The Group is now obtaining all necessary approvals. The prospectus will be issued on June 30 and the listing of shares is targeted for July 19, the company said in its filing.
MHCL Group of Companies comprises Manta Engineering And Equipment Company Ltd; Manta Equipment Rental Company Ltd; Manta Equipment Services Ltd; and Manta Equipment (Singapore) Pte Ltd.
The first three companies are owned by Manta Far East Sdn Bhd (about 88%), Pan Ocean International Ltd (12%) and Mulpha Trading Sdn Bhd, which owns one share.
For Manta Equipment (Singapore) meanwhile is 88%-owned by Mulpha Trading, while the remaining 12% is owned by Pan Ocean International Ltd.
Manta Far East is a wholly owned subsidiary of Mulpha Trading, which is in turn a wholly owned subsidiary of MIB.
MIB’s principal activities are owning and operating hotels and service apartments. Other activities include property development and investment, as well as trading and rental of construction equipment.
MIB also operates as an investment holding company.
Its operations are carried out in Malaysia, Australia, Hong Kong, China, Singapore and Vietnam.
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