EGH plans 130,000 sq ft Puchong HQ ahead of 16 Oct listing

EGH International Bhd, a Puchong interior fit-out contractor, lists on Bursa Malaysia's ACE Market on 16 October 2026 and plans to build a five-storey head office, warehouse and showroom of about 130,000 sq ft on 2.67 acres it owns in Kawasan Perindustrian Meranti Utama, Puchong. The building is budgeted at RM28 million, but only RM5 million of it comes from the listing. The rest is to come from bank borrowings that EGH had not yet secured at 31 August 2026.

The new building

• Site: PT 22, Jalan Meranti 5, Kawasan Perindustrian Meranti Utama, 47120 Puchong. The title, H.S.(M) 11966, is in Mukim Dengkil, Sepang district. It is held by subsidiary IPO World on a 99-year lease to June 2073, and is carried at RM3.09 million
• Still farmland: the land is classed as agricultural, for fruit planting. The local authority approved the development order on 24 July 2026, and EGH will now apply to convert the land to industrial use, expected by the end of 2026
• Floor space: showroom 25,000 sq ft, office 32,000 sq ft, warehouse 16,000 sq ft, car park 34,000 sq ft and common areas 23,000 sq ft
• Cost: RM23.2 million for the structure and infrastructure, RM3.0 million for fit-out, RM1.0 million for earthworks and piling, and RM0.8 million in fees. That is about RM215 psf of built-up area (derived)
• Timetable: construction from the fourth quarter of 2026, completion in the first quarter of 2028, and the move by the second quarter of 2028

The building it will leave

EGH now runs everything from one building at No. 5, Jalan BP 4/9, Bandar Bukit Puchong. It is a freehold six-storey office and warehouse bought in 2014, with 42,779 sq ft built-up on 32,808 sq ft of industrial land. EGH says about 80% of the office space and almost all of the warehouse are in use. Once it moves, EGH plans to rent out or sell this building. It is carried at RM15.48 million, about RM362 psf of built-up area.

The listing

• Offer: 360 million shares at 16 sen: 240 million new shares raising RM38.4 million, and 120 million existing shares sold by substantial shareholder Dato' Doh Jee Ming for RM19.2 million
• Use of the RM38.4 million: RM14.4 million to repay 11–12% loans from two licensed moneylenders, RM13.0 million for working capital, RM6.0 million for listing costs and RM5.0 million for the building
• Demand: the 50 million shares for the Malaysian public were 2.63 times subscribed, and the 280 million placement shares were fully placed
• Value: RM160 million at the IPO price, about 15 times the RM10.9 million profit for the year to 31 March 2026, on revenue of RM187.1 million

Who is behind it

EGH's main business, ECO Interiors, is a Grade 7 contractor that has completed more than 200 fit-out projects. Its retail arm, IPO World, sells furniture, fixtures and equipment and building materials from the Puchong showroom. Group managing director Dato' Weslie will hold 31.3% after the listing and group CEO Lim Seow Ni 7.5%. Dato' Doh Jee Ming, group managing director of Lagenda Properties Bhd, will keep 25.2% as a passive investor. ECO Interiors fitted out Lagenda's corporate office tower in Petaling Jaya.