U.S. Markets open in 53 mins.

MALAYSIA-PRESS-Berjaya boss plans to exit Caring Pharmacy-Business Times




German firm Implico eyes listing on Bursa-Malaysian Reserve

German company Implico GmbH is eyeing a listing on Bursa Malaysia by middle of 2014 in order to raise its profile and to source for capital to fund future acquisitions in the down-stream oil and gas (O&G) sector.

The Hamburg-based privately held O&G solutions provider and consulting company is also considering Singapore or Hong Kong for the listing but likes Kuala Lumpur (KL) as the city is the hub for O&G for the region.

"One of the main reasons for listing is that most of our clients (and potential Asian customers) are listed and they would prefer to deal with service providers like Implico to be equally adhered with the requisite disclosures and transparency of being a listed company," said Implico (M) Sdn Bhd director Anthony Lim Chong Eng in an email interview with The Malaysian Reserve recently.

The listing would also give the company a capital boost to fuel Implico's acquisition plans of related businesses in the downstream O&G industry.-Malaysian Reserve


NOTE: Reuters has not verified this story and does not vouch for its accuracy.