LATEST NEWS   The digital economy will be a key driver in achieving Malaysia’s quality investment targets in 2026 - Tengku Zafrul | MIDA anticipates more quality-driven investments that will generate meaningful spillover towards the Malaysian economy under the New Incentive Framework - Tengku Zafrul | As of Feb 10, 2026, a total of RM5.4 billion in refunds had been made for the 2023 year of assessment, involving 38,629 cases - Amir Hamzah | The MADANI govt settled 2023–2025 tax refund payments of RM56 bln, 50 per cent higher than the RM37 bln recorded for 2020–2022 — Amir Hamzah | As of Feb 11, 2026, more than 14.6 million people have benefited from subsidised RON95 prices under BUDI95 - Amir Hamzah | 
BUSINESS • 05/05/2025 11:34 AM

Ace Market Debutant West River Aims Production Boost By Next Three Years

KUALA LUMPUR, May 5 (Bernama) -- West River Bhd, a provider of mechanical and electrical (M&E) engineering services, plans to boost its production capacity with a new facility expected to be completed within three years as part of its post-initial public offering (IPO) expansion strategy.

Its managing director Lim Yong Lai said the company is also open to accelerating the timeline by acquiring ready-built factories, depending on market conditions.

He said the company initially plans to purchase land, obtain the necessary approvals, and proceed with construction.

“However, we are also open to the option of acquiring ready-built factories, which would shorten the timeline.

“It really depends on the market availability of land and suitable buildings, and we are working on both options,” he said during a press conference in conjunction with its listing ceremony today.

At 9 am, the company debuted on the ACE Market of Bursa Malaysia at 39.5 sen, a premium of half a sen over its IPO price of 39 sen, with 37.91 million shares traded.

Currently, Lim said about 80 per cent of their revenue comes from Klang Valley, and they are eyeing to expand outside of Klang Valley areas such as Penang, Johor, and Melaka in the next three years.

“Currently, we have two projects in the northern region, one in Langkawi and another hotel project in Penang. The hospitality sector there is booming, and more hotel developments are being planned.

“In Johor, we are tendering for several data centre-related projects, and our focus is on both regions, Penang for hospitality and Johor for data centres,” he said.

He said that overall by value, about 13 per cent of their tender book is related to data centres, totalling around RM1 billion.

When asked about its dividend policy, Lim said the company have not finalised its dividend policy yet as it is still in expansion mode, and most of the funds will be reinvested for growth rather than distributed to shareholders.

“But I think we may introduce a dividend policy after two to three years down the road,” he added.

-- BERNAMA

 

 

More News

Categories

Tags