KUALA LUMPUR (Aug 18): OGC Group Bhd has filed for an ACE Market listing as the construction firm seeks fresh capital for expansion and operations.

The proposed listing comes about six years after husband-and-wife team Ling Kin Huo and Ling Ee established the business, according to its draft prospectus filed with Bursa Malaysia. Part of the initial public offering (IPO) proceeds has been earmarked for the purchase of machinery and vehicles.

On its shopping list are a wheel loader, a batching plant, four dump trucks, four excavators and six mixer trucks. OGC currently owns 14 excavators and seven trucks.

"These purchases will also allow us to have better control over the availability and utilisation of our fleet, thereby minimising potential downtime and reducing our reliance on third-party machinery rentals," the company said. "In return, this is expected to enhance our overall operational efficiency and optimise our project margins."

Ling co-founded OGC with his wife in August 2020 to expand their construction operations and tender for larger projects. Before setting up OGC, Ling joined The Builder, a sole proprietorship owned by his wife, as construction manager in 2019.

He was subsequently promoted to general manager and was responsible for its overall business operations. The Builder primarily undertook smaller construction projects before the couple established OGC to pursue larger jobs.

OGC also plans to use part of the IPO proceeds for working capital as funding requirements are expected to increase with the expansion of its construction activities. The group currently has 16 ongoing projects with about RM173.26 million in remaining revenue to be recognised.

The company has also tendered for or submitted proposals for additional construction jobs. "Such tenders, if successful, are expected to further increase our order book and, consequently, our working capital requirements," OGC said.

The proposed IPO also includes an offer for sale of existing shares by Ling, whose stake in OGC will be diluted to 70% post-listing.

OGC's profit after tax more than doubled to RM7.25 million for the financial year ended Oct 31, 2025 (FY2025) while revenue grew at a slower pace of about 17% to RM81 million, as certain projects and newer jobs carried higher margins.

M&A Securities is the principal adviser, sponsor, underwriter and placement agent for the proposed listing.