KUALA LUMPUR: IT solutions provider MM Computer Systems Bhd has submitted its draft prospectus to Bursa Malaysia in conjunction with its listing on the ACE Market, marking a significant milestone in the group’s growth journey.
The IPO aims to enhance MM Computer’s financial strength and visibility as it pursues its next phase of expansion.
The group plans to utilise the proceeds from the listing to procure IT hardware and software to support larger projects, enhance technical and workforce capabilities through recruitment and certifications, and partly repay bank borrowing linked to the group’s new headquarters, as well as cover listing expenses.
Managing director and CEO Young Yoong Chang said the listing on the ACE Market represents an important step in the group’s strategic growth plan, transforming from an established IT solutions provider to a growth-focused technology group.
“It will allow us to capture the market’s growing demand in Malaysia’s growing digital economy, enhance our capabilities and serve clients better,” he said in a statement.
The initial public offering (IPO) will consist of a public issue of 119 million shares and an offer for sale of 47.34 million existing shares.
Of the public issue, 28.35 million shares will be made available for application by the Malaysian public.
Another 28.35 million shares will be allocated to eligible directors, employees, and individuals who have contributed to the success of MM Computer and its subsidiaries.
Additionally, 38.76 million shares will be placed privately with selected investors, and 23.53 million shares will be privately placed with Bumiputera investors approved by the Ministry of Investment, Trade, and Industry (Miti).
Meanwhile, the offer for sale will involve 47.34 million shares through a private placement to Miti-approved Bumiputera investors.
The listing exercise is managed by Malacca Securities Sdn Bhd, the principal adviser, sponsor, underwriter, and placement agent, with SCS Global Advisory (M) Sdn Bhd acting as the corporate finance adviser.
Through its wholly-owned subsidiaries, Micro Technology Solution Sdn Bhd and SMIND Sdn Bhd, MM Computer delivers a full spectrum of IT solutions encompassing IT infrastructure and networking solutions, cybersecurity solutions, and IT outsourcing services.
With 22 years of operational experience, the group serves a diverse portfolio of government-linked companies, enterprises, and corporations.
MM Computer works closely with leading technology principals, including Dell Technologies, Trend Micro, Hewlett Packard Enterprise (HPE), IBM, Sangfor Technologies, and Ruijie Networks, to deliver secure and scalable digital solutions.
For the financial year ended December 31, 2024, MM Computer recorded revenue of RM73.7 million and a net profit of RM8.7 million, underpinned by strong growth in its design, implementation, and configuration of IT solutions, as well as the provision of IT outsourcing services.
This achievement reflects the strong vote of confidence from the group’s customers in its proven capabilities to design, implement, configure, and manage complex IT infrastructures.
As businesses accelerate their digital transformation, the group continues to play a critical role in enabling digitalised IT infrastructure equipped with cybersecurity solutions that safeguard business-critical data and applications.
