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The Sun
10 hours ago
- Business
- The Sun
iCents escapes impact from US reciprocal tariffs, looks forward to market expansion
KUALA LUMPUR: iCents Group Holdings Bhd, a provider of cleanroom services, will not be impacted by the US reciprocal tariffs as the company does not generate revenue from the United States. However, some of its customers and end-users in Malaysia may be affected, since they manufacture products that are ultimately exported to the US market. Managing director Vincent Ong Mum Fei noted that geopolitical events, financial crises, trade conflicts – including sanctions and tariffs – and technological shifts could effect the business. He highlighted that, within Malaysia, changes in political, economic or regulatory conditions affecting the semiconductor and electrical and electronics sectors may also impact the company's operations and financial performance. 'Our core focus is on design, functionality, and leadership within our industry. We handle everything from design and installation to production, collection and management. 'While there is no immediate impact from US developments or tariffs on our operations, we are mindful of potential indirect effects, especially as many companies adopt a 'wait and see' approach to ongoing global changes. 'However, we continue to see steady demand through our recurring projects and established central control systems,' Ong told reporters today after launching the prospectus in conjunction with the company's initial public offering (IPO). iCents provides services covering engineering, procurement, construction, and testing and commissioning (EPCC) of cleanrooms. The group also manufactures cleanroom fixtures and related products. In addition to its cleanroom expertise, iCents provides a range of other facility services, including the hook-up of machinery and equipment, supply and installation of heavy-duty ceiling systems, construction services, and maintenance services for other facilities. The group's services cater to highly technical industries, semiconductor and electronics, data centres, life sciences and pharmaceutical product manufacturing. As of June 5, the group reported an unbilled order book totalling RM93.21 million. This amount includes RM53.53 million from its cleanroom services segment and RM39.68 million from its other facility services segment. iCents plans to set up a facility close to its Mantin factory to increase capacity to store materials and finished products. The new facility will be in rented premises with built-up area of about 20,000 sq ft that already has all required regulatory approvals. Beyond Malaysia, iCents plans to set up a sales and technical support office in Jakarta, Indonesia, to provide an operational base to grow its business. It also intends to set up a sales and marketing office in Singapore, and a sales and technical support office in Kuching, Sarawak, to extend the group's physical presence to East Malaysia. iCents aims to raise RM27 million from its ACE Market listing. Out of that, RM4.68 million (17.31%) will allocated for the purchase of machinery and equipment, RM3.02 million (11.19%) for business expansion, RM1.72 million (6.35%) for product development, RM1.5 million (5.56%) for marketing activities, RM12.09 million (44.77%) for working capital and RM4 million (14.82%) to cover estimated listing expenses. iCents' IPO encompasses an issuance of 112.5 million shares, of which 25 million will be balloted to the Malaysian public, 10 million reserved for eligible directors, employees, and contributors, 15 million will be privately placed with selected investors, and 62.5 million will be privately placed with Bumiputera investors approved by the Ministry of Investment, Trade and Industry. Additionally, 30 million shares will be privately placed with selected investors. iCents will have a market capitalisation of RM120 million upon listing, which is scheduled for July 17, based on an enlarged issued share capital of 500.00 million shares and an IPO price of RM0.24 per share. Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter and placement agent for iCents' IPO. In terms of financial performance, the group's revenue increased from RM55.78 million in the financial year ended June 30, 2022 (FY22) to RM80.7 million in the financial year ended June 30, 2024 (FY24). Over the same period, the group's net profit rose from RM2.90 million to RM7.02 million, representing a compound annual growth rate of 55.57%. For the six-month financial period ended Dec 31, 2024, the group recorded revenue of RM43.93 million and net profit of RM5.03 million. Ong said the prospectus launch marks a significant milestone for iCents, underscoring commitment to growth and excellence. With a decade of experience and a proven track record in delivering cleanroom projects for several multinational corporations, iCents is ready to embark into a new phase of growth journey and strengthen market presence, he added. 'The IPO proceeds will support key initiatives towards our business expansion plans including the purchase of machinery and equipment to enhance our in-house manufacturing capabilities, strengthening and expanding our presence across foreign geographical markets such as Indonesia, Singapore, and Sarawak, as well as the funding for working capital requirements,' Ong said.
The Star
11 hours ago
- Business
- The Star
ACE Market-bound iCents group eyes regional growth after listing
From left: iCents Group executive director Tan Wei Ying, executive director Foo Siang Leng, substantial shareholder Faye Khor Fei Yi, managing director Vincent Ong Mum Fei, independent non-executive chairperson Lim Bee Vian, Alliance Islamic CEO Rizal IL-Ehzan Fadil Azim, Alliance Bank Malaysia group chief corporate and institutional banking officer Teoh Chu Lin and Alliance Islamic Bank head and senior vice-president of coverage and origination of Islamic capital markets Lim Shueh Li KUALA LUMPUR: Cleanroom and facility services provider iCents Group Holdings Bhd (iCents Group) plans to expand its operations to Singapore and establish new offices in Kuching and Indonesia following its listing on the ACE Market of Bursa Malaysia on July 17, 2025. Group managing director Vincent Ong Mum Fei said the company aims to expand to Singapore and is currently preparing a proposal. He added that funds raised from its initial public offering (IPO) will also be used to establish offices in Kuching and Indonesia, supporting its operations in these areas. "As for Kuching, we currently have ongoing service activities there, with two projects in progress. After the IPO, we also plan to set up an office to serve the Kuching market and expanding our product range is always important," he said at the press conference held in conjunction with the company's prospectus launch. iCents Group aimed to raise RM27 million from its IPO, and of the proceeds, RM4.68 million would be utilised for the purchase of machinery and equipment, RM3.02 million for business expansion, RM1.72 million for product development, RM1.5 million for marketing activities, RM12.09 million for working capital and RM4 million for estimated listing expenses. Ong said the company would be setting up a facility in Mantin, Negeri Sembilan, this year. Meanwhile, Ong said iCents Group has not seen any immediate impact from the tariff imposed by the United States. The company's cleanroom services cater to the semiconductor, electronics, data centres, pharmaceutical, and life sciences sectors, among others. "We have not seen any immediate impact from the new tariffs. Currently, many companies, especially in the semiconductor sector, are taking a 'wait and see' approach. "That said, there has been a minor impact on capital expenditure," he said. In a statement released today, iCents Group said its IPO exercise encompassed a public issuance of 112.50 million new ordinary shares, representing approximately 22.50 per cent of its enlarged issued share capital upon listing, as well as an offer for sale of 30 million existing shares, representing approximately six per cent of its enlarged issued share capital. Out of the public issue of 112.50 million issue shares, 25 million issue shares will be made available to the Malaysian public via balloting, and 10 million issue shares will be made available to its eligible directors, employees and persons who have contributed to the success of the group. Another 15 million issue shares will be made available through private placement to selected investors, while the remaining 62.50 million issue shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry. "Additionally, all 30 million offer shares to be offered for sale will be offered to selected investors by way of private placement," it added. Following the prospectus launch, applications for the public issue are open from today and will be closed on July 2, 2025, at 5 pm. Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter and placement agent for the IPO exercise. - Bernama
