KUALA LUMPUR, May 20 – Siab Holdings Berhad (“Siab”) has announced plans to raise approximately RM103.98 million through private placement and rights issue with warrants. These funds will facilitate the acquisition of Taghill Projects Sdn. Bhd. (“Taghill”), a construction project and contract management consultancy company, further solidifying Siab’s position in Malaysia’s construction industry. M & A Securities Sdn. Bhd. (“M & A Securities”) and NewParadigm Securities Sdn. Bhd. (“NewParadigm”) will underwrite the RM91.98 million rights issue with warrants.
This strategic move aligns with Siab’s growth strategy, enhancing its market presence and capabilities. Taghill’s robust order book, valued at RM1.31 billion, and profit guarantee underscore its potential contribution to Siab’s expansion plans. Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad, expressed enthusiasm for the integration, highlighting the synergy between Siab and Taghill. With the support of financial advisors like Eco Asia Advisory Sdn. Bhd., Siab aims to leverage Taghill’s expertise for sustained growth.
M & A Securities and NewParadigm echoed their commitment to Siab’s success, emphasizing the significance of the acquisition in seizing opportunities in Malaysia’s dynamic construction sector. With the Malaysian Government’s focus on infrastructure development, Siab’s acquisition of Taghill positions the company to support ambitious national initiatives in 2024.
