Latest news with #iCentsGroupHoldingsBhd
Malaysian Reserve
18 hours ago
- Business
- Malaysian Reserve
Cleanroom specialist iCents Group to raise RM27m from ACE Market IPO at 24 sen per share
CLEANROOM and facility services provider iCents Group Holdings Bhd (iCents Group) has launched its prospectus for an initial public offering (IPO) on the ACE Market of Bursa Malaysia, setting its issue price at 24 sen per share to raise RM27 million. The group's IPO exercise involves a public issue of 112.50 million new shares, representing 22.5% of its enlarged share capital, and an offer for sale of 30 million existing shares or 6.0% of the enlarged share capital. Upon listing, iCents Group will have a market capitalisation of RM120 million based on an enlarged share base of 500 million shares. Applications for the public issue are open from today and will close on July 2, 2025, at 5.00pm. The company is slated to debut on July 17, 2025. — TMR
The Sun
19 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 Sun
06-06-2025
- Business
- The Sun
iCents Group signs IPO underwriting agreement with Alliance Islamic Bank
KUALA LUMPUR: Cleanroom and facility services provider iCents Group Holdings Bhd has inked an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia by July. It said in a statement the IPO encompasses a public issuance of 112.5 million new ordinary shares, representing 22.5% of its enlarged issued share capital, as well as an offer for sale of 30 million existing shares, representing 6% of its enlarged issued share capital. 'Out of the 112.5 million issue shares, 25 million shares will be made available to the Malaysian public via balloting, with 10 million shares to its eligible directors, employees and persons who have contributed to the success of the group, 15 million shares will be made available by way of private placement to selected investors, while 62.5 million shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry,' it said. Additionally, 30 million offer shares will be for selected investors by way of private placement. Group managing director Ong Mum Fei said the signing of the underwriting agreement with Alliance Islamic Bank would provide the company with the financial resources and flexibility needed to accelerate its strategic growth plans. 'As we expand our capabilities, we are committed to enhancing our competitive position within Malaysia's cleanroom industry, as well as executing our geographical market expansion plans in Indonesia, Singapore and Sarawak, through the IPO proceeds,' he said. Meanwhile, executive director Foo Siang Leng said the outlook of the cleanroom industry is positive, supported by steady growth in the semiconductor and electronics, data centre, pharmaceutical and food and beverage sectors, alongside the initiatives under Malaysia's New Industrial Master Plan 2030. 'We aim to capitalise on these opportunities through our growing involvement in these key industries by expanding our operational capabilities, expanding market reach and broadening our product range and addressable markets,' he said. – Bernama
