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Benalec Holdings Bhd, an integrated marine construction and vessel chartering services provider, made a strong debut on Bursa Malaysia’s Main Market with a 36 sen premium over its offer price of RM1 per share.

At the opening bell, a total of 8.6 million Benalec shares were traded.

“We are happy with the (opening) share price of RM1.36 and feel quite confident of doing much better in future,” managing director Leaw Seng Hai said at a press conference after its listing ceremony yesterday.

Benalec shares ended at RM1.34 on a volume of 101 million units and a market capitalisation of RM978.2 million.

The company has raised some RM100 million from the exercise.

Benalec is the second company to be traded on the Main Market this year with both companies showing a healthy premium debut.

Maxwell International Holdings Bhd – a Chinese-based sport shoemaker – was listed first, gaining 4.6 per cent at the opening bell from its offer price of 54 sen per share. It ended its maiden day at 56.5 sen.

Elaborating on its operations, Leaw said Benalec is in the midst of obtaining the building and construction authority licence from the Singapore government to enable it to bid for land reclamation projects in the republic.

“Hopefully, we can get the licence within the next one to two months. At present, our concentration is more on our projects in Penang, Malacca and Johor. We also plan to explore more overseas projects in the future,” he added.

The company currently has an orderbook of RM855 million. Of this, about RM664 million is in unbilled orders that will last it until 2016. It is said to hold an 18 per cent share of the marine construction market.

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Samchem Holdings Bhd has received approval from the Securities Commission to list on the Bursa Malaysia main board.

In a statement, the industrial chemical distributor said it expected to be listed by the second quarter of this year.

According to Samchem, the listing exercise will give the group an opportunity to position its businesses in the local and regional markets.

“We are extremely pleased with the approval for listing, even in the midst of a challenging economic environment,” said managing director Ng Thin Poh.

Ng said Samchem had built a strong marketing and distribution arm in Malaysia, extending from the southern to the northern region, as well as in Sabah and Sarawak.

“This has enabled the group to establish a clientele base of more than 2,500 across a wide range of industries to date,” he said. – Bernama

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