Wed, 17 Jul 2024

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Sabah developer KTI listed on Bursa’s ACE Market
Published on: Wednesday, June 19, 2024
By: David Thien
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Sabah developer KTI listed on Bursa’s ACE Market
KTI successfully listed on Bursa's ACE Market on July 19, 2024. (KTI pic)
Kota Kinabalu: KTI made its debut on the ACE Market of Bursa Malaysia Securities Berhad on Wednesday morning.

The Company had successfully raised RM48.0 million in its initial public offering exercise to partly fund its acquisition of land for development amounting to RM18 million. 

Of the proceeds, RM20.7 million will be allocated as working capital for project development and RM0.3 million to upgrade software and systems. 

A sum of RM2.2 million will be used to upgrade and expand its existing casting yard or IBS facility, followed by RM3.0 million for repayment of bank borrowings and the remaining RM3.8 million for its estimated listing expenses. 

To date, KTI has delivered projects with a total GDV of RM1.2 billion, of which RM1.0 billion from the provision of design and build construction projects while the remaining RM207.6 million from its own property development projects. 

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