KUALA LUMPUR (May 13): EI Power Bhd, which builds electrical systems powering data centres, posted a net profit of RM6.03 million on revenue of RM20.75 million for its first quarter ended March 31, 2026 (1QFY2026), ahead of its ACE Market listing on Bursa Malaysia next week.
There were no comparative figures for the preceding corresponding quarter as the company is scheduled to be listed only on May 21.
EI Power is principally involved in the engineering, procurement, construction and commissioning (EPCC) of mission-critical power systems, conventional power infrastructure and renewable energy power. The mission-critical power segment remained its main earnings driver, contributing RM20.34 million or about 98% of total quarterly revenue.
The company in its commentary of prospects said the group is set to benefit from rapid data centre development in Johor and the Klang Valley. It is also expanding into energy efficiency systems to capture opportunities from the shift towards sustainable energy.
Regionally, the group plans to grow in Thailand, where major data centre investments are being approved. It has already submitted tenders worth about RM75.3 million to tap into this market.
Despite global geopolitical risks, the group does not expect any material impact on its operations. As of March 24, 2026, it has an unbilled order book of RM99.9 million, providing earnings visibility through to 2027.
EI Power’s initial public offering (IPO), priced at 48 sen per share, was oversubscribed by 30.8 times.
The IPO, to raise RM62.16 million, will be used for business expansion, working capital and operations.
In addition, an offer for sale of existing shares will raise RM33.6 million for major shareholders OCK Group Bhd, CEO Albert Chang and investor Siew Wei Foo.
Upon listing, EI Power will have a market capitalisation of RM336 million, based on an enlarged share base of 700 million shares.