By Donavan Lim
Focus on high-end landed housing
Sysma Holdings Limited, a Singapore-based company, today launched its initial public offering (the IPO) of 18,000,000 shares (Placement Shares) at S$0.28 each in conjunction with its listing on the SGX’s Catalist board. The offering is by way of placement only.
The company is principally engaged in providing building construction services to the private sector in Singapore and is typically appointed as the main contractor for its projects. Over the last 25 years, the company has built a diverse track record and has undertaken more than 140 projects for buildings encompassing residential, commercial, heritage and conservation, institutional, industrial and educational institutions.
The company’s current focus is on building high-end landed housing (especially Good Class Bungalows) and undertaking and executing addition and alteration works on landed and other properties in Singapore which emphasise high quality furnishings and fittings. To date, the company has constructed more than 105 bungalows in Singapore, of which 29 are in Sentosa Cove.
The application list will close at 5 pm on 1 August 2012. The Placement Shares will, when issued and fully paid, rank pari passu in all respects with the existing ordinary shares in the capital of the Company.
Trading in the company’s shares on the Catalist board is expected to commence at 9.00 am on 3 August 2012. CIMB Securities (Singapore) Pte Ltd together with DMG & Partners Securities Pte Ltd are the Joint Placement Agents. CIMB Bank Berhad, Singapore Branch, is the introducing sponsor of the IPO.
Mr Sin Soon Teng, Executive Chairman and Chief Executive Officer of Sysma, said: “Our construction business can be traced back to 1986. Through the years, we have built a reputation for undertaking projects from residential to commercial and even conservation buildings. As a result, our Group has grown both in terms of stature and capability, consistently handling projects of higher value which sometimes pose construction challenges and complexities. For the financial year ended 31 July 2011, the Group’s revenue and profit after tax are approximately S$54.8 million and $5.3 million respectively.”
Please watch out for our exclusive interview with Mr Sin in our Monday edition next week.