Main Market listing marks milestone for marine transporter Orkim

KUALA LUMPUR (Dec 10): Orkim Berhad (Orkim), Malaysia’s leading marine transportation company, was officially listed on Tuesday on the Main Market of Bursa Malaysia Securities Berhad, marking another significant milestone in its 18-year journey of growth and transformation.

The listing ceremony was officiated by Minister of Finance II and acting Minister of Economy, Datuk Seri Amir Hamzah Azizan, alongside the chairman and board of directors of Orkim Berhad, representatives from Permodalan Nasional Berhad (PNB), Ekuiti Nasional Berhad (Ekuinas), and Bursa Malaysia.

Orkim’s listing marks the successful transition of shareholding from Ekuinas to PNB, which now holds 60 per cent of the company.

This reflects the government’s GEAR-Up Agenda and the Bumiputera Relay Race in motion — a model where capable Bumiputera enterprises grow under one institution and continue to scale under another, ensuring continuity, capability, and long-term sustainability.

Orkim chairman Datuk Abdul Hamid Sh Mohamed said, “Our listing represents a defining step forward for Orkim Berhad. It symbolises our commitment to transparency, governance, and value creation for stakeholders.

“We are proud to be the first Bumiputera IPO on the Main Market this year, and we look forward to continuing our growth journey under PNB’s long-term stewardship.

“Guided by our dividend policy of distributing 50 to 70 percent of profit after tax, we remain committed to rewarding our shareholders while strengthening Malaysia’s maritime and energy logistics sector.”

Ekuinas first invested in Orkim in 2014, guiding the company through a decade of structured value creation, governance enhancement, and fleet modernisation.

Today, Orkim stands as Malaysia’s largest clean petroleum product (CPP) tanker operator, commanding 56 per cent market share of the domestic market based on the number of Malaysian registered tankers, with a fleet of 18 vessels, including two LPG tankers, serving major oil and gas clients across Malaysia and the wider Asian region.

Through its IPO, Orkim successfully raised RM 92 million via a public issue of 100 million new shares, alongside an offer for sale of 300 million existing shares.

The proceeds from the public issue will be channelled primarily toward vessel acquisitions (87.0 per cent), working capital (1.2 per cent), and listing-related expenses.

CIMB Investment Bank Berhad is the principal adviser, joint bookrunner, managing underwriter, and joint underwriter for this IPO exercise.

RHB Investment Bank Berhad acts as joint bookrunner and joint underwriter, while Affin Hwang Investment Bank Berhad serves as joint underwriter.