KUALA LUMPUR (Oct 13): Pentech Holdings Bhd, which engineers computer infrastructure including for data centres, has filed to raise funds from the ACE Market for its expansion and operations.
The plan is to set up a security operations centre to protect a network against cyberthreats and upgrade its operations command centre that allows remote connections to its clients’ systems, the draft prospectus showed. The two centres require hardware, software, and 25 new hires in total.
“Our strategies and plans are focused on expanding facilities to provide new services and enhance our ability to serve our customers,” Pentech said.
Based in Penang, Pentech mainly integrates enterprise information and communication technology infrastructure, supplies hardware and software, and provides cloud and other services.
More than half of Pentech's revenue last year came from systems integration for enterprise data centres, network infrastructure, and security systems. The company made a net profit of a little under RM10 million on revenue of RM188.94 million.
The company has also earmarked a portion of the proceeds from the initial public offering (IPO) to develop applications powered by artificial intelligence and set up a new cybersecurity business unit operating in Penang and Kuala Lumpur.
The rest will go towards marketing expenses, as general working capital, and to defray listing expenses. The IPO involves only public issue of new shares, which means its current shareholders are not cashing out their shares.
Yeoh Chin Ming, a seasoned salesman who joined Pentech as a sales executive in 2010, became its chief executive officer in January 2022. Along the way, he bought out two other co-founders and now controls 52% of Pentech.
Post-listing, he will jointly control 60% of Pentech through Evernorth Capital Sdn Bhd together with current chief sales officer Ho Huang Ken and business development director Toh Say Yee.
Public Investment Bank is the principal adviser, sponsor, sole underwriter and sole placement agent for the IPO.