Corporate History

Year	Description
1972	Mechmar Sdn Bhd was incorporated on 19 December 1972.
1977	The company commenced manufacturing of boilers in Pasir Gudang.
1984	The company was merged with the Bestobell Group of Companies in Malaysia.
1985	The conversion to a Public Listed Company on 13 June 1985, with an increase in paid-up capital to RM20 million.
1986	The listing of shares on the Kuala Lumpur Stock Exchange on 17 June 1986.
1988	The completion of a new engineering facility in HICOM, Shah Alam.
1989	The change of name to Mechmar Corporation (Malaysia) berhad on 14 July 1989.
1990	The Rights issue of 1 for 3, increasing paid-up capital to RM40 million on 17 August 1990.
1991	A joint-venture with Keppel Group of Singapore to form Mechmar Keppel Engineering Sdn Bhd on 4 November 1991.
1992	The acquisition of 100% of Relau Estates Sdn Bhd on 31 August 1992, by an issue of Mechmar Shares, increasing paid-up capital to RM 68,312,000
1993	The opening of Handi-Mart’s first store at lot 110, Jalan Semangat, Petailing Jaya.
1995	The prescription of Security of the Company by the Kuala Lumpur Stock Exchange to be deposited with the Malaysian Central Depository Sdn Bhd
1996	The acquisition of 60.8% equity in Beel Industrial Boilers Plc. U.K. on 2 April 1996
1997	Financial close of US$ 105 million project financing for Independent Power Tanzania Limited, a 70% owned Subsidiary.
1998	Completion of construction of the 100-Megawatt power plant in Tanzania.
2000	Acquisition of Cochran Boilers Ltd.
2001	Sale of plot 2, 9, & 13 of Relau Estates Sdn. Bhd
2002	Merger of boilers operations and services of Beel Industrial Boilers Plc to BIB Cochran Ltd.
2003	Sale of 100% shareholdings in handy-Mart (Malaysia) Sdn Bhd and handy-Mart (USJ) Sdn Bhd.