• An established civil engineering contractor in Malaysia specialised in providing bridge engineering services as a subcontractor for large scale transportation infrastructure, with over 16 years of experience.
• Provides 2 main types of services: (i) bridge engineering works and (ii) flood mitigation works.
• Holds the highest grade of contractor licence under the CIDB – Grade G7 qualification in Category CE (Civil Engineering Construction), Category B (Building Construction) and Category ME (Mechanical and Electrical) in Malaysia, which allows the Group to undertake civil and structural works of unlimited tender/contract value.
• The Group mainly provides services in projects owned or initiated by the government or government-linked companies in Malaysia, and has participated in a number of notable projects, such as Eastern Dispersal Link, Duta-Ulu Kelang Expressway, Damansara-Shah Alam Elevated Expressway and the SUKE Highway.

Financial Highlights

HONG KONG SAR – Media OutReach Newswire – 31 December 2025 – BBSB International Limited (“BBSB” or the “Company”, together with its subsidiaries, the “Group”, stock code: 8610.HK), announces the details of its plan to list on the GEM of The Stock Exchange of Hong Kong Limited (“SEHK”) today.

A total of 125,000,000 shares, subject to the Offer Size Adjustment Option, will be offered under the Share Offer, of which 90%, or 112,500,000 shares will be offered by way of Placing; while the remaining 10%, or 12,500,000 Shares (subject to reallocation) will be offered under the Public Offer. The Offer Price per Offer Share is expected to be not less than HK$0.6 and not more than HK$0.7. The shares will be traded in board lots of 4,000 shares each. The Public Offer will commence at 9:00 a.m. on 31 December 2025 (Wednesday) and close at 12:00 noon on 8 January 2026 (Thursday). The final offer price and allotment results are expected to be announced on 12 January 2026 (Monday). Dealings in shares of BBSB on the GEM of the SEHK are expected to commence on 13 January 2026 (Tuesday).

Assuming an Offer Price of HK$0.65 per Offer Share (being the mid-point of the indicative price range of the Offer Price), the aggregated net proceeds from the Share Offer, after deducting related expenses and assuming the Offer Size Adjustment Option is not exercised, will be approximately HK$56.0 million (equivalent to approximately RM30.2 million). The Group intends to use these net proceeds for the following purposes: 1) approximately 65.2% to strengthen its financial position to pay for the upfront costs of its potential projects; 2) approximately 19.8% for expansion of workforce to support growth across all regions; 3) approximately 5.0% to upgrade and digitise the Group’s information systems and internal processes; and 4) approximately 10.0% for general working capital.

Lego Corporate Finance Limited is the Sole Sponsor. Lego Securities Limited is the Sole Overall Coordinator. Lego Securities Limited and Fortune Origin Securities Limited are the Joint Bookrunners and Joint Lead Managers.

Cornerstone Investors

The Group has entered into cornerstone investment agreements with 2 cornerstone investors, namely Mr. Choy Joo Seong and Mr. Tan Nam Joo, pursuant to which each of the cornerstone investors have agreed to, subject to certain conditions, subscribe for such number of Shares at the Offer Price, which may be purchased with an amount of HK$7.0 million.

Business Overview

The Group is an established civil engineering contractor in Malaysia with over 16 years of experience, specialising in providing bridge engineering services as a subcontractor for large-scale transportation infrastructure engineering projects owned or initiated by the government or government-linked companies in Malaysia. The Group’s business provides 2 categories of services:

1. Bridge engineering works which primarily involve (i) the design and construction of girder bridges; and (ii) construction of the connecting highways, roads and facilities ancillary to the girder bridge, such as drainage, sewerage, lightings and signages; and
2. Floor mitigation works, focusing on the design and construction of flood mitigation structural solutions to reduce flooding risks.

During the Track Record Period, the Group has completed 2 transportation infrastructure engineering projects. Project JB25, which involved step-in works to assist in the completion of certain outstanding work along the SUKE Highway, had a total contract value of approximately RM33.1 million. Project JB30, involving the construction of earth work and drainage works along Raub Bypass, had a total contract value of RM25.0 million. As at the Latest Practicable Date, the Group has 5 ongoing projects with a total contract value of approximately RM723.5 million.

Competitive Strengths

1. Proven track record in the transportation infrastructure engineering market in Malaysia

The Group has established a strong foothold in the transportation infrastructure engineering market in Malaysia since 2008. Attributed to its experiences in undertaking large-scale transportation infrastructure engineering projects in Malaysia, the Group is registered with the highest contractor licence under the CIDB that allows it to undertake civil and structural works of unlimited tender/contract value. The Group has participated in various major transportation infrastructure engineering projects in Malaysia. This demonstrates not only the Group’s technical capability and service quality, but also its potential to capture future opportunities in the transportation infrastructure engineering market in Malaysia.

2. Provide holistic value engineering solutions to customers

The Group is able to provide holistic value engineering to customers, which take into account construction cost, timelines and environmental impacts. Value engineering is a systematic methodology that applies established tools and techniques to identify, analyse and optimise the functions of a project. Through detailed analysis of project requirements and close collaboration with its customers, the Group ensures that the final design is both efficient and cost-effective.

3. Management team with in-depth industry experience and knowledge

The Group’s management team has extensive industry experience and expertise in the transportation infrastructure engineering industry, especially in the provision of bridge engineering services for large-scale transportation infrastructure engineering projects in Malaysia. Datuk Tan, the chairman of the Board and an executive Director, is a professional engineer in Malaysia and a chartered professional engineer in Australia with over 36 years of experience in the transportation infrastructure engineering industry across both public and private sector projects in Malaysia.

4. Committed to upholding safety and eco-friendliness

The Group places emphasis on safety standard, stringent quality control and environmental protection in the execution of its projects. Its management systems for provision of construction and completion of its projects were certified to be in compliance with the standard required under ISO 9001.

5. Established stable business relationships with major customers, suppliers and subcontractors

The Group’s extensive experience and technical knowledge, coupled with its steadfast commitment to safety, quality and environmental responsibility, have earned the confidence of its customers. The Group has been able to maintain long-term business relationships with reputable and large-scale construction and engineering contractors. As at the Latest Practicable Date, its 5 largest customers in each of FY2023 and FY2024 and 4 largest customers in 6M2025 had maintained a business relationship with the Group for up to eight years.

BUSINESS STRATEGIES

1. Competing for more upcoming large-scale transportation infrastructure engineering projects and flood mitigation projects in both Peninsular Malaysia and East Malaysia

Under the policy framework of the Twelfth Malaysia Plan between 2021 to 2025, the Malaysian government has prioritised infrastructure improvement and inter-regional connectivity. To advance these objectives, RM86.0 billion was allocated to key sectors such as transportation and municipal infrastructure in 2025. The Group’s established track record coupled with its successful application of civil engineering expertise to flood mitigation projects position the Group favourably to bid for future large-scale projects in both Peninsular Malaysia and East Malaysia.

2. Further strengthening manpower and enhancing project management capability

Bridge engineering works within transportation infrastructure projects typically span 1 to 5 years. The Group is required to deploy a full project management team for each project. To ensure the effective execution of any newly awarded projects without compromising the progress, quality, or safety standards of ongoing works, additional recruitment would be necessary to strengthen the Group’s project supervision and site management capabilities.

3. Expansion of workforce to support growth across all regions

The Group plans to expand its headquarters workforce in Peninsular Malaysia to strengthen its central operational capabilities. The expansion in workforce at headquarters will create a robust foundation that not only supports the Group’s current project commitments but also positions it to capitalise on future growth opportunities.

4. Upgrade and digitise the Group’s information systems and internal processes

At present, the Group does not have an integrated IT system in place and instead relies on individual software tools for specific functions such as budgeting, scheduling, and documentation. The Group intends to acquire a range of software, IT infrastructure upgrades, and process enhancements to establish a streamlined and integrated procurement management system.

Hashtag: #BBSB #IPO

The issuer is solely responsible for the content of this announcement.

BBSB International Limited

BBSB International Limited is a civil engineering contractor in Malaysia with over 16 years of experience, specialising in providing bridge engineering services for large-scale transportation infrastructure engineering projects owned or initiated by the government or government-linked companies in Malaysia. The Group has strategically expanded its civil engineering works to include flood mitigation works. The Group has participated in a number of notable transportation infrastructure engineering projects in Malaysia, such as Eastern Dispersal Link, Duta-Ulu Kelang Expressway, Damansara-Shah Alam Elevated Expressway and the SUKE Highway. The Group currently holds a CIDB Grade G7 qualification in Category CE (Civil Engineering Construction), Category B (Building Construction) and Category ME (Mechanical and Electrical) in Malaysia, which is the highest grade of contractor licence under the Construction Industry Development Board of Malaysia, allowing it to undertake civil and structural works of unlimited tender/contract value.

The programme generated approximately Rp5.5 billion in premium sharing, which will be distributed to 76 Village Unit Cooperatives (KUDs), benefitting more than 30,000 smallholders. The initiative underscores Asian Agri’s long-term commitment to improving smallholder welfare while advancing environmentally responsible palm oil management.

Head of Partnership at Asian Agri, Rudy Rismanto, said RSPO certification plays a critical role in expanding market access for smallholder-produced palm oil.

