Power engineering solutions provider EI Power Berhad (EIP) has launched its prospectus in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
(From Left to Right) Datuk Wira Sam Ooi Chin Khoon (拿督威拉黄贞焜), Group Managing Director of OCK Group Berhad, Datuk Jamaludin Bin Nasir, Independent Non-Executive Chairman of EI Power Berhad, Ms. Sharon Mak May Cheng (麦美清女士), Executive Director cum Chief Operating Officer of EI Power Berhad, Ir. Albert Chang Wan Siong (曾运祥先生), Executive Director cum Chief Executive Officer of EI Power Berhad, Datuk Bill Tan Choon Peow (拿督陈俊㟽), Managing Director of M & A Equity Holdings Berhad, Mr. Gary Ting Hua Tai (丁华代先生), Head of Corporate Finance of M & A Securities Sdn Bhd
Headquartered in Shah Alam, EIP is involved in engineering, procurement, construction and commissioning (EPCC) services for mission-critical, conventional and renewable energy power solutions. Its services include design, project management, supply, installation, testing, commissioning and maintenance of diesel generation systems, fuel distribution systems and solar photovoltaic (PV) systems.
The group has built a strong presence in mission-critical facilities such as data centres and semiconductor plants, while also serving commercial, industrial, residential and solar farm projects across Peninsular Malaysia.
Since 2022, EIP has completed 146 projects with a combined value of RM188.2 million. As at March 24, 2026, the group had an unbilled order book of RM99.9 million, mainly driven by data centre projects, reflecting continued demand for reliable power solutions.
For the financial year ended Dec 31, 2025, EIP’s revenue rose 53.6% year-on-year to RM77.4 million from RM50.4 million in 2024. Profit after tax more than doubled by 112.1% to RM19.3 million from RM9.1 million previously. Data centre projects contributed 86.3% of total revenue.
Executive director and chief executive officer Ir. Albert Chang Wan Siong said the IPO marks an important milestone as the company prepares to become publicly listed and accelerate its next phase of growth.
The company aims to raise RM62.2 million from the IPO proceeds, which will be used for expansion and business development. The largest portion, RM24.9 million, will go towards working capital, while RM18.3 million will be used to acquire and set up a new headquarters and warehouse.
Another RM10 million will be allocated for building energy efficiency systems, RM2.3 million for a new Johor branch office and warehouse, and RM1.4 million to establish an office in Thailand. The remaining RM5.3 million will be used for listing expenses.
The IPO involves the issuance of 129.5 million new shares, representing 18.5% of the enlarged share capital, along with an offer for sale of 70 million existing shares, equivalent to 10%.
Upon listing, EIP is expected to have a market capitalisation of RM336 million, based on an enlarged share base of 700 million shares and an IPO price of 48 sen per share.
Applications for the public issue opened today and will close on May 6, 2026, at 5pm. The company is scheduled to be listed on the ACE Market on May 21, 2026.
M&A Securities is the adviser, sponsor, underwriter and placement agent for the IPO exercise.
