TURBO MECH Listing on Main Market April 30th

Turbo-Mech Bhd, a regional distributor of rotating equipment for the oil, gas and petrochemical industry, yesterday launched its prospectus for its listing on the Main Market of Bursa Malaysia on April 30. The exercise involves a public issue of 18.068 million new ordinary shares of RM0.50 each at an issue price of RM0.63 per share. "We are a regional supplier of rotating equipment including centrifugal pumps, metering pumps, steam turbines, industrial cooling fans and spare parts," he said at the launch of the prospectus in Kuala Lumpur yesterday. "We plan to open a workshop in Jakarta, Indonesia, a sales office in Balik Papan, East Kalimantan, Pekan Baru, Indonesia, and a fabrication yard in Rayon, Thailand," he said. At present, the company has subsidiaries in Singapore, Indonesia and the Philippines; associated companies in Malaysia, Brunei and Thailand; and a representative office in Vietnam.  (BTimes)

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