PEOPLElogy to scale up people development services by 2026
KUALA LUMPUR: PEOPLElogy Bhd aims to expand its integrated people development solutions across Sabah, Sarawak and the Southeast Asian region by 2026.
Founder and managing director Allen Lee said the group will set up offices and training centres in Kota Kinabalu and Kuching to tap into local upskilling demand.
Beyond Malaysia, PEOPLElogy is targeting Indonesia, the Philippines and Singapore to meet rising demand for digital talent across the region.
'By next year, we should be in Sabah and Sarawak. I spent almost nine months in 2023 visiting Singapore, the Philippines, Indonesia and Vietnam — so I have a strong grasp of this region's market potential. We're targeting 2026 for our regional rollout,' he told reporters after the company's debut on the ACE Market of Bursa Malaysia yesterday.
Lee said PEOPLElogy's current operations are almost entirely based in Malaysia, contributing over 99% of its revenue, yet its future growth hinges on regional expansion.
'We don't expect any contribution from Indonesia or the Philippines in 2025,' Lee said.
While regional expansion will only begin contributing in 2026, he said, the company sees huge untapped potential in both domestic and regional markets.
'Our market share in Malaysia is still low — around 1.5% to 2% — so there's still a lot of room to grow here,' he added.
PEOPLElogy opened at 24 sen, slightly below its initial public offering price of 25 sen apiece.
'I urge the market to look beyond just investment returns and profits. You're also investing in a company that's driving national transformation. Let's take a long-term view,' he said.
Based on PEOPLElogy's enlarged share capital of 411,716,936 shares and the IPO price of RM0.25 per share, the company's total market capitalisation is approximately RM102.93 million.
With a total of RM26.25 million in gross proceeds raised from the IPO, PEOPLElogy will utilise 32.38% of the proceeds to finance the establishment of a Cyber Range computer simulation lab; 15.24% for the expansion through strategic investments, mergers and acquisitions opportunities; 11.43% for software research and development; 11.05% for the expansion of offices and training centres in Indonesia and Philippines; 3.81% for the expansion of offices and training centres in East Malaysia; and 0.38% for setting up regional office in Singapore. The remaining proceeds will be used as working capital and listing expenses.
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