Chinese firms attracted by Malaysian stock market
Chinese companies find t increasingly attractive to list at the Bursa Malaysia, as Kanger International, a bamboo flooring maker shows. Kanger is poised to be the 10th China stock to list on Bursa Malaysia and also intends to set up a research and development plant in Malaysia upon listing.
Chief executive officer and managing director Leng Xingmin said that the company already had a joint-venture unit with Forest Research Institute Malaysia since 2010 and that the collaboration would be further expanded with Kanger’s plant here.
“We would be using a portion of our initial public offering proceeds to set up the plant. I believe there is a market for bamboo flooring and our upcoming wall panels, as more people demand green products in their homes,” Leng said according to a report in The Star.
It intends to use 10 per cent of its IPO proceeds for research and development, 5 per cent for capital expenditure, 41 per cent for working capital, 27 per cent for repayment of borrowings and the balance for the listing exercise.
The local plant will house Kanger’s research on local bamboo species similar to those in China that Kanger uses as raw material for its semi-finished flooring products.
Unlike the other China stocks listed in Malaysia thus far, Kanger wants to position itself as a company with tangible ties to Malaysia. It has been involved in technology transfer before.
“We are not a company that’s coming in to raise money from investors to fund far-away operations back in China. We have collaborated with Malaysians before and would continue to do so,” Leng said.
Kanger already has a manufacturing plant in Ganzhou, China, and another raw material manufacturing plant in Yanshan, China.
Chinese companies find t increasingly attractive to list at the Bursa Malaysia, as Kanger International, a bamboo flooring maker shows. Kanger is poised to be the 10th China stock to list on Bursa Malaysia and also intends to set up a research and development plant in Malaysia upon listing. Chief executive officer and managing director Leng Xingmin said that the company already had a joint-venture unit with Forest Research Institute Malaysia since 2010 and that the collaboration would be further expanded with Kanger’s plant here. “We would be using a portion of our initial public offering proceeds to set up...
Chinese companies find t increasingly attractive to list at the Bursa Malaysia, as Kanger International, a bamboo flooring maker shows. Kanger is poised to be the 10th China stock to list on Bursa Malaysia and also intends to set up a research and development plant in Malaysia upon listing.
Chief executive officer and managing director Leng Xingmin said that the company already had a joint-venture unit with Forest Research Institute Malaysia since 2010 and that the collaboration would be further expanded with Kanger’s plant here.
“We would be using a portion of our initial public offering proceeds to set up the plant. I believe there is a market for bamboo flooring and our upcoming wall panels, as more people demand green products in their homes,” Leng said according to a report in The Star.
It intends to use 10 per cent of its IPO proceeds for research and development, 5 per cent for capital expenditure, 41 per cent for working capital, 27 per cent for repayment of borrowings and the balance for the listing exercise.
The local plant will house Kanger’s research on local bamboo species similar to those in China that Kanger uses as raw material for its semi-finished flooring products.
Unlike the other China stocks listed in Malaysia thus far, Kanger wants to position itself as a company with tangible ties to Malaysia. It has been involved in technology transfer before.
“We are not a company that’s coming in to raise money from investors to fund far-away operations back in China. We have collaborated with Malaysians before and would continue to do so,” Leng said.
Kanger already has a manufacturing plant in Ganzhou, China, and another raw material manufacturing plant in Yanshan, China.