“Through RSPO certification, palm oil produced by our partner smallholders can be accepted in global markets, including Europe, which requires sustainably produced products,” Rudy said. “The premiums received are reinvested to improve productivity, upgrade infrastructure, strengthen KUD facilities and support alternative sources of income. In this way, sustainability delivers tangible economic benefits for smallholders.”

Rudy emphasised that Asian Agri’s sustainability approach goes beyond environmental stewardship to include social and economic impact.

“Through strong collaboration with smallholders, we ensure that sustainable practices also translate into improved livelihoods. This reflects Asian Agri’s philosophy of creating benefits for society, the environment, customers, and ultimately the company itself—so that sustainability and prosperity grow together.”

Representing partner cooperatives, Subiyono, Head of Karya Bersama KUD, said the premium sharing scheme has delivered clear and measurable benefits.

“The premium has provided meaningful support to both smallholders and the cooperative,” he explained. “In 2026, we plan to allocate these funds to improve and maintain roads that serve as the main access routes for transporting Fresh Fruit Bunches to palm oil mills. Better infrastructure will help ensure smoother operations for smallholders.”

Karya Bersama KUD is currently participating in a replanting partnership with Asian Agri. The replanted oil palm area, now 49 months old, has achieved an average productivity of 2 tons per hectare per month.

Similarly, Waluyo, Head of Makmur Rezeki KUD, highlighted how the premium strengthens institutional capacity while supporting sustainable practices.

“The funds are allocated to strategic priorities, including improvements to fertiliser and herbicide warehouses, road upgrades, provision of personal protective equipment (PPE) for smallholders, and the installation of owl nesting boxes as part of natural pest control,” he said. “These initiatives enable more environmentally friendly and efficient plantation management.”

According to Waluyo, the programme also reinforces smallholders’ commitment to sustainability.

“This support not only improves cooperative facilities and operations but also strengthens members’ dedication to sustainable practices. We hope Makmur Rezeki KUD can continue to grow together with Asian Agri, so the benefits can be felt more widely by our members and surrounding communities.”

Through the Certified Palm Oil Premium Sharing Programme, Asian Agri, a member of the RGE group of companies founded by Sukanto Tanoto, continues to invest in the long-term resilience of smallholders and cooperatives, ensuring that sustainable palm oil development delivers enduring social, economic, and environmental benefits for generations to come.
Hashtag: #RGE #AsianAgri #CSR #palmoil #Indonesia #smallholders #sustainability #RSPO #certification #KUD

https://www.asianagri.com
website for more information.

William Zhang, President of Enterprise Business at Huawei Thailand, stated, “The new power system faces trends such as green energy integration and interactive power consumption. Digitalization and intelligence are key to addressing these challenges. As critical nodes in the grid, substations must be upgraded to enhance overall reliability. The solution we launched with PEA uses optical-visual linkage and AI-based predictive maintenance to enable intelligent inspections and efficient O&M, ensuring substations run safely, reliably, and efficiently.”

Pantong Thinsatit, Assistant Governor for Grid Network Operations at PEA, added, “Digital transformation is essential for high-quality development in the power industry. PEA is accelerating substation intelligence by harnessing innovation to reshape energy services. We’ve deployed intelligent unattended systems in 467 substations, using cutting-edge technology to ensure safe operations. Moving forward, we will push for full automation, eliminate data silos, and integrate smart poles, license plate recognition, battery monitoring, and emergency buttons for rapid, precise responses. This will make intelligent substations central to the energy ecosystem and provide a replicable model for industry-wide digital transformation.”

Traditional substations often struggle with three major issues: limited security monitoring, inefficient and error-prone manual inspections, and outdated cabling that causes high latency and poor stability, restricting multi-service processing and intelligent scheduling. Huawei’s solution tackles these challenges with three core capabilities:

Perimeter Protection—All-Weather Digital Security

Using fiber optic sensing and AI algorithms, the system automatically detects intrusions, links with video surveillance devices, and allows remote verification—shifting from reactive to proactive security with round-the-clock monitoring.

Intelligent Inspection—Innovative Maintenance

Multi-scenario AI inspection algorithms, computer vision models, and cloud-edge collaboration support automatic meter reading and transformer oil leakage warnings, enabling real-time remote management and minute-level fault responses.

Full Connectivity—Comprehensive Sensing Network

Intra-station passive optical networks (PONs) significantly reduce deployment time and costs, forming the power grid’s “nervous system” to deliver reliable, high-speed connectivity for intelligent O&M.

This joint achievement underscores Huawei and PEA’s progress in technological innovation and ecosystem cooperation. Looking ahead, Huawei will continue to work closely with Thai power companies and partners to accelerate the digital and intelligent transformation of the power sector.
Hashtag: #Huawei

The issuer is solely responsible for the content of this announcement.