Latest news with #ACEMarket
The Star
6 days ago
- Automotive
- The Star
Valet Technology eyes 1Q26 listing on ACE Market
PUTRAJAYA: Valet Technology Sdn Bhd is gearing up for an initial public offering (IPO) on Bursa Malaysia's ACE Market in the first quarter of financial year 2026 (1Q26) as the company ramps up its expansion into cyber and identity security solutions. Chief executive officer Puan Sri Rayana Abdul Rahman said the planned listing will support the company's ambitions to grow beyond Malaysia and strengthen its research and development (R&D) capabilities. 'We are on track for an IPO early next year. While capital is one reason, this move is about laying a stronger foundation for our identity security and R&D pipeline,' she told Bernama. Established in 1995 as a provider of traditional human-based security services, Valet Technology has evolved into a homegrown tech player with a 200-strong workforce and a network of more than 1,000 system integrators (SIs) nationwide. Rayana said the company started with conventional security but saw the potential in growing together with smaller entrepreneurs. Today, its SIs carry the products across the country, and Valet Technology supports them with training and tools. She said the company currently supports key government clients, including the Immigration Department and various ministries – Transport, Home Affairs, Higher Education and Health – largely through its SI partners. Notably, Valet Technology, through its SIs, supplies around 200 boom gates at the CIQ complex and Tuas (second link) for pedestrian and public transport. 'We assist our SIs throughout the tender process and back them up with technical expertise and product know-how,' she said, adding that the firm's revenue now stands at about RM25mil, with expectations for a stronger performance following the IPO. Best known for its VT Series sliding gate motors, Valet Technology has expanded into digital and cyber security, a move that includes the rollout of Valet Shield, an AI-powered scam call detection system developed with its US-based partners. The firm is currently engaging with Oman's Transport and Technology Ministry, as well as state telecommunications firm Omantel, under the ITHCA Group, to implement the technology in the Middle East. The company is also eyeing potential collaborations in Indonesia and within the African continent. The company has also secured a Skills Development Department licence to offer TVET-level training in electronics via its in-house academy. Rayana added that Valet Technology's upcoming expansion into identity security will be anchored by a new division in Cyberjaya, positioning the company for its next phase of growth.
New Straits Times
6 days ago
- Business
- New Straits Times
Valet Technology eyes Q1 2026 ACE Market listing
KUALA LUMPUR: Valet Technology Sdn Bhd is preparing for a debut on Bursa Malaysia's ACE Market in the first quarter of 2026, as the company accelerates its push into cyber and identity security solutions. Chief executive officer Puan Sri Rayana Abdul Rahman said the proposed initial public offering (IPO) is part of a broader strategy to scale beyond Malaysian borders and deepen the company's research and development (R&D) efforts. "We are on track for an IPO early next year. While capital is one reason, this move is about laying a stronger foundation for our identity security and R&D pipeline," she told Bernama. Founded in 1995 as a traditional manpower-based security services provider, Valet Technology has since transformed into a dynamic, homegrown technology company. Today, it boasts a workforce of over 200 and collaborates with a nationwide network of more than 1,000 system integrators (SIs). Rayana revealed that the company currently generates annual revenue of around RM25 million, with expectations of stronger growth momentum post-listing. She noted that the future of security lies in the seamless integration of physical and digital domains. This convergence will define not just Malaysia's security landscape, but the broader regional industry as well, she added. Rayana stressed the importance of sustained collaboration between public and private sectors in the face of rapidly evolving digital threats. Digital risks are evolving fast, and the threat landscape is constantly shifting, she said, adding that a strong public-private collaboration is required to keep pace. Valet Technology's next chapter will be anchored by its new identity security division in Cyberjaya, a move designed to position the company for long-term regional expansion.
New Straits Times
10-06-2025
- Business
- New Straits Times
ASM Automation valued at 21 sen, 24pct above IPO ahead of July 2 debut
KUALA LUMPUR: ACE Market-bound ASM Automation Group Bhd (ASM) boasts a fair value estimate of 21 sen, representing a 23.5 per cent upside from its initial public offering (IPO) price of 17 sen, according to Malacca Securities Sdn Bhd. The firm said the valuation is based on a forward price-to-earnings ratio of 15 times, applied to the automation machinery solutions provider's projected mid-point earnings per share of 1.38 sen for the financial year 2026. "We believe the discount is justified given ASM's smaller market capitalisation, coupled with its single-digit top line growth," the brokerage said in a research report released Tuesday. ASM is scheduled to debut on Bursa Malaysia's ACE Market on July 2. The IPO, which opened for application on May 29 until June 19, is expected to raise RM21.8 million. The bulk of the proceeds will fund business expansion, with 52.2 per cent earmarked for land and factory construction, 10.5 per cent for demonstration machinery and 9.2 per cent for design and development. The remainder will be used for working capital and listing expenses. According to Malacca Securities, ASM holds just a one per cent share of the automation machinery solutions market, but its ability to offer end-to-end automation for food and beverage (F&B) manufacturers is seen as a key strength. "This is reflected in its notable average customer base of 220 as per Financial Years Under Review, including prominent clients like Adabi Consumer Industries Sdn Bhd and Malayan Flour Mills. "ASM's D&D capabilities have also long been hidden gems that F&B manufacturers have yet to recognise," the firm said. Unlike many of ASM's competitors that only supply machinery, the firm said ASM is able to customise its solutions to meet a wide range of manufacturing needs and industry applications. ASM's market versatility is also evident in its involvement beyond F&B, including sectors such as poultry and currency note sorting, which enhances its growth potential. "Given this flexibility, clients are able to utilise more of their manufacturing space, leading to better factory space utilisation and enabling better economies of scale — a win-win situation. "Aligned with government initiatives to shift Malaysia towards a digital economy, ASM intends to enhance its internet of things solutions and robotics technology through its in-house engineering and development with approximately RM2.0 million," the firm added. For the financial year 2024, ASM posted a net profit of RM7.1 million and revenue of RM39.13 million, with a healthy balance sheet. Despite a modest 1.5 per cent earnings compound annual growth rate over three years, ASM is viewed as having stable prospects, underpinned by customised solutions, a stronger capital base and alignment with Malaysia's automation agenda. However, key risks include project delays, supply chain disruptions, talent retention issues, and geopolitical or regulatory uncertainties.
The Sun
09-06-2025
- Business
- The Sun
Hartanah Kenyalang hopeful of securing more Sarawak infrastructure projects
KUALA LUMPUR: Sarawak-based building and infrastructure construction company Hartanah Kenyalang Bhd expects to secure 10% to 15% of projects with an aggregate contract value of RM451 million that it has tendered for by the end of 2025. 'Many of the projects are open tender, so there are many tenders involved. However, one of the projects related to power substation, I believe we will have a better chance (of securing),' managing director Seah Boon Tiat said after the listing of the company under the construction sector on the ACE Market of Bursa Malaysia today. He noted that Sarawak produces 3.5 gigawatts of green energy and this is expected to increase to 10 gigawatts in 2030. 'This energy will go to the substation, so our job here is tendering for substation projects and this will benefit our company. We have started tendering for these projects since last year,' Seah said. He added that the Sarawak government has allocated RM1 billion allocated for the development of bridges and road projects. 'Currently we are doing one project and have tendered for another one bridge project as well. It's a design and build type project ... so hopefully we have some chances to follow through with them,' he said. The company has also tendered for water projects in Sarawak, including water treatment plants. Hartanah Kenyalang made a muted debut on the ACE Market, opening at its initial public offering (IPO) price of 16 sen per share. Its share price closed at 14.5 sen. The company raised RM19.3 million through a public offering of 198.4 million shares, representing 32% of its enlarged share capital of 620 million shares. Its IPO was oversubscribed by 5.33 times. At listing, Hartanah Kenyalang's indicative market capitalisation was about RM99.2 million. Hartanah Kenyalang has recorded strong financial growth, with revenue increasing from RM34.1 million for financial year ended Oct 31, 2021 to RM127.6 million for financial year ended Oct 31, 2024, a compounded annual growth rate (CAGR) of 55%. During that period, profit after tax increased at a CAGR of 24%, growing from RM4.8 million to RM9.2 million. TA Securities Holdings Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent of Hartanah Kenyalang's IPO. 'Today, with RM19.3 million in funding raised from our IPO exercise, we are going to utilise approximately RM3 million of the IPO proceeds to purchase six new excavators in order to increase our capacity and productivity,' Seah said. 'We also plan to expand into offering design and build services for our building construction services segments and infrastructure construction services segments by investing in the Building Information Modelling (BIM) System.' Deputy managing director Seah Boon Kee said BIM helps architects coordinate their designs for a building, reduce errors of construction and speed up the process of construction. 'Thus far, we have one state archived project where we use BIM.'
Borneo Post
09-06-2025
- Business
- Borneo Post
Hartanah Kenyalang raises RM19.3 million from ACE Market debut
Boon Kee (fourth from left) and Boon Tiat (fifth from right) during the gong hitting ceremony in conjunction with Hartanah Kenyalang Berhad's ACE Market debut on Monday morning. KUCHING (June 9): Sarawak-based construction company Hartanah Kenyalang Berhad has successfully raised RM19.3 million through its initial public offering (IPO) on the ACE Market of Bursa Malaysia this morning. The stock opened at 16 sen, unchanged from its initial IPO price of 16 sen per share. Non-independent executive director and deputy managing director Seah Boon Kee said the company is satisfied with the debut despite ongoing global trade tensions. 'So far, it seems okay to us at this moment. Of course, the current market sentiment is affected by trade issues between two major global economies. 'But we believe this does not reflect the true value of our company. As the price is stable at this moment, so far so good,' he told reporters at a press conference after the listing. Hartanah Kenyalang is an investment holding company, while its wholly owned subsidiary, Hartanah Construction Sdn Bhd, provides building construction services focused on institutional and non-residential buildings and infrastructure works such as bridges and roads. The group has been operating in Sarawak's construction industry since 2010. Seah said the company's primary focus remains on government projects. 'We are mainly focusing on government contracts, especially from departments like Public Works Department (JKR), Sarawak Rural Water Supply Department (JBALB) and Sarawak Energy Berhad (SEB). 'We are also looking at other sectors (beyond government projects) to diversify our base, but the majority of our work still targets Sarawak government projects. 'Sarawak is booming right now, and we want to have this opportunity to grow together with Sarawak,' he said, adding that the group has no immediate plans to expand beyond Sarawak. 'Our concentration will still be in Sarawak for now,' he added. Managing director Seah Boon Tiat in a statement said the company sees strong prospects in the state as the Sarawak government has allocated around RM1 billion for the construction of roads and bridges to enhance infrastructure and connectivity. 'As of April 30, 2025, we have tendered for various projects worth a combined RM451 million. 'One of these is a bridge project using the design and build method, incorporating Building Information Modelling (BIM) into our operations. This will allow us to move up the construction value chain and improve our competitiveness,' he said. Ahead of the listing, Hartanah Kenyalang's shares saw strong demand from public investors with applications exceeding the available public portion by 5.33 times. From the RM19.3 million raised, RM3 million will go towards the purchase of six new excavators to boost capacity and productivity. RM10.5 million will be allocated for project working capital, mainly for payments to subcontractors and suppliers. Another RM2.1 million will be used to repay bank loans and RM3.8 million for listing expenses.
