Venture(US:VEMLY) Zhi Tong Cai Jing·2025-12-24 23:58Core Viewpoint - BBSB International Limited is preparing for its listing on the Hong Kong Stock Exchange's Growth Enterprise Market, focusing on civil engineering and bridge construction services in Malaysia, with a strong track record in government-related infrastructure projects [1][4]. Company Overview - BBSB has over 16 years of experience as a civil engineering contractor in Malaysia, primarily serving large-scale transportation infrastructure projects initiated by the government or government-related companies [1]. - The company has expanded its services to include flood control engineering, leveraging its reputation in civil engineering [4]. Qualifications and Certifications - BBSB holds the G7 level contractor license from the Construction Industry Development Board of Malaysia, which allows it to undertake civil and structural engineering projects without any contract value limits [4]. Market Position - As of 2024, BBSB ranks as the tenth largest bridge engineering subcontractor in Malaysia, with a market share of approximately 2.5% and an estimated revenue of 123.2 million Malaysian Ringgit from bridge engineering [4][6]. - The Malaysian bridge engineering market is relatively fragmented, with fewer than 30 active subcontractors despite around 2,000 companies holding the G7 certification [6]. Financial Performance - BBSB's revenue for the fiscal years 2023 and 2024 is reported as 76.76 million Ringgit and 133 million Ringgit, respectively, with a net loss of 14.46 million Ringgit in 2023 and a profit of 26.19 million Ringgit in 2024 [5][7]. - The company has shown a significant increase in revenue from bridge engineering, accounting for 97.2% of total revenue in 2023 and projected to be 92.6% in 2024 [5].