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Tuju Setia to raise RM56mil from Main Market listing


The construction company is slated to be listed on the Main Market on May 19.
Managing director Wee Eng Kong said RM32 million of the proceeds will be allocated for capital expenditure to purchase new construction machinery and equipment, and Building Information Modelling (BIM) system software to upskill its design and construction activities.
Tuju Setia is also planning to acquire land and construct new storage facilities for its machinery and equipment and improve the efficiency of maintenance works.
Speaking to reporters at the launch of its prospectus today, Wee said a further RM19 million will be set aside for working capital and RM5 million to defray listing expenses. ....

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