UMS Integration seeks secondary listing on Bursa

PETALING JAYA: Singapore-listed UMS Integration Ltd has applied to the Securities Commission (SC) for a proposed secondary listing on the Main Market of Bursa Malaysia.

In a filing on the Singapore Exchange, the Mainboard-listed semiconductor firm said the proposed secondary listing is intended to be undertaken by way of introduction and does not involve any offering of shares.

“The company has submitted an application to the SC on Dec 31, 2024 to seek its approval for, amongst others, the proposed secondary listing. The proposed secondary listing remains subject to the final approvals of the relevant authorities, including the SC.”

In an announcement to the Singapore bourse in July 2024, the company said the secondary listing would allow the group to broaden its investor reach and widen its investor base.

It said the proposed secondary listing will potentially improve the liquidity of the company’s shares through separate trading platforms and enable it to tap into additional platforms for future fund raising and provide it with the flexibility to access different equity markets to raise funds to support the group’s growth.

“The group has recently acquired more than five acres of industrial land in Penang. Growing its manufacturing footprint in Malaysia, which has an established semiconductor eco-system, is one of the group’s strategic business goals in the region.

“UMS has appointed the relevant professional advisers which include, among others, the principal adviser, the Malaysia and Singapore counsels as well as the financial adviser to commence preparatory work on the proposed secondary listing.”

UMS is in the business of front-end semiconductor equipment contract manufacturing and is also involved in complex electromechanical assembly and final testing of devices.

The products it offers include modular and integration systems for original semiconductor equipment manufacturing. Other industries that it also supports include electronics, machine tools and oil and gas.

The past few months have seen several foreign companies expressing their interest to list on the Malaysian stock exchange.

In November, Hong Kong-listed Unity Group Holdings International Ltd announced that it was planning a secondary listing on Bursa Malaysia.

In a statement, the energy services company said the initiative aligned with its ongoing development in Malaysia and the recent strategic partnership with one of the largest banks in the country to support local government projects.

“This initiative reinforces our objectives and sustainability commitments by unlocking new opportunities, enhancing shareholder value, and strengthening the group’s long-term vision of fostering a positive environmental impact through energy efficiency,” it said.

Meanwhile, in September, Singapore-listed Grand Venture Technology Ltd announced that it was in discussions for a potential secondary listing of its shares on the Main Market of Bursa Malaysia. In June 2021, OM Holdings Ltd became the first Australian Securities Exchange public listed company with a secondary listing on Bursa.