KUALA LUMPUR, THMY Holdings Bhd, a Penang-based test solutions engineering company, made an impressive debut on the ACE Market, with its share price nearly tripling from its initial public offering (IPO) price.
The counter closed at 91 sen, marking a 194% increase from its IPO price of 31 sen per share. At market open, the stock began trading at 80 sen, representing a 158.1% premium, with 46.3 million shares changing hands.
From left: Affin Hwang Investment Bank Berhad chairman and independent non-executive director Hasli bin Hashim, THMY independent non-executive director Aw Ee Leng, THMY executive director and chief operating officer Chew Yap Meng, THMY executive director and chief executive officer Ooi Can Nix, THMY independent non-executive chairman Datuk Dr. Mohd Sofi bin Osman, THMY independent non-executive directors Datuk Cheok Lay Leng and Chua Hooi Luan, and Affin Hwang Investment Bank Berhad chief executive officer, Hanif Ghulam Mohammed.
THMY specialises in providing automated test solutions for the electrical and electronics (E&E) sector, serving industries such as technology, telecommunications, semiconductors, industrial automation, and healthcare.
Speaking at a press conference following the listing ceremony, executive director and chief executive officer Ooi Can Nix expressed optimism about the company’s growth prospects, driven by the rapid expansion of artificial intelligence (AI) and data centres.
“We have a number of strong multinational clients operating in these fast-growing segments. AI and data centres are connected to a wide range of industries, and we believe the momentum in these areas will directly benefit THMY,” Ooi said.
He added that the company is well-positioned to capitalise on the global E&E uptrend, supported by increasing demand for advanced testing solutions and automation technology.
On the group’s dividend policy, Ooi said there are currently no plans to introduce one, as THMY remains focused on reinvesting for growth.
“Our priority is expanding the business, so dividends are not a key consideration at this stage,” he noted.
Prior to its listing, THMY’s IPO was oversubscribed by 35.57 times, raising RM44.6 million from its public issue. The proceeds will be used primarily to fund its new factory in Batu Kawan, Penang, with RM25.9 million allocated for the construction and partial purchase of new industrial land.
Other allocations include RM5.2 million for repayment of bank borrowings, RM3.7 million for new machinery and equipment, RM3.1 million for working capital, and RM1.9 million for design and research and development (R&D) expenditure.
“We aim to unlock new opportunities with the construction of our new factory, which will increase production capacity and enhance our technological capabilities through investments in innovation and automation,” Ooi said.
He added that THMY’s existing production facility is currently operating at about 85% utilisation, and the group plans to optimise and expand its capacity to meet rising demand.
“With proper planning and a reorganised layout, we definitely have room to scale up,” he said.
For the first quarter ended June 30, 2025, THMY recorded a revenue of RM14.2 million and a net profit of RM3 million.
Ooi concluded that the successful listing marks a new chapter for the company.
“Our team is motivated to build on this momentum, strengthen our market positioning, and create long-term value for our shareholders as we pursue opportunities in both domestic and regional markets,” he said.
