IPO Insights

Orkim Berhad

Orkim Berhad is an owner-operator of marine vessels, specifically product tankers and LPG tankers, providing marine transportation services for Clean Petroleum Products (CPP) and Liquefied Petroleum Gas (LPG). The company's principal activities, conducted through its subsidiaries, involve owning, chartering, and operating these vessels, as well as managing shipping property, freight contracting, and transport business. Its primary market is Malaysia, facilitating cargo transport along coastal routes and to neighboring Asian countries like Singapore. The fleet is crucial to Malaysia's energy supply chain, transporting refined products such as gasoline, diesel, and jet fuel from refineries to distribution points. The company also engages in shipbroking and provides third-party ship management services.

IPO Details
Market: Main
Principal Adviser: CIMB Investment Bank Berhad
Shariah Status: SC (Yes)
Listing Price: 0.92
PE Ratio: 9.9-11.4
    PE (FYE): 9.9
    PE (FPE Annualised): 10.44
    PE (Hybrid): 10.83
    PE (Latest Qtr): 11.4
MITI allocation?: Yes
Closing Date: 26-Nov-2025
Balloting Date: 01-Dec-2025
Listing Date: 09-Dec-2025
Oversubscription rate: 11.84x
Average Analysts FV*:
TA (0.94), Mplus (1.16)
iSaham IPO Score***:
Market Cap: 920.00 M
Number of Shares: 1,000.00 M
IPO Allocations No. of Shares %
Malaysian Public 20.00 M 2.0%
Bumiputera shareholders approved by MITI 50.00 M 5.0%
Eligible Directors and employees 8.0 M 0.8%
Private placement to selected investors and others 322.0 M 32.2%
Total Allocations 400.00 M 40.0%

Offer for Sales of 300.00 M existing shares representing 30.0% enlarged shares.

Public Issue of 100.00 M new shares representing 10.0% enlarged shares.

Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Purchase of Vessels 80,000 87
Working capital Working capital 1,150 1.2
Listing expenses Defray fees and expenses for our IPO and our Listing 10,850 11.8
Total 92,000 100
Utilisation of Proceeds
SWOT Analysis

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