KUALA LUMPUR, MM Computer Systems Bhd, a Malaysian IT services provider, is preparing for a listing on the ACE Market to raise funds for procurement and business expansion.
According to its draft prospectus, the company aims to pursue higher-value contracts and broaden its product and service offerings in line with evolving technology trends. These projects often require substantial upfront purchases of hardware and software, as well as significant working capital for tender compliance, technical mobilisation, and project initiation.
Based in Kuala Lumpur, MM Computer provides computer infrastructure design, networking, cybersecurity solutions, maintenance, technical support, and hardware and software sales and leasing. Its clients include government-linked companies, corporates, and resellers. The company currently has 120 active contracts with total unrecognised revenue of RM76.55 million and reported a net profit of RM8.7 million on RM73.7 million revenue last year.
Proceeds from the IPO, pricing of which is yet to be determined, will fund workforce expansion—including hiring a sales director and 10 technicians—staff training, repayment of bank borrowings, and listing expenses. Part of the funds will also come from the sale of existing shares by CEO Young Yoong Chang, executive director Lee Choon Weng, and head of business development Quah Soo Keat.
Malacca Securities serves as principal adviser, sponsor, underwriter, and placement agent for the IPO, while SCS Global Advisory is the corporate finance advisor.
