KUALA LUMPUR: Following its ACE Market debut, SKA Capital Bhd is looking to accelerate contract growth, with its tender pipeline now about five times the size of its existing order book.
This positions the group to capitalise on rising demand for power infrastructure from data centre (DC) investments.
The stock surged 15% in the first trading day, closing at 49.5 sen compared to its initial public offering (IPO) price of 43 sen per share. However, notably the shares had hit an intra-day high of 57.5 sen in the morning session, before trending lower.
“Our listing also comes at an important time for Malaysia’s power infrastructure sector. Electricity demand is rising alongside economic growth, industrial investment, DC development, urbanisation and increasing electrification.
“At the same time, the national grid must continue to expand and modernise while supporting the integration of renewable energy and new sources of power demand,” SKA Capital managing director Datuk Subas Kumar Ambairam told reporters at the press conference yesterday.
Subas said the group’s tender pipeline had expanded to about five times the size of its existing order book, reflecting growing opportunities in the power infrastructure sector.
SKA Capital’s prospectus stated that its RM313.37mil order book as at the latest practicable date was equivalent to 2.15 times its average annual revenue of RM145.86mil, based on the audited revenues for financial year 2023 (FY23), FY24 and FY25.
