Your Vision, Our Blueprint
Over 11 Years of Proven Quality & Trusted Delivery in Sarawak.
Our History and Key Milestones
Our Group is principally engaged in building construction and infrastructure construction services in Sarawak. The history of our Group can be traced back to 2010 when our founders, Seah Boon Tiat and Seah Boon Kee incorporated Hartanah Construction to undertake construction activities in Sarawak.
The table below sets out the historical events and key milestones of our Group:
- Hartanah Construction was incorporated on 19 November 2010.
- Completed our maiden building construction project for the construction of a site office at Samajaya, Kuching, Sarawak and other related works such as construction of pipe support and water pipeline.
- Hartanah Construction registered as a CIDB G4 contractor and secured a project from Pembinaan Cendera Sdn Bhd for building construction services for Sentosa Parade, Kuching, Sarawak, totalling RM1.4 million.
- Secured and completed our first building construction services project using IBS in less than two months, amounting to RM0.5 million for the construction of a site office located at Simunjan as part of Kimlun Sdn Bhd’s Pan Borneo Highway project in Sarawak.
- Secured our first major infrastructure construction project from ML Sepakat Sdn Bhd, a subcontractor of Kimlun Sdn Bhd, as part of the Pan Borneo Highway Project, worth RM104.6 million. ML Sepakat Sdn Bhd subsequently exited the project.
- Secured our first high rise building project worth RM2.3 million from Sen Meng Kang Sdn Bhd for building construction works of two blocks of 14-storey condominium known as Royal Richmond Gold in Kuching, Sarawak.
- Appointed directly as Kimlun Sdn Bhd’s subcontractor to complete the remaining works worth RM96.8 million following the exit of ML Sepakat Sdn Bhd in respect of the Pan Borneo Highway Project.
- Hartanah Construction obtained the ISO 9001:2015 certification and registered as a CIDB G7 contractor.
- Secured our first institutional building construction projects in respect of the Sekolah Daif: Lawas and Limbang Project, Sekolah Daif: Bintulu and Belaga Project, and Sekolah Daif: Kapit Project using IBS. The projects comprising 10 dilapidated schools were completed within a year and were collectively worth RM30.6 million.
- Hartanah Construction obtained Class D certification from UPKJ.
- Secured our first major infrastructure construction project in Sabah, namely the Sg. Padas Bridge Project worth RM29.8 million.
- Upgraded to Class A certification from UPKJ and secured our largest project by contract value, amounting to RM235.5 million, in respect of the State Archive Project.
- Secured the Yayasan International School Sibu Project worth RM48.8 million. This was our first main contractor project for the public sector.
- Secured the Sebauh Bridge Project worth RM74.9 million. This was our first rescue contractor project.
- Hartanah Construction obtained the ISO 45001:2018 certification.
OUR COMPETITIVE STRENGTHS
OUR COMPLETED PROJECTS
OUR Ongoing PROJECTS
Board of Directors
Datin Josephine
Seah Boon Tiat
Seah Boon Kee
Tony Cheok
Peter Chai
Victor Fong
Ong Ai-Lyn
Chai Suk Phin
Our Company Background
Our Company was incorporated in Malaysia under the Act on 21 August 2024 as a private limited company under the name of Hartanah Kenyalang Sdn Bhd. On 23 October 2024, our Company was converted into a public limited company under our present name.
We are an investment holding company, while our subsidiary, namely Hartanah Construction is principally involved in building construction services—particularly institutional and non-residential buildings such as schools and public facilities—as well as infrastructure construction services, including bridges and roads.
We have 11 years of operating history in the construction industry in Malaysia since commencing business operations in 2010.
Acquisition of Hartanah Construction
On 18 October 2024, we entered into a conditional share sale agreement with the Vendors (Collectively, they are Seah Boon Tiat, Seah Boon Kee, Tony Cheok, Peter Chai, Yeo Kwang Min and Wong Ping Eng) to acquire the entire equity interest in Hartanah Construction comprising 3,000,000 ordinary shares for a purchase consideration of RM24,954,950.
The purchase consideration of RM24,954,950 was arrived at on a “willing-buyer willing-seller” basis and represents a Price-to-book multiple of approximately 1.0 time based on the audited Net Assets of Hartanah Construction as at 30 April 2024 of RM24,947,747. The purchase consideration was satisfied entirely by the issuance of 499,099,000 new Shares at an issue price of RM0.05 each, credited as fully paid-up to the Vendors. The Acquisition of 3,000,000 Hartanah Construction ordinary shares was completed on 6 March 2025.
IPO Overview
- IPO Price: RM0.16 per share
- Total Shares Offered: 198.4 million
- Market Cap Upon Listing: RM99.2 million
- Proceeds Raised: RM19.34 million
- Enlarged Share Capital: 620 million shares
Share Allocation
| Category | Shares (mil) |
|---|---|
| Public Balloting (Bumiputera & Non-Bumi) | 31.0 |
| Pink Form (Directors, Employees, Others) | 18.6 |
| Private Placement (Bumiputera & Non-Bumi) | 148.8 |
| TOTAL | 198.4 |
Utilising RM19.34M IPO Proceeds
We are channeling our IPO funds strategically to strengthen operations, enhance project capacity, upgrade technologies, and drive sustainable growth.
| Purpose | Allocation | % |
|---|---|---|
| Project Working Capital | RM10.5 mil | 54.2% |
| Purchase of Machinery & IT | RM3.0 mil | 15.5% |
| Loan Repayment | RM2.1 mil | 10.9% |
| Listing Expenses | RM3.75 mil | 19.4% |
| TOTAL | RM19.34 mil | 100% |
Highlights
- 6 new excavators to increase project capacity
- Upgraded IT systems to streamline operations
- RM150.8 mil order book and growing
- Gearing reduced from 0.73x to 0.38x for stronger financial position