ProEight Sdn Bhd operates in the oil and gas sector and competes with bigger players in countries such as the US and Germany. The company, which has operating bases around the country and close to 200 employees, designs and manufactures mechanical seals used in offshore structures.
Managing director Azhar Zainal Abidin says its non-listed status tends to dampen its chances when it comes to bidding for international projects. That is because prospective clients prefer listed entities, whose financial results and governance structure are made public.
“We can beat the original equipment manufacturers’ designs because we have developed our own intellectual property. But to expand, we need to go beyond local shores. And it is better to do that as a public-listed company, rather than a private one, because the two are viewed differently,” says Azhar.