Hartanah Kenyalang Berhad IPO's Analysis

Hartanah Kenyalang Berhad

Hartanah Kenyalang Berhad is principally focuses on building construction services through its subsidiaries, Hartanah Construction, particularly institutional buildings like schools and other public buildings, as well as non-residential buildings. Additionally, it provides infrastructure construction services with a focus on bridges and roads in East Malaysia. As a registered CIDB G7 and SPKK G7 contractor, Hartanah undertakes high-value public sector projects, including collaborations with government-linked companies. Hartanah was incorporated in 2023 and headquarters in Kuching, Sarawak, Malaysia.

IPO Details
Market: ACE
Principal Adviser: TA Securities Holdings Berhad
Issuing House: Malaysian Issuing House (MIH)
Shariah Status: SC (Yes)
Listing Price: 0.16
PE Ratio: 10.81
    PE (FYE): 10.81
    PE (FPE Annualised): -
    PE (Hybrid): -
MITI allocation?: Yes
Closing Date: 27-May-2025
Balloting Date: 29-May-2025
Listing Date: 09-Jun-2025
Oversubscription rate: 5.33x
Average Analysts FV :
Mplus (0.22), Public Invest (0.22), Mercury (0.20), RHB (0.23)
iSaham IPO Score :
Market Cap: 99.20 M
Number of Shares: 620.00 M
IPO Allocations No. of Shares %
Malaysian Public 31.00 M 5.0%
Bumiputera shareholders approved by MITI 77.50 M 12.5%
Eligible Directors and employees 18.6 M 3.0%
Private placement to selected investors and others 71.3 M 11.5%
Total Allocations 198.40 M 32.0%

Offer for Sales of 77.50 M existing shares representing 12.5% enlarged shares.

Public Issue of 120.90 M new shares representing 19.5% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Purchase of machineries and IT related hardware and software 3,000 15.5
Working capital Project working capital 10,494 54.2
Listing expenses Defray fees and expenses relating to our Listing 3,750 19.4
Debt Repayment of borrowings 2,100 10.9
Total 19,344 100
Analyst Highlights
Date Analyst Highlights
20-May-2025
Public Invest
  • Expanding design and build services through Building Information Modelling (BIM) investment.
16-May-2025
Mplus
  • HKB is growing its design-and-build services, offering end-to-end solutions.
Utilisation of Proceeds
Business Segments
Major Customers
Profit After Tax (PAT) by Financial Year Ended
SWOT Analysis
No Available Pro Insight yet
Hartanah Kenyalang Berhad's Latest News