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April 2009 Industrial chemical distributor Samchem Holdings signs underwriting agreement with RHB Investment Bank and MIDF Amanah Selangor, 24 April 2009: Industrial chemical distributor Samchem Holdings Berhad has formalised an underwriting agreement with its financial adviser, managing underwriter, underwriter and placement agent, RHB Investment Bank (‘RHB’), the Corporate and Investment Banking arm of the RHB Banking Group, and its underwriter, MIDF Amanah Investment Bank Berhad (‘MIDF Amanah’). This is in line with Samchem’s impending listing on the Main Board of Bursa Malaysia Securities Berhad (‘Bursa Malaysia’). “ Given the current economic challenges, we are proud to structure the first IPO for the year, a major highlight in the capital markets for 2009. By listing the company, the Samchem Group is taking a big step forward in making this IPO a significant milestone in its corporate history,” said Dato Abdullah Mat Noh, Chairman of RHB Investment Bank, who represented RHB at the signing ceremony. “Under the listing structure which is based on a minimum and maximum subscription basis, Samchem will enjoy the minimum proceeds of Ringgit Malaysia 11 million from Public Issue whilst being able to enjoy further upside potential in its IPO that allows the Company to raise additional proceeds of up to Ringgit Malaysia 4.1 million if there is strong demand from the investing public,” Dato Abdullah added. The underwriting agreement was signed by Chay Wai Leong, Managing Director of RHB Investment Bank, Ng Thin Poh, Managing Director of Samchem Holdings Berhad, and Dato' Megat Hisham Megat Mahmud, Chief Executive Officer of MIDF Amanah . Samchem distributes three categories of industrial chemicals, namely polyurethane (“PU”) chemicals, intermediate and specialty chemicals, which are sourced from global petrochemical corporations including ExxonMobil, Shell, BASF Petronas and Optimal Chemical. At present, Samchem distributes more than 400 types of industrial chemicals to more than 2,500 customers from a diverse range of industries. “Samchem has grown by leaps and bounds in the past 20 years since our inception. Most notably, we have expanded our distribution rights across a wide product range, and now count numerous world-renowned petrochemical corporations not merely as suppliers, but rather as global partners. This listing exercise would enhance our profile in no small way, and propel us towards increasing our distribution rights even further in the future,” said Ng. Ng attributed the Group’s success to its proven track record as well as its strict compliance to international Health, Safety and Environment (“HSE”) regulations in handling industrial chemicals. Said Ng: “We believe that our adherence to HSE requirements has played a major role in our ability to build long-term relationships with global petrochemical corporations, as well as help us maintain a ready and consistent supply to our customers. “In fact, we have effectively established ourselves as a leading industrial chemicals distributor with supply chain solutions to our customers, which entails an integrated service offering beyond marketing, logistics and storage services to include customized and exclusive mixing and blending, inventory management and extended technical support. “This is further supported by our strong local network, where our widespread presence throughout the country would ensure prompt delivery and superior technical support to our customers,” continued Ng. Barring unforeseen circumstances, Samchem expects to be listed by the second quarter of 2009. Media Contacts: For SMACHEN: About Samchem Holdings Berhad (www.samchem.com.my) About the RHB Banking Group (www.rhb.com.my) It’s time we simplify banking.  |
