Tri-Mode System Bhd an integrated logistics service provider in Malaysia, recently signed an official underwriting agreement with TA Securities Holdings Berhad and Kenanga Investment Bank Berhad for its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
TA Securities will act as the Company’s Principal Adviser, Sponsor, Managing Underwriter, Joint Underwriter and Placement Agent while Kenanga is the Joint Underwriter for the IPO. In addition, ZJ Advisory Sdn Bhd has been appointed as the Financial Adviser for this listing exercise.
The company had received an approval from Bursa Securities for the IPO on January 15.
Tri-Mode group managing director, Datuk Hew Han Seng believed that becoming a listed company will provide them with the needed financial strength and increased market awareness to achieve their business objectives.
“We are excited to embark on this new phase in our corporate journey.
“We are also pleased to have TA Securities, Kenanga and ZJ Advisory come on board with us to ensure that the IPO progresses smoothly,” he said.
Tri-Mode commenced business in 1992 by providing sea freight services. Tri-Mode today provides sea freight, container haulage, air freight, freight forwarding, warehousing and marine insurance services.
Tri-Mode’s clientele mainly consists of local and multinational companies, and importers and exporters from various industries, which include among others, textiles, insulation materials, paper and plastic products, gloves, building materials, automotive parts, packaging materials, rubber products, furniture, home and electronic appliances, chemical products and edible oils.