Maistorage Technology Targets Bursa Malaysia Listing By 2028
REGION - CENTRAL > NEWS
PUTRAJAYA, May 22 (Bernama) -- Newly launched MaiStorage Technology Sdn Bhd is eyeing a listing on Bursa Malaysia by 2028.
Founder and group chief executive officer Datuk Pua Khein Seng said MaiStorage has already commenced its initial public offering (IPO) plan, which aims to retain engineering talent and align staff interests with the company's long-term growth.
'We plan to let the engineers, staff be the shareholders of the company with the initial value of the company. When the company goes for an IPO and starts making money, we can give dividends. The staff can enjoy the benefits of the company going public and improve their lives,' he said in his welcoming speech at the official launch today of MaiStorage Technology.
bootstrap slideshow
The event was graced by Prime Minister Datuk Seri Anwar Ibrahim and was attended by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Transport Minister Anthony Loke Siew Fook and Human Resources Minister Steven Sim.
MaiStorage is an integrated circuit (IC) design and storage technology provider that caters to the data center, artificial intelligence (AI) applications and the automotive industries in Malaysia.
Backed by parent company Phison group's over two decades of experience and know-how, MaiStorage offers the PASCARI enterprise solid-state drive (SSD) solutions and aiDAPTIV+ AI Large Language Model (LLM) training and AI-driven innovations for customers.
Pua said since starting operations in August last year, MaiStorage has hired and trained 50 young graduates to be IC design engineers and is on track with its commitment to train 175 young Malaysian engineers by 2026. He said that through deep collaboration across the industry and the Malaysian government, MaiStorage can aid and accelerate the country's transition from a tech user to a tech creator.
Over this same period, MaiStorage has a healthy stable of clients that include the federal and state government, educational institutions, software development firms, as well as national research and development agencies.
By offering both enterprise storage solutions and design services, the company has achieved a break-even point, a remarkable performance in less than one year of operations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Express
an hour ago
- Daily Express
Woman says boss demanded live location during leave
Published on: Sunday, June 22, 2025 Published on: Sun, Jun 22, 2025 Text Size: For illustrative purposes only. KUALA LUMPUR: A Malaysian woman has sparked online debate after claiming her boss demanded she share her live location while on leave or risk being marked absent. In a June 10 social media post, she questioned whether the policy was 'normal', saying her boss applied it even for overseas travel. She alleged that her leave applications were held up unless she complied with the new company rule, though she ultimately refused and did not disclose her location. Her experience, which reportedly occurred while visiting an island off Malaysia, triggered hundreds of online responses condemning the practice as invasive and unlawful. She has since threatened to report the matter to the Labour Department, noting the demand extended to sick and unpaid leave as well. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
2 hours ago
- The Sun
Malaysia optimistic trade with Uzbekistan will pick up, says envoy
TASHKENT: Malaysia is optimistic about a potential increase in trade with Uzbekistan, as both countries work to deepen cooperation in new areas such as halal certification, Islamic finance, tourism and green technology. In an interview with Bernama and RTM, here, Malaysian ambassador to Uzbekistan Ilham Tuah Illias acknowledged a recent drop in trade volume, mainly due to import tax on palm oil. However, he expressed confidence in a potential turnaround. 'We are hopeful that trade will pick up, if both governments can agree to waive or continue waiving the (import) tax on Malaysian palm oil. This would enable Uzbek retailers here to resume sourcing their palm oil supply from Malaysia,' he said. In 2024, Malaysia-Uzbekistan trade reached RM369.8 million, making Uzbekistan Malaysia's second-largest trading partner in Central Asia. The trade balance was in Malaysia's favour at RM360.3 million. From January to April 2025, trade between both countries reached RM106 million. Major exports from Malaysia to Uzbekistan include palm oil, coffee, palm-based oleochemical, margarine and shortening, processed food and coconut oil. Imports from Uzbekistan comprise mainly fertilisers, fruits and textiles. Ilham Tuah said the 5% tax on Malaysian palm oil is being reconsidered by Uzbek authorities. A continued exemption could significantly boost Malaysia's exports. 'We hope this move will encourage Uzbek buyers to continue to source their supply from Malaysia. Discussions between the relevant authorities in both countries will be essential in finding a mutually beneficial solution,' he added. The ambassador emphasised the importance of raising public awareness in Uzbekistan about the health benefits of palm oil. 