KUALA LUMPUR (May 18): SkyeChip Bhd, which is set to list on the Main Market of Bursa Malaysia on May 20, recorded a net profit of RM31.47 million for its fourth quarter ended March 31, 2026.

The company, which designs advanced AI chips, registered a quarterly revenue of RM58.9 million, of which 57.7% was attributable to the licensing of silicon IP and 41.9% to revenue related to custom application-specific integrated circuit (ASIC) to customers from China, the US and South Korea.

This is the company's first interim financial report and no comparative figures were available.

‘’As we scale, we continue to expand from silