KUALA LUMPUR (Aug 20): M&A Securities Sdn Bhd, a unit of M&A Equity Holdings Bhd (KL:M&A), will be underwriting the initial public offering (IPO) of Johor-based construction company SLGC Bhd.
In a statement, SLGC said it has inked an underwriting agreement with M&A Securities, which is also the principal adviser, sponsor, and placement agent of its upcoming IPO. The listing is expected to take place in October.
SLGC’s IPO involves the issuance of 105 million new shares and the sale of 63 million existing shares.
Of the new shares, 28 million will be made available to the Malaysian public, while two million are to be allocated to eligible directors and employees of the company. M&A Securities will underwrite these 30 million shares.
SLGC managing director and largest shareholder Yong Zhen Lin said proceeds from the IPO will be used to support the company’s initiatives, such as the purchase of construction equipment and machinery, the repayment of bank loans and general working capital.
“These plans are aimed at enhancing our operational efficiency, reducing reliance on rented equipment, and strengthening our competitiveness in securing and executing higher-value projects,” Yong said.
Established in 2009, the company began as a subcontractor in Johor before expanding to Melaka, Negeri Sembilan, Selangor and Kuala Lumpur. Its portfolio comprises various commercial, industrial and residential buildings, including warehouses, factories and schools.
SLGC is registered with the Construction Industry Development Board as a Grade G7 contractor, allowing it to take projects of any size and unlimited tender value within Malaysia.
The company made a net profit of RM16 million for the financial year ended Dec 31, 2024, on a revenue of RM229.6 million. Its outstanding order book as of October 2025 stood at RM1.29 billion.