New Stock News | BBSB Participates in the Hong Kong Stock Exchange GEM Hearing for Malaysian Civil Engineering Contractors.

According to the disclosure from the Hong Kong Stock Exchange on December 24th, BBSB International Limited ("BBSB") has gone through the listing hearing on the GEM of the Stock Exchange of Hong Kong, with Lico Capital Securities Limited as its exclusive sponsor. According to the prospectus, BBSB is a civil engineering contractor in Malaysia with over 16 years of experience, specializing in providing bridge engineering services as a contractor for major transportation infrastructure projects owned or initiated by the Malaysian government or government-related companies. With its reputation and experience in the civil engineering industry, BBSB strategically expanded its scope of civil engineering services to include flood protection engineering, which follows the same engineering procedures as bridge engineering. In 2004, BBSB's executive director, Dato Tan, acquired the majority of the shares of the company's main operating subsidiary, BBSB Holdings, in Malaysia, which was subsequently wholly owned by the company's controlling shareholders Dato Tan and Puan Nantine. BBSB was first awarded and currently holds qualifications for Grade G7 in civil engineering construction, Grade B in building construction, and Grade ME in mechanical and electrical engineering from the Construction Industry Development Board Malaysia in 2008. This is the highest level of contractor's license issued by the Construction Industry Development Board, allowing the company to undertake civil and structural engineering projects without bid/contract value restrictions. Since its establishment, the group has been involved in several major transportation infrastructure projects in Malaysia, such as the East Klang Valley Expressway, Jalan Ampang-Duta Ulu Klang Expressway, Balakong-Sungai Long Elevated Highway, and the SUKE Expressway. In 2024, based on revenue from bridge engineering, BBSB ranked tenth among Malaysia's largest bridge engineering subcontractors, with a market share of approximately 2.5%. With a strong track record in bridge engineering of various scales and complexities, BBSB is well-positioned to benefit from the government's continuous support policies for national and regional transportation infrastructure development. The table below shows the revenue details of BBSB divided by civil engineering category during the track record period: During the track record period, BBSB's clients mainly included the main contractors of transportation infrastructure projects in Malaysia. The owners of these projects are the Malaysian federal government or government-related companies. In terms of competition, according to Zhaoshi Consulting, in Malaysia's bridge engineering industry, contractors must obtain a contractor registration certificate issued by the Construction Industry Development Board, which uses a seven-level classification system from G1 to G7. As of December 31, 2024, approximately 2,000 companies in the Malaysian bridge engineering industry had obtained the highest G7 certification. Despite the large number of certified companies, by the end of 2024, there were fewer than 30 bridge engineering subcontractors actively involved in bridge engineering projects in Malaysia. The market for bridge engineering and transportation infrastructure projects in the civil engineering industry in Malaysia is relatively fragmented. Subcontractors play a significant role in Malaysia's bridge engineering market. In 2024, the market size of revenue generated by Malaysian bridge engineering subcontractors reached 4.9 billion Malaysian Ringgit. In 2024, based on revenue from bridge engineering, BBSB was ranked as the tenth largest bridge engineering subcontractor in Malaysia, with revenue of approximately 123.2 million Malaysian Ringgit and a market share of approximately 2.5%. Financially, for the financial years 2023, 2024, and for the first six months of 2025, the company achieved revenues of approximately 76.757 million Malaysian Ringgit, 133 million Malaysian Ringgit, and 73.986 million Malaysian Ringgit respectively. During the same period, the company's owners' share of profits and comprehensive income totaled approximately -14.46 million Malaysian Ringgit, 26.189 million Malaysian Ringgit, and 3.201 million Malaysian Ringgit respectively.