M&A Securities is underwriter for HSS Engineers's IPO

KUALA LUMPUR: HSS Engineers Bhd has signed up M&A Securities Sdn Bhd as the underwriter for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
M&A Securities will also act as HSS principal adviser, sponsor, and placement agent for the IPO, which Bursa Malaysia approved on June 1.
HSS executive director and co-founder Datuk Kunasingam V. Sittampalam said the group has been successful in securing a continuous stream of jobs, built on long-term relationships with clients backed by its involvement in the construction of infrastructure projects and buildings around Malaysia.
HSS's proposed IPO involves a public issue of 63.82 million new shares of 10 sen each, comprising 15.95 million issue shares available for application by the public, 7.98 million issue shares for application by eligible directors, employees and business associates, as well as 39.89 million issue shares allocated for private placement to selected investors.
The listing exercise will also involve an offer for sale of 31.91 million existing shares available for private placement to selected bumiputra investors.
"Over the 30 years that we have been in this business, we have been constantly looking for new ways to improve our services and offerings. We were one of the first in the country to begin offering 2D design to 3D design in the mid 1990s, allowing us to further grow our client base. We are proud to call ourselves Malaysia’s engineering DNA,” Kunasingam said in a statement.
HSS, through its subsidiaries and associates, is primarily involved in providing engineering design services, construction supervision, project management as well as Building Information Modelling, or BIM, services.
The group currently operates across a wide range of the construction sector, which include urban infrastructure, road and highways, bridges, airports, ports and harbours, railways and metro systems, building and structures, power generation and distribution, water resources and supply, and sewerage and public health. It has three main offices – Kuala Lumpur and Penang in Malaysia, and Chennai in India – with local customers as well as international clients in places such as India and the Middle East.