KUALA LUMPUR: OGX Group Bhd has secured RM72 million worth of projects as of Jan 13, as the IT infrastructure solutions specialist expands its presence in East Malaysia.
Managing director Tan Suan Loong said some of the projects are located in Sabah, where the group has been gaining traction across several sectors.
“In Sabah, we are involved in a few sectors, including the police and education segments. We have secured several good projects there and are working on more upcoming opportunities,” he told a press conference following the company’s listing on the ACE Market of Bursa Malaysia yesterday.
However, the group does not maintain a formal order book as its projects do not follow fixed implementation timelines.
To support its expansion in Sabah, OGX plans to strengthen its presence in the state by hiring additional technical and sales personnel and by placing key products closer to customers.
“We will be hiring additional technical and sales staff there, and we will also place some of our primary products in the state,” Tan said.
He added that Sabah represents a promising growth opportunity for the group, with the company targeting double-digit growth from the market.
Meanwhile, Tan said OGX expects its new facility located near its existing premises in Bukit Jelutong, Selangor, to be operational by mid-2027.
“We have targeted a site close to our current facility, probably three to five minutes away. We are aiming for completion around mid-2027,” he said.
OGX provides enterprise IT infrastructure solutions covering networking, cybersecurity and enterprise data centre infrastructure, primarily serving system integrators that deploy IT solutions for public and private sector organisations.
The company fell about 20% on its maiden trading day on Bursa Malaysia’s ACE Market yesterday amid a broader market decline.
The counter opened at 28 sen, compared with its initial public offering (IPO) price of 35 sen per share.
OGX raised RM52.5 million from its listing to fund expansion initiatives, supported by Malaysia’s growing IT infrastructure market.
Of the total proceeds, 57.14% will be allocated for the acquisition and renovation of a new facility, 4.76% for expanding its portfolio of IT infrastructure brands, and 3.81% for geographical expansion into East Malaysia.
A further 8.57% will be used to repay bank borrowings, while 16.19% will be allocated for working capital to support operational activities. The remainder will be used for listing-related expenses.
At an issue price of 35 sen, OGX had a market capitalisation of RM262.5 million upon listing.
UOB Kay Hian is the principal adviser, sponsor, underwriter and placement agent for the IPO.
