04/06/2025

BIZ & FINANCE WEDNESDAY | JUNE 4, 2025

15

Kenanga launches global real asset fund

Enproserve, KAF Investment Bank sign underwriting deal

CYBERJAYA: Mec h a ni ca l a nd c ivil e n g in ee rin g se rvi ce provid e r for t h e oil & gas (O&G) a nd p et ro c h e mi ca l indu st ri es Enpro se rv e Group Bhd s i g n e d a n und e r w ri t in g ag r ee m e n t w i t h KAF Inv est m e n t B a nk Bhd for i ts propo se d ini t i a l pu b li c off e rin g (IPO) exe r c i se on t h e ACE Ma rk et of Bur sa Ma l ays i a Sec uri t i es Bhd . Th e IPO exe r c i se e n ta il s a pu b li c i ss u e of 210 million n ew ordin a r y s h a r es (pu b li c i ss u e s h a r es ) a nd a n off e r for sa l e of 105 million ex i st in g ordin a r y s h a r es. Of t h e 210 million pu b li c i ss u e s h a r es, 139 , 1 8 4 , 000 w ill be a llo cate d t o se l ecte d inv est or s vi a priv ate pl ace m e n t, 52 , 500 , 000 vi a a ppli cat ion by t h e Ma l ays i a n pu b li c by way of ba llo t in g, a nd 1 8, 316 , 000 r ese rv e d for a ppli cat ion by t h e e li g i b l e dir ect or s, e mplo yees a nd p e r s on s w ho h a v e c on t ri b u te d t o t h e s u ccess of Enpro se rv e. Th e 105 , 000 , 000 s h a r es und e r t h e off e r for sa l e w ill be a llo cate d t o se l ecte d inv est or s t hrou g h priv ate pl ace m e n t. Pur s u a n t t o t h e und e r w ri t in g ag r ee m e n t, KAF Inv est m e n t B a nk w ill und e r w ri te a t o ta l of 7 0 ,8 16 , 000 pu b li c i ss u e s h a r es t o t h e Ma l ays i a n pu b li c vi a ba llo t in g a nd t o e li g i b l e dir ect or s, e mplo yees, a nd p e r s on s w ho h a v e c on t ri b u te d t o t h e s u ccess of t h e g roup . Th e c omp a n y s p ec i a li ses in Pl a n t Ma in te n a n ce & Turn a round (P M T) , En g in ee rin g, Pro c ur e m e n t, Con st ru ct ion , a nd Commi ss ionin g (EPCC) se rvi ces, as we ll as r e n t in g

h ea v y lif t in g e quipm e n t a nd v e hi c l es. I t prim a ril y se rv es Ma l ays i a ’ s do w n st r ea m oil & gas a nd p et ro c h e mi ca l indu st ri es, w i t h s om e involv e m e n t in t h e up st r ea m a nd mid st r ea m sect or s. Th e IPO pro cee d s w ill be u se d prim a ril y for ca pi ta l ex p e ndi t ur e t o e nh a n ce Enpro se rv e ’ s ca p ac i ty a nd ca p ab ili t i es in P M T , EPCC se rvi ces a nd r e n ta l of h ea v y lif t in g e quipm e n t a nd v e hi c l es. A por t ion of t h e pro cee d s w ill a l s o be a llo cate d t o w orkin g ca pi ta l r e quir e m e n ts, r e p ay m e n t of ba nk b orro w in gs, a nd d e fr ay in g li st in g ex p e n ses. Enpro se rv e m a n ag in g dir ect or Azm a n Yu s of sa id : “Our IPO i s t h e n ext ste p in our ex p a n s ion pl a n , providin g u s w i t h ca pi ta l t o e nh a n ce our ca p ac i ty a nd ca p ab ili t i es t o ca p t ur e s i g nifi ca n t g ro wt h oppor t uni t i es. Th e s i g nin g of t h e und e r w ri t in g ag r ee m e n t t od ay b rin gs u s c lo se r t o li st in g on t h e ACE Ma rk et of Bur sa Sec uri t i es. H e a dd e d t h at t h e fund s r a i se d w ill be mo st l y u se d for pro c urin g n ew m ac hin e r y, e quipm e n t, a nd v e hi c l es, w hi c h w ill for t if y t h e ir ca p ab ili t i es t o ta k e on l a r ge r jo bs a mid in c r eas in g m a rk et d e m a nd . KAF Inv est m e n t B a nk CEO Roh a iz a d I s m a il sa id t h ey a r e honour e d t o pl ay a n in st rum e n ta l rol e in Enpro se rv e ’ s e ffor ts t o ta p in t o t h e ca pi ta l m a rk et t o e n e r g i se i ts fu t ur e a nd r eac h g r eate r h e i g h ts. B a rrin g unfor esee n c ir c um sta n ces, t h e g roup ta r gets t o be li ste d in t h e t hird qu a r te r of 2025 .

medium-term investment horizons. The fund’s core strategy involves investing primarily in ETFs linked to a diverse array of real assets. This includes sectors such as real estate, precious metals and commodities. By diversifying across these areas, Kasgraf helps to mitigate risk while enhancing the potential for returns. The Fund is available for subscription in MYR with a minimum initial investment amount of RM1,000. Gax MD managing director and CEO Ronnie Tan explained that the ETFs allow investors to access a diverse range of asset classes including real estate, commodities and precious metals, without the high costs and complexities of direct ownership. For optimal selection, he added the fund’s strategy follows a rigorous screening process based on key factors such as liquidity, expense ratios and tracking efficiency. “By combining data-driven analysis with a structured ETF selection process, the strategy maximises efficiency while maintaining flexibility to adapt to evolving market conditions. At Gax MD, we are excited to contribute to the success of Kasgraf and its investors, empowering them to navigate the complexities of the market with confidence,” said Tan.

o Kasgraf is an open-ended retail product focused on steady growth via international physical holdings and selected ETFs

KUALA LUMPUR: Kenanga Investors Bhd has launched the Kenanga Alternative Series: Global Real Assets Fund (Kasgraf), a new addition to its Kenanga Alternative Series. The Kasgraf is an open-ended retail fund designed to achieve steady growth by diversifying investments across global real assets through selected exchange-traded funds (ETFs). The fund’s ETF exposure is managed by Gax MD Sdn Bhd, which uses sophisticated algorithms and advanced investment models to ensure precise, effective management of global real assets. Gax MD is also the creator of MYTHEO, a digital investment platform launched in Malaysia since 2019. “The introduction of the Kasgraf enables Kenanga Investors to provide investors with enhanced growth opportunities via well diversified, global investment strategies. Amidst the complex economic landscape of

today, the value of physical assets such as real estate, commodities and precious metals often appreciate, enabling investors to maintain the real value of their wealth. By integrating real assets into our portfolios, we offer our investors a robust hedge against market uncertainties and a means to achieve steady returns due to its sustainable growth potential,” said Kenanga Investors executive director and CEO Datuk Wira Ismitz Matthew De Alwis. He added that their partnership combines Kenanga Investors’ extensive asset management expertise with Gax MD’s advanced quantitative modelling capabilities, creating a strategy based on a systematic, data driven and cost-efficient approach to portfolio construction that optimises performance while strengthening diversification and risk management. Kasgraf aims to achieve a steady growth of investment assets and realise stable income, making it an ideal choice for investors with

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