KUALA LUMPUR (Oct 28): Powertechnic Group Bhd (KL:POWER) is looking at implementing a dividend policy once its finances are strong enough for a sustainable payout post-listing.
The intention is to pay out at least 30% of its annual net profit as dividends, though the crane-and-hoist company does not have a policy in place for now, Powertechnic managing director Ivan Na Keh Cha told reporters following the company’s listing on ACE Market on Tuesday.
“We are really looking forward to this application,” Na said. “The management will always review and decide based on the company’s performance, if the time is right, and we have the capacity, we will reward our shareholders.”
Based in Kulai, Johor, Powertechnic installs and maintains crane and hoist systems including overhead, gantry, underhung and jib cranes, as well as elevated platform systems such as dock leveller, table lifters, and tilting platform.
More than 80% of its annual revenue in the past two years came from provision of lifting systems, while maintenance, repair and related services account for the rest. The company made a net profit of RM6.3 million, on revenue of RM40 million in the 12 months ended June 2024.
The intention on dividend distribution was also spelled out in the prospectus of its initial public offering (IPO) that raised RM29.4 million, of which RM22.05 million went to Powertechnic for expansion and operations.
The remaining RM7.35 million accrues to Na and executive director Choo Chee Yong.
TA Securities is the IPO’s principal adviser, sponsor, underwriter and placement agent.
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