From left: M&A Securities Sdn Bhd head of corporate finance Gary Ting, Sarawak Deputy Premier Datuk Amar Professor Dr Sim Kui Hian, Insights Analytics Bhd chairman Datuk Abdul Wahab Aziz, Sarawak Premier Tan Sri Abang Abdul Rahman Zohari Tun Abang Openg, Insights Analytics managing director Frank Wee, M&A Equity Holdings Bhd managing director Datuk Bill Tan and Insights Analytics executive director Bong Joon Fook.
PETALING JAYA: Sarawak-based technology solutions provider Insights Analytics Bhd expects to raise RM43.6mil under its listing exercise on the ACE Market of Bursa Malaysia Securities Bhd.
In a statement, the company said it plans to use RM22.2mil (50.9%) of the proceeds raised from the initial public offering (IPO) to support working capital for ongoing and upcoming projects, particularly in the smart water management sector and Sarawak’s broader smart city development initiatives.
Managing director Frank Wee said the allocation is expected to enhance the company’s liquidity and cash flow position in line with business growth.
“Our water technology solutions segment is expected to benefit from rising demand for operational efficiency in water management, efforts to reduce non-revenue water, and government initiatives promoting technology adoption for sustainable water resource management, while ongoing solution enhancements and operational expansion will further reinforce competitiveness and capture market opportunities.
“The allocation is expected to strengthen the Group’s liquidity and cash flow position in line with business growth, with funds earmarked to partially finance subcontractor costs, IoT devices and instruments, consumables related to water management system solutions, and the design and construction of a water treatment facility,” he added.
Insights Analytics said a further RM9mil, or 20.7% of the proceeds, will be used for investments and acquisitions to expand its core business and enhance technological capabilities in line with its growth strategy.
Part of the proceeds amounting to RM4.4mil (10.1%) will be used to fund the expansion of Insights Analytics’ corporate office in Sarawak, which will include a mini data centre.
As at Sept 8, Insights Analytics’ unbilled order book stood at RM35.3mil, which will be progressively recognised over the next six financial years based on the expected progress of each project.
For the financial year ended April 30, 2025 (FY25) Insights Analytics posted RM49.6mil revenue and RM19mil net profit, achieving a gross profit margin of 59.8% and a net margin of 38.2%.
Under the listing exercise, the company is issuing 121.0 million new shares and an offer for sale of 27.5 million existing shares, representing 22.0% and 5.0% of the enlarged share capital of Insights Analytics, respectively.
At an IPO price of RM0.36 per share, Insights Analytics’ market capitalisation is projected to be RM198mil after listing, based on its enlarged share capital of 550.0 million shares.
Insights Analytics is scheduled to be listed on Oct 27.
M & A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO exercise.
