| | JUNE 20248IN FOCUSSINOPEC UNIT INKS $1.1 BILLION DEAL FOR ARAMCO GAS PIPELINESGo Hub Capital Bhd has entered into an agreement with UOB Kay Hian Securities to underwrite its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia. This agreement is a significant milestone for Go Hub, which provides IT services to the transportation sector, following its listing approval from Bursa Malaysia.Under the agreement, UOB Kay Hian will underwrite 32 million IPO shares for the Malaysian public and eligible persons, including directors, employees, and contributors to the group's success. The IPO involves the public issuance of 107.18 million new ordinary shares. Of these, 20 million shares are designated for the Malaysian public, 12 million for eligible persons, and the remaining 75.18 million shares will be privately placed with institutional and selected investors.Go Hub's operating company, NSS IT Solution Sdn Bhd, holds the Malaysia Digital Status, exempting it from the Bumiputera equity requirement for the IPO. Specializing in enterprise IT services with a focus on the transportation sector, Go Hub develops customized software systems and integrates hardware and software systems for the bus and rail segments. The company also creates transportation IT software, such as terminal and bus operating systems, aimed at improving the operational efficiency of public transportation infrastructure.The proceeds from the IPO will be primarily used to support Go Hub's business expansion plans. These plans include enhancing technical capabilities and expanding the workforce, according to Executive Director and CEO Tan Cherng Thong. "We are gearing up to expand our technological footprint and solution offerings within the transportation sector, and this IPO is a strategic step in that direction," he said. Tan emphasized the company's goal to expand its IT solutions for the transportation industry, enhance customer engagement through digital transformation, and explore new opportunities in adjacent markets. A unit of Sinopec has announced a significant deal valued at 7.956 billion yuan to construct natural gas pipelines for Saudi Aramco. The agreement entails Sinopec Oilfield Service Co. undertaking the procurement and construction tasks for the third phase of Saudi Arabia's Master Gas System. This ambitious project involves the establishment of a comprehensive pipeline network, comprising trunk lines spanning 2,630 kilometres GO HUB SIGNS IPO UNDERWRITING AGREEMENT WITH UOB KAY HIAN
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