Tri-Mode appoints TA Securities, Kenanga IB as underwriters for proposed IPO

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KUALA LUMPUR (April 12): Integrated logistics service provider Tri-Mode System (M) Bhd, en route to list on the ACE Market of Bursa Malaysia, has signed an underwriting agreement with TA Securities Holdings Bhd and Kenanga Investment Bank Bhd for its initial public offering (IPO).

In a statement today, Tri-Mode said TA Securities will act as the company’s principal adviser, sponsor, managing underwriter, joint underwriter and placement agent, while Kenanga is the joint underwriter for the IPO.

In addition, ZJ Advisory Sdn Bhd has been appointed as the financial adviser for the listing exercise.

“I believe that becoming a listed company will provide us with the needed financial strength and increased market awareness to achieve our business objectives,” Tri-Mode group managing director Datuk Hew Han Seng said.

Tri-Mode commenced business in 1992 by providing sea freight services.