PEOPLElogy launches IPO prospectus, sets sights on expanding regional footprint

The Sun

21-04-2025

KUALA LUMPUR: PEOPLElogy Bhd, a provider of integrated people development solutions, will ramp up its regional expansion efforts, managing director Allen Lee said at the launch of the prospectus for the company's initial public offering (IPO).
He said PEOPLElogy is committing 14.86% to physical expansion and 15.24% of IPO proceeds to merger and acquisition opportunities.
'We will establish new training centres in Kota Kinabalu and Kuching within the next 12 months, and new regional offices in Indonesia, the Philippines and Singapore.
'We see East Malaysia as a golden opportunity. Local B2B and B2G stakeholders are eager for committed providers to build digital talent pipelines. PEOPLElogy has already been in discussions with multiple stakeholders across Sabah and Sarawak,' he said in a press conference held in conjunction with the prospectus launch today.
Lee noted that a standout component of PEOPLElogy's post-IPO strategy is the establishment of a Cyber Range simulation lab, which will absorb 32.38% of IPO proceeds.
'The lab is designed to simulate real-world cyber attack scenarios using immersive, gamified environments – an innovation PEOPLElogy believes will redefine how cybersecurity training is delivered in the region.
'Instead of traditional classroom training, our cyber lab uses environmental triggers, colours and even sirens to fully engage learners. It is not just technical training – it is an experience. And that makes a huge difference in how people retain and apply critical digital skills,' he said.
The company aims to raise RM26.25 million from the offering, which consists of 105 million new shares at an issue price of 25 sen each, valuing PEOPLElogy at RM102.93 million upon listing.
On potential acquisition targets, Lee said PEOPLElogy is in active conversations with players in Malaysia and Southeast Asia.
'We have spent time understanding the landscape, especially last year when I visited over 60 firms overseas. We are speaking with training providers, consulting firms, and tech companies that complement our 6D framework,' he said, referring to PEOPLElogy's proprietary end-to-end talent development model.
Lee addressed investor concerns surrounding client concentration, notably the company's historical reliance on Yayasan Peneraju, which contributed 40% of its revenue in 2023.
'This figure has already declined significantly, from 70% in 2021 to 50% in 2024, reflecting its ongoing client diversification strategy. As shown in our revenue segmentation, we have been expanding our B2C segment aggressively. The contribution from individual consumers is on a strong upward trend, alongside our traditional B2B and B2G streams.
'This is not just about reducing reliance on government clients, but also about tapping into new income streams that align with the future of work,' he said.
For the 2024 financial year, PEOPLElogy recorded revenue of RM29.24 million, with profit after tax at RM5.47 million. Its services span digital certifications, soft skills and leadership training, talent consultancy and artificial intelligence-powered learning platforms such as PEOPLEAPS and SKILLSTURE.
Despite volatile market conditions, Lee said the company believes the timing of the listing is right. 'There's never a perfect market. But our vision is clear, and the IPO is a step forward to scale our mission across Asean.'