KUALA LUMPUR: Evocom Bhd aims to raise RM20.5 million from its initial public offering (IPO) ahead of its Sept 28, 2026 listing on Bursa Malaysia’s ACE Market.
Executive director and deputy chief executive officer Dr Esther Loo Chee Hong said RM3 million of the proceeds would be allocated to developing technology applications.
"Approximately RM7.2 million will be used as working capital for our flexible staffing services, supporting the continued growth of our existing operations, while RM3 million would be allocated to expanding the company’s air freight transhipment business,” she said in her speech at the company’s prospectus launch here today.
Loo said a further RM1.5 million would be used to establish its headquarters in Nilai, while RM1.34 million would be set aside for general working capital and the remaining RM4.46 million for estimated listing expenses.
At a press conference, Loo said the application would integrate artificial intelligence (AI) to improve delivery efficiency by optimising parcel allocation, route planning and workforce utilisation.
She said the system would factor in traffic and weather conditions, parcel weight and volume, as well as individual workers’ capacity, to determine the most efficient delivery arrangements.
"The AI we use predominantly focuses on people's potential, maximising it through technology.
"Today, our staff deliver roughly 3,000 parcels a month. By optimising the volume they can handle each month, they can earn more,” she said.
Loo added that the system would also segment parcels, forecast future delivery volumes and consolidate parcels from different e-commerce platforms within the same area to improve delivery efficiency.
She said the technology was already under development and undergoing research and development, with full deployment expected by the second quarter of next year.
Meanwhile, Evocom Bhd executive director and chief executive officer Ian Tan said the proposed headquarters in Nilai would have an estimated floor area of 4,000 to 5,000 square feet and serve as a fulfilment centre and hub management facility.
The facility is expected to handle about 5,000 parcels a day, translating into potential revenue of about RM20,000 a day, he said.
According to its prospectus, Evocom’s enlarged share capital upon listing will comprise 455.63 million shares, giving it an indicative market capitalisation of RM82.01 million based on the IPO price of 18 sen per share.
Applications for the IPO opened today and will close on Sept 14, 2026.
NewParadigm Securities Sdn Bhd is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise. - Bernama
