KUALA LUMPUR (Jan 21): MyDCD Bhd, an engineering services provider specialising in the integration of mechanical, electrical, plumbing and fire protection (MEPF) systems for critical infrastructure like data centres, is eyeing a listing on the ACE Market.

The initial public offering (IPO) price and indicative market capitalisation have yet to be determined.

According to its draft prospectus filed with Bursa Malaysia, MyDCD plans to use the listing proceeds for business expansion, including hiring and training 25 new project management and engineering staff, and renting additional office space. It will also fund working capital, IT system upgrades, and listing-related costs. The company currently has a 22,900 sq ft head office in Cyberjaya. The company has 47 technical personnel currently.

Under the public issue, MyDCD plans to issue 89.7 million new shares to the Malaysian public, 36 million new shares to eligible persons, 50.7 million new shares to investors via private placement, and 158.59 million new shares to Bumiputera investors through private placement. The offering will also include an offer for sale of 145 million existing shares.

All of MyDCD’s substantial shareholders are selling part of their stakes in the offer for sale. A six-month moratorium applies to the company’s largest shareholders — Ng Kok Hoong, Yew Kim Keong, Ng Gek Khoon, and Datin Kwan Siew Peng — who will collectively hold 61.16% of the company after listing.

Another group — Khairil Husni, Ngooi Siew Luan, Hon Mau Hoong, and Wong Yoke Fang, holding 12.08% collectively — have voluntarily agreed not to sell or transfer their shares for six months. 

Gek Khoon is a key accounts director, Kwan is its human resources and finance director, Hon is its project and sales director and Wong is its finance manager. 

After listing, the largest shareholder Kok Hoong’s stake will drop from 27.49% to 20.14%, while Khairil Husni, who owns 5% of the company now, will see his holdings drop to 3.66%.

MyDCD was incorporated in 2025 and was converted into a public limited company later in the year. Its operating business traces back to DCD Technology, which was incorporated in 2010 and was fully acquired by MyDCD in November through a conditional share sale agreement.

Its previous contract wins in 2025 include contracts worth RM184 million from Binastra Builders Sdn Bhd, a wholly owned unit of Binastra Corp Bhd (KL:BNASTRA), for MEPF integration systems for a new data centre in Cyberjaya. It is also involved in a Huawei-branded data centre that has a contract value of RM20.92 million.

For the financial year ended June 30, 2025 (FY2025), MyDCD recorded a revenue of RM372 million and a net profit of RM39.5 million. Binastra Builders contributed two-thirds of its revenue for FY2025. Gek Khoon holds an 11% stake in ITP Cjaya Sdn Bhd, one of the company’s top five revenue contributors in FY2025.

TA Securities Holdings Bhd is acting as the principal adviser, sponsor, underwriter, and placement agent for the IPO.