BUS Cap Bhd, a premier bus builder with over five decades of established market presence, has officially secured the green light from Bursa Malaysia Securities Bhd to undertake its initial public offering (IPO) and listing on the ACE Market.
The proposed initial public offering (IPO) entails a total offering of 126.52 million shares in Bus Cap. This comprises a public issue of 107.35 million new shares and an offer for sale of 19,17 million existing shares via private placement to selected investors.
TA Securities Holdings Bhd has been appointed as the principal adviser, sponsor, underwriter and placement agent for the IPO.
With a heritage spanning over 58 years, Bus Cap which has its origin in Sin Hock Leong Coach Works Sdn Bhd has built a formidable track record serving bus operators, travel companies and government agencies in Malaysia while successfully expanding its market presence into Singapore.
The group posted strong revenue of RM56.4 mil for its financial year ended Dec 31, 2025 which translated into a net profit of RM6.9 mil.
This financial performance was underpinned by surging demand for versatile and higher-capacity buses – particularly semi-high deck models.
“Receiving the green light from Bursa Malaysia is a strong validation of the foundation we have built over the last five decades,” commented Bus Cap’s managing director Ng Chai Sing.
“Transitioning to the public markets gives us the financial agility to aggressively modernise our operations and capture a larger slice of the bus building industry. “
Added Ng: “Amid rising demand from bus operators in Malaysia and Singapore for higher-capacity, more efficient fleets, this proposed listing equips us with the capital and technological edge to meet evolving needs.”
The proposed listing exercise will directly support Bus Cap’s next phase of structural growth.
Key expansion initiatives include the development of a new production facility to scale up its manufacturing capacity, strategic investments into semi-automated fabrication technologies to drive operational productivity and the strengthening of working capital to fulfil an expanding order book. – April 8, 2026
Main image credit: SHL Coach
