6 days ago
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.
