KUALA LUMPUR: Integrated palm oil milling services provider Ecoscience International Bhd (EIB) has obtained the approval to be listed on the ACE Market of Bursa Malaysia.
EIB managing director Wong Choi Ong said that over the past 17 years, the company has established a track record in undertaking various construction projects for the palm oil industry.
"We take pride in our capability in providing one-stop solutions to major oil palm plantation and palm oil mill owners, especially with our in-house fabrication capabilities, which allows us to customise solutions based on our customers' specifications and requirements," he said in a statement today.
With a history dating back to 2004, EIB is a one-stop solution provider and turnkey contractor for the construction of palm oil mills and facilities, supported by its in-house capabilities in fabricating the palm oil milling equipment.
Other complementary services offered include the supply of materials, equipment and spare parts, and maintenance services.
EIB has amassed more than 17 years of experience in the industry with projects in Gabon, Malaysia, Indonesia, Liberia and India.
The company has completed the construction of palm oil mills, palm oil refineries, biodiesel plants, biomass and biogas plants and upgraded existing palm oil mills.
Besides that, EIB has built supporting facilities for the operations of palm oil mills, including workers' quarters, laboratory, office and school, to name a few.
Its wholly-owned subsidiary, Ecoscience Manufacturing & Engineering Sdn Bhd, is a Grade 7 contractor registered with the Construction Industry Development Board (CIDB).
"Listing on the ACE market will enable EIB to tap into the equity capital market to raise funds and embark on the next phase of our corporate journey.
"The listing proceeds will provide the necessary war chest to accelerate our expansion plans," Wong said.
EIB targets to be listed by the third quarter of 2022.
Hong Leong Investment Bank Bhd is the principal adviser, sponsor, underwriter and placement agent for EIB's initial public offering exercise.