KUALA LUMPUR (Oct 15): Sum Technology Bhd, an engineering solutions provider for highly controlled and technical environments, is planning to raise funds to expand its offices here and set up one in its biggest overseas market, the Philippines.

According to its draft prospectus filed with Bursa Malaysia, proceeds from its proposed public issue of 117 million shares will also be used to intensify design and development activities to retain competitiveness and working capital requirements.

Sum Technology provides design and build solutions for mission critical products, technologies and services for cleanrooms, controlled environments and mechanical, electrical, process utilities and firefighting (MEPF) utilities, manufacturing of air handling units (AHUs), and trading of AHU and solar photovoltaic panels. 

The company operates in Malaysia, the Philippines, Taiwan, Indonesia, Singapore, Australia, Bangladesh and India. 

Malaysia is its biggest revenue contributor, accounting for 68.59%, or RM35 million, of its total revenue in the financial year ended Dec 31, 2024 (FY2024). 

The Philippines is its biggest overseas market, contributing 19.48%, or RM10 million, to the group’s total revenue in FY2024.

The company posted a profit after tax (PAT) of RM5.39 million for FY2024 on the back of a revenue of RM51.35 million. Its PAT margin stood at 10.5% in FY2024, up from 5.8% in FY2023 and 7.77% in FY2022. 

As at Aug 31, 2025, the company’s order book stood at RM36.85 million.

The new share issuance represents 26% of its enlarged share capital at a price to be determined later.

Of the 117 million new shares, 22.5 million will be allocated to the Malaysian public, followed by 4.5 million to eligible persons.

Another 33.75 million will be allocated to selected investors, followed by 56.25 million to Bumiputera investors approved by the Investment, Trade and Industry Ministry, both via private placement. 

Malacca Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO.