KUALA LUMPUR: ACE Market-bound MM Computer Systems Bhd (MMCS) posted a net profit of RM3.03mil on revenue of RM29.82mil in the first quarter ended March 31, ahead of its Bursa Malaysia debut.
The enterprise IT solutions provider recorded a profit before tax (PBT) of RM3.93mil, translating into a PBT margin of 13.19%, while its profit after tax margin stood at 10.16%.
Managing director and chief executive officer Young Yoong Chang said the group's first-quarter results reflected the strength of its core enterprise IT solutions business, driven by project-based IT infrastructure, networking and cybersecurity solutions, and complemented by recurring maintenance, technical support and IT outsourcing services.
“We are encouraged that our two core segments accounted for more than 90% of revenue during the quarter, underscoring the resilience of our business model and the sustained demand for our services.
“The IPO proceeds will strengthen our project execution capacity, support the expansion of our technical workforce and enhance our ability to serve GLCs and enterprises with increasingly complex IT infrastructure and cybersecurity requirements,” he said in a statement.
“As we approach our listing, our focus remains on disciplined execution, service quality and building MMCS as a resilient enterprise IT solutions provider over long term.”
During the quarter, the group also generated a healthy cash inflow from operating activities of RM3.73mil.
MMCS’s public issue is expected to raise gross proceeds of RM26.18mil.
The IPO proceeds will primarily support the expansion of the group’s project execution capabilities, including procurement of IT hardware and software, workforce expansion, capability development and partial repayment of bank borrowings.
The group believes demand for enterprise IT infrastructure, networking and cybersecurity solutions will remain supported by accelerating digitalisation, cloud adoption, artificial intelligence, data-driven applications and rising cybersecurity requirements among GLCs and corporations.
