Pasukhas to diversify into property, coal trading

PETALING JAYA: Pasukhas Group Bhd proposes to diversify into property development and coal trading segments.
The group will also undertake a special issue of up to 116.06 million new shares, representing 12.5% of its enlarged issued share capital to Bumiputera investors to be identified and/or approved by the Ministry of International Trade and Industry.
Currently Pasukhas is involved in mechanical & electrical engineering service; manufacture of low voltage switchboards; trading of equipment mainly in distribution, power and converter transformers; engineering and construction activities.
It told Bursa Malaysia that by having multiple sources of income, the group will be able to reduce its reliance on its existing business in particular the construction industry.
“Through the additional streams of income, the proposed diversification is expected to contribute positively to the group’s financial performance and in turn, improve its shareholders’ value.”
Meanwhile, assuming an issue price of 12 sen per share, the proposed special issue is expected to raise gross proceeds of up to RM13.93 million, which will be used to fund future business projects/investments in the energy utilities services and power generation business segment.
The group's share price closed unchanged at 13 sen, with some 10,000 shares changing hands.