The Shinyou Holdings ACE Market listing plan was reported by The Star on Oct 20. The company wants fresh cash for expansion, working capital and new projects.
Why Is Shinyou Holdings Pursuing an ACE Market Listing?
Shinyou has installed more than 800 elevators, escalators and travelators across Malaysia’s property sectors. It also provides maintenance and repair services for those systems.
East Malaysia is the next target. The company plans a branch office in Kota Kinabalu, Sabah, where it currently services about 20 elevators through appointed sub-contractors.
Who Runs Shinyou Holdings and Who Owns It?
Co-founder and managing director John Kuan is trained as an engineer. He started his career in 2001 at MS Elevators Engineering Sdn Bhd, now known as Toshiba Elevator (Malaysia) Sdn Bhd.
Datuk Matthew Tee Kai Woon, an executive director of Bina Puri Holdings Bhd (KL:BPURI), holds a 76% stake in Shinyou before the IPO.
Shinyou sources its elevator, escalator and travelator systems from Lincoln Elevator (China) Co Ltd and Fuji-Sino Elevators Co Ltd. Both are based in China, so two overseas suppliers are central to its project delivery.
What Will the Shinyou Holdings ACE Market Listing Fund?
There is no offer-for-sale of existing shares. Current shareholders are not selling any of their stake under the IPO.
The new cash is needed for:
- Participating in tenders
- Covering mobilisation costs
- Posting performance bonds
- Purchasing systems from brand principals
Shinyou says its financing facilities are sufficient for current working capital. It still intends to reduce its use of financing facilities to cut interest expenses.
Is Shinyou’s RM58 Million in Jobs on Hand Enough to Fund Growth?
Shinyou holds nearly RM58 million of jobs on hand. These will be progressively billed until 2028.
Winning new tenders requires upfront cash for mobilisation and performance bonds. That makes the listing proceeds directly tied to future project wins.
What IPO Details Are Still Missing?
The report does not give the offer price, number of shares offered, total funds to be raised, subscription dates or tentative listing date. Berjaya Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent.
Oversubscription data and the financial track record (revenue, profit and EPS) are also absent. Without an offer price, valuation against listed peers cannot be worked out.
Key risks to note:
- Dependence on tender wins and upfront cash for bonds
- Reliance on two China-based suppliers
- Use of sub-contractors for East Malaysia servicing
How Can Malaysian Investors Apply for the Shinyou IPO?
Online IPO applications require a direct CDS account in the applicant’s own name. Only one application per IPO is allowed, as multiple applications are an offence under the Capital Markets and Services Act 2007.
Apply through the M+ Global app using Invitation Code UBZQ. For assistance, WhatsApp +60169059789.
New to IPOs? Read our IPO Investing with M+ Global guide.
Disclaimer: This article is for information only and is not a recommendation to buy, sell or hold any stock. Do your own research and read the full prospectus before deciding on any IPO.
Key Takeaways
- Shinyou Holdings seeks an ACE Market listing to fund expansion, working capital and new projects.
- No offer-for-sale means existing shareholders are not cashing out.
- Nearly RM58 million of jobs on hand are billed progressively until 2028.
- Offer price, IPO size, subscription dates and listing date are not in the report.
- Shinyou’s tender-dependent jobs and China-based suppliers are worth monitoring.
Frequently Asked Questions
Which market is Shinyou Holdings listing on?
Shinyou Holdings is seeking a listing on the ACE Market of Bursa Malaysia. Berjaya Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the proposed listing.
How much will Shinyou Holdings raise in its IPO?
The report does not disclose the total funds to be raised, the offer price or the number of shares offered. The company says the money will go to tenders, mobilisation costs, performance bonds and purchases of systems from brand principals.
Is there an offer-for-sale in the Shinyou Holdings IPO?
No. There is no offer-for-sale of existing shares, so current shareholders are not cashing out. Datuk Matthew Tee Kai Woon holds a 76% stake in Shinyou before the IPO.
How do I apply for the Shinyou Holdings IPO?
Applications need a direct CDS account in your own name, and only one application per IPO is allowed. Use the M+ Global app with Invitation Code UBZQ, or WhatsApp +60169059789 for help.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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