sector for reference...the docs were written last year though

http://research.osk188.com/attachments/17/...6a49ec29e90.pdf

http://upload.xinhua08.com/2012/0914/1347607826447.pdf

http://www.icapitaleducation.biz/?section=5&sub=3

Credit to My Investism Blog

This post has been edited by hyzam1212: Jun 1 2013, 01:05 PM
TShyzam1212
post Jun 5 2013, 08:47 AM

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not sure...such a low key coverage despite d price...not encouraging at all at the time of writing...everybody can buy at the price of ipo

This post has been edited by hyzam1212: Jun 5 2013, 08:51 AM
TShyzam1212
post Jun 5 2013, 12:07 PM

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QUOTE(minshome @ Jun 5 2013, 10:24 AM)
y no research report on this?
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i also wonder...dump all d...

 

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