Latest news with #PuaKheinSeng
The Sun
22-05-2025
- Business
- The Sun
Phison's newly launched MaiStorage Technology eyes IPO in 2028
PUTRAJAYA: Phison Electronics Corporation's newly launched subsidiary MaiStorage Technology Sdn Bhd is eyeing an initial public offering (IPO) in 2028 to support expansion and to retain talent. Founder and group CEO Datuk Pua Khein Seng said the capital it raises from the IPO will be used to build the company's own research and development (R&D) centre. 'We are currently renting an office from the Selangor state government, which can accommodate about 200 to 250 people. As we continue to grow, we'll need to secure land and construct a custom-built R&D facility. That's what the IPO capital will mainly fund,' he said at a press conference after the official launch of MaiStorage Technology by Prime Minister Datuk Seri Anwar Ibrahim today. MaiStorage plans to build and expand its integrated circuit (IC) design team focused on NAND flash controller chip design – a critical component of modern storage and computing systems. Pua said since starting operations in August 2024, the Phison-backed company has trained 60 local IC design engineers and is on track to train 175 by 2026. 'We are working very closely with TalentCorp to train another 150 engineers over the next three years,' he added. He stressed that these are real, capable IC design engineers, not factory operators. 'So how do we retain engineers? The only way is through an IPO. That's what I've learned from Taiwan's Hsinchu Science Park, as well as from Shenzhen, Shanghai, and Beijing,' Pua said. 'That's why we've launched a three-year programme to take MaiStorage public on the Malaysian stock exchange by 2028.' However, Pua said the business operates with internal capital from 'cash rich' Phison and is not dependent on external fundraising for growth. 'By the end of CQ1, overall the company, our investment was RM100 million. Now the net value is over RM100 million. So we earn like around RM4 million already.' Furthermore, the company aims to position Malaysia as a technology hub in Asia. 'We have a partner from Thailand coming in to work with us on licensing and transferring our AI technology to Thailand. Every government wants on-premises AI. Cloud is good, but it's expensive and compromises data privacy,' Pua said. He added that there is also a knowledge gap. 'We brought in the technology, trained the trainers here, and now they are building their own ecosystem to train students and IT managers.' Pua sees this training-and-ecosystem model as a replicable export. 'This model will first be exported to Thailand, and hopefully, we can expand it to the Middle East as well.' MaiStorage is an IC design and storage technology provider that caters to the data centre, AI applications and the automotive industries in Malaysia. It offers SSD solutions and aiDAPTIV+ AI LLM training and fine-tuning platform on-premises to enhance performance, security, and AI-driven innovations for customers.
The Star
22-05-2025
- Business
- The Star
Maistorage Technology targets Bursa Malaysia listing by 2028
PUTRAJAYA: 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. 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. "Overall, our investment was RM100 million, and the net asset value now exceeds that. So far, we have already generated around RM4 million in profit,' Pua told reporters in a press conference. He said that while MaiStorage is on the right path in terms of scaling its operations and profitability, and developing local talent, the company is already looking ahead to ensure that it can achieve its goals of putting Malaysia on the global semiconductor and tech stage. Over the next three years, MaiStorage said it is focused on NAND Flash Controller IC research and development (R&D) in Malaysia, AI applications and Edge AI solutions for regional markets and collaboration with the Ministry of Education - AI Classrooms for Schools. - Bernama
Barnama
22-05-2025
- Business
- Barnama
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.
Malay Mail
22-05-2025
- Business
- Malay Mail
Pendrive pioneer KS Pua's startup eyes IPO by 2028 to keep Malaysian talent at home
PUTRAJAYA, May 22 — Tech innovator Datuk Pua Khein Seng said today that his local startup, MaiStorage Technology Sdn Bhd, is slated for an initial public offering (IPO) by 2028, as part of efforts to retain trained Malaysian talent and reverse the country's brain drain. Pua, widely credited with inventing the first single-chip USB flash drive, said the IPO's top priority is to offer shareholding opportunities to employees and other stakeholders. 'If I can train these engineers, are they going to stay in their homeland? 'Unfortunately, most engineers when they mature, they leave. So how do we retain them? The only way is by IPO,' he said in his speech during the official launch of MaiStorage at Le Meridien Putrajaya here. Since beginning operations in August last year, Pua said MaiStorage has made significant progress in establishing its base in Malaysia. To date, the company has hired and trained 60 young integrated circuit (IC) design engineers, and achieved break-even profitability in under a year of operations. MORE TO COME
Malay Mail
22-05-2025
- Business
- Malay Mail
Malaysia takes a leap in AI and IC design as PM Anwar backs pendrive pioneer KS Pua's new venture
PUTRAJAYA, May 22 — Prime Minister Datuk Seri Anwar Ibrahim today officially launched a venture founded by technologist Datuk Pua Khein Seng, praising it as a great leap for Malaysia in the field of Artificial Intelligence (AI) and the global integrated circuit (IC) design industry. Speaking at the official launch of MaiStorage Technology Sdn Bhd, Anwar said the venture would allow Malaysia to demonstrate its commitment to digital transformation — one of the regional bloc's future priorities — during the 46th Asean Summit this weekend. 'Today's launching definitely relates to what we will be addressing this weekend when we meet Asean leaders. 'Surely with this launch, we can showcase not just mere platitudes and pronouncements,' he said in his speech at Le Meridien Putrajaya here. Widely regarded as 'the father of USB drives,' Pua is both the founder and chief executive of MaiStorage. MaiStorage — a subsidiary of Taiwan-based Phison Electronics Corporation — is currently spearheading efforts to push Malaysia towards the generative AI era and position the country as a potential powerhouse in the global integrated circuit (IC) design industry. The venture, which included a technology transfer worth over RM1 billion, was previously one of the major highlights of the KL20 Summit held last year. MORE TO COME