'We must continue educating the Uzbek people about the nutritional value of palm oil and counter the negative narratives promoted by certain parties.' On the tourism front, Ilham Tuah highlighted that over 15,000 Uzbek tourists visited Malaysia last year – a significant increase from previous years, driven by enhanced air connectivity, including direct flights by Batik Air and Uzbekistan Airways. 'This improved connectivity benefits not only tourists but also students from Uzbekistan. Many are drawn to Malaysia's beaches, as Uzbekistan is a landlocked country.' He also noted a growing interest among Malaysian travellers in Uzbekistan, particularly for spiritual tourism. 'Many Malaysians visit Uzbekistan particularly for spiritual reasons. They love to explore the Imam Al Bukhari Mausoleum, which is currently under renovation. Once completed, it is expected to become a favourite destination for Malaysians,' he added. Ilham Tuah noted strong interest in Malaysian halal certification in Uzbekistan, and said the Malaysian Islamic Development Department has signed a memorandum of understanding with the relevant Uzbek authorities to strengthen cooperation in halal certification efforts. 'This collaboration will help local products meet Malaysian halal standards, potentially opening access to broader markets that recognise our certification.' To facilitate smoother trade and investment, both countries are exploring the possibility of establishing a preferential trade agreement. Ilham Tuah said with such a framework, Malaysia could send semifinished goods for final processing in Uzbekistan, which has access to markets in the European Union and Eurasia. 'It's a win-win for both sides. A preferential trade agreement between Malaysia and Uzbekistan is something we are actively considering ... so the relevant agencies of both countries should meet up to discuss and explore this further,' he added. Ilham Tuah also noted the growing demand in halal consumer goods and Muslimah fashion. 'Muslimah fashion is making a strong comeback here. So I encourage Malaysian women entrepreneurs to engage with their counterparts here. There is huge demand here for Muslimah fashion, cosmetics and halal products,' he concluded. – Bernama
The Sun
2 hours ago
- The Sun
Skyline Optical Group appoints MPI Capital as financial adviser for proposed SGX listing
PETALING JAYA: Malaysian eyewear distributor Skyline Optical Group Sdn Bhd has appointed MCI Capital Sdn Bhd as financial adviser for a proposed initial public offering (IPO) on the Singapore Exchange (SGX). Skyline Optical Group founder Frian Lin said the proposed listing represents a pivotal milestone in the company's strategic expansion plans as it seeks to leverage Singapore's robust capital markets to fuel its next phase of regional growth. 'This is more than just a listing. It represents our commitment to establishing Skyline Optical as the premier B2B eyewear distribution platform across Southeast Asia,' he said. MCI Capital said that together with its experienced team of capital markets professionals, its role as adviser will include overall capital markets strategy, listing readiness, regulatory compliance, liaison with and coordination of professionals and assistance with capital structure optimisation. MCI Capital chairman and partner Datuk Cannis Chan said Skyline Optical Group represents an established, profitable company with strong growth prospects that resonates with international investors, particularly on the SGX. 'We are excited to work closely with Frian and his team to help unlock greater access to capital, enhanced brand visibility, and a robust platform for international expansion across the eyewear distribution sector.' Skyline Optical Group has been a distributor of eyewear frames and sunglasses in Malaysia since 2008, fostering strong relationships with international brands and establishing a distribution network across the region. The company has demonstrated consistent growth through strategic expansion, including the establishment of J & J International Eyewear Sdn Bhd in 2022 and Tag Spec Sdn Bhd in 2023. The company is evaluating the optimal listing structure and timeline, with the final decision to be made following the completion of due diligence processes and receipt of regulatory approvals from relevant authorities. 'Further announcements will be made in due course to update stakeholders on the proposed listing timeline, structure and any related corporate developments,' Skyline Optical Group said. In addition to the IPO adviser appointment, Skyline Optical Group and MCI Capital announced the launch of a joint corporate social responsibility (CSR) initiative targeting the B40 income community in the Klang Valley. The programme will provide 6,000 pairs of prescription glasses free of charge to underprivileged families, addressing critical vision care needs while demonstrating both companies' commitment to social impact alongside business growth. 'This CSR initiative reflects our belief that sustainable business success must be accompanied by meaningful community contribution,' said Lin. Skyline Optical Group's business portfolio encompasses comprehensive eyewear distribution services, specialising in B2B wholesale operations for optical frames and sunglasses, serving retailers and optical chains across Malaysia and the broader Southeast Asian region.
