IPO ... SEB

It is tendering for RM50 million worth of contracts. Up to March 31 2010, it has an order book of RM13.9 million and are tendering for RM50 million jobs locally and abroad at this moment.

While the palm oil sector remains the company's main focus, it is diversifying into other high-growth sectors, namely oil and gas (O&G), waste management, food processing and pharmaceuticals.

Palm oil is already a major contributor for many years with a stable clientele.

The palm oil sector contributed up to 80% of SEB's revenue in the last few years but contribution from O&G and waste management was expected to grow, reaching 10% over the next three years. The balance is expected to come from the chemical and food industries.

It is actively expanding in O&G and waste management, and not forgetting food and pharmaceuticals. In waste management, it has signed some collaboration and are looking for strategic partners on the oil and gas side.

SEB is an engineering company and fabricator of process equipment for various industries, mainly palm oil, O&G, food and waste management. It fabricates a wide range of mission-critical process equipment and metal structures.

SEB, which recorded revenue and net profit of RM69 million and RM9.2 million in the financial year ended Dec 31, 2009, has ventured into more than 30 countries, with the bulk of contracts coming from Indonesia.

It recently completed Southeast Asia's largest sludge treatment plant in Singapore and a fabrication project for an oil refinery operator in Malaysia.

The exercise will raise RM16.9 million for SEB and RM6.9 million for Success Transformers. Of the RM16.9 million, RM9 million will be allocated for capital expenditure, RM3 million for repayment of borrowings, RM2.9 million for working capital and RM2 million for listing expenses.