KUALA LUMPUR (May 14): PEOPLElogy Bhd, which is slated to be listed on the ACE Market on May 20, has reported a net profit of RM42,000 for the first quarter ended March 31, 2025 (1QFY2025).
Quarterly revenue stood at RM5.21 million, with the development segment accounting for 99.6% of total sales, according to the company's exchange filing on Wednesday.
There are no comparative figures for the previous year's corresponding quarter as this is the first interim financial statement announced by the company, which provides talent consultancy, profile assessment and training services besides organising events and conferences. The company also sells online learning platforms and digital training systems.
PEOPLElogy made a net profit of RM5.47 million on a revenue of RM29.24 million last year.
At an initial public offering price of 25 sen per share, the company sought to raise RM26.25 million from its IPO.
The public issuance of 105 million new shares that represent a 25.5% stake in the company was oversubscribed by 0.24 times. There was no separate sale of existing shares, which means its current shareholders did not put up any of their shares for sale.
It plans to spend 32.38% of the proceeds raised to build a computer simulation lab, and 15.24% to expand its research and development software.
The funds raised will also be used to expand offices and training centres in Indonesia, the Philippines, and East Malaysia, and to establish a regional office in Singapore. The rest will be used for general working capital and to cover listing-related expenses.
PEOPLElogy will have a market capitalisation of RM102.93 million, and valued at nearly 19 times its 2024 earnings upon listing.