Saliran Group Berhad (referred to as "Saliran") is a company focused on providing pipelines, accessories, flanges, and Steel products for the Oil & Gas industry, primarily serving the processing, refining, refurbishment, renovation, and maintenance of existing facilities and infrastructure.
The company's business covers new construction and renovation projects, with some custom-made accessories and flanges produced to complement its sales of Other Products. From fiscal year 2021 to 2023, the contribution rates of supply and distribution business were 96.90%, 97.32%, and 98.48% respectively, with management viewing manufacturing as a "supplementary business" rather than a focus.
Saliran recently announced its initial public offering (IPO) plan, intending to list on the GEM of Malaysia Securities Exchange. The IPO is priced at 0.27 Ringgit per share (10.42 times PE), with plans to issue 80,400,000 new shares, expecting to raise approximately 21,710,000 Ringgit.
The raised funds will be used for multiple purposes:
  ·       General operating funds: 8.37 million Ringgit (approximately 38.6%)
  ·       Repayment of bank loans: 7 million Ringgit (approximately 32.2%)
  ·       Establishing a sales office in Indonesia: 1.2 million Ringgit (approximately 5.5%)
  ·       Purchase of Machinery and Transportation trucks: 1.44 million Ringgit...

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