Icon is raising money to fund its fleet expansion programme over the next two years, which will see it building three to five vessels to boost its overseas business. Ceo Jamal Yusof was quoted as saying Icon wants to build modern, high-tech vessels to grow its business overseas by having a larger footprint. Areas to be covered include the Middle East and Southeast Asia.
Icon currently has 32 vessels and operates in Qatar, Vietnam, Thailand and Malaysia.
The company is in the process of selecting which bank to use and Jamal said the chosen bank will be announced by the end of this month with the listing to be completed by May or June next year.
Icon is also in talks with a party in Indonesia to establish a joint venture that will help it in tenders for jobs there. Negotiations are expected to be concluded before the company submits its listing application to Bursa Malaysia.
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