PMW International To Fast-track Sarawak Expansion After Ace Market Debut

KUALA LUMPUR, Nov 18 – PMW International Bhd is set to accelerate its expansion plans in Sarawak following its ACE Market listing, driven by the group’s confidence in strengthening its manufacturing and infrastructure capabilities.

At 9 am, PMW International debuted on the ACE Market of Bursa Malaysia at 34 sen, unchanged from its initial public offering (IPO)  price, with 13.85 million shares traded.

Its executive director and chief executive officer, Lee Hon Hwa, said the company is looking forward to embarking on its next phase of growth with the opening of its new manufacturing facility in Tanjung Manis, Sarawak.

"We will definitely move on to the commencement of our factory in Tanjung Manis, and this is one of the most rewarding accomplishments for PMW," he told a press conference in conjunction with its listing ceremony here today.

Lee said the project remains on schedule and the company hopes to accelerate its progress, adding that an announcement on the updated timeline for Tanjung Manis will be made in due course.

Commenting on the outlook of Malaysia's construction industry, he said the industry remains vibrant, with East Malaysia also experiencing strong infrastructure growth driven by federal and state initiatives. 

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He highlighted significant Sarawak government investments in major road, utility and connectivity projects such as the Sarawak Coastal Road and the Sarawak–Sabah Link Road (SSLR).

“PMW is well-positioned to tap into these opportunities and play a meaningful role in supporting the region’s continued development,” he said.

He added that the company is seeing a strong demand in the power distribution and telecommunications infrastructure segments.

“There is a surge in demand for power distribution. With the increased capacity of data centres in Malaysia, power consumption has increased.

“For telecommunications, with the upcoming second 5G network, there are a lot of connectivity requirements and a lot of networks need to be upgraded,” he added.

Lee said the company is currently engaged in negotiations with several infrastructure and telecommunications firms to extend their existing lines, noting that this will provide a platform for further expansion, with PMW targeting mid-term growth across related industries.

– BERNAMA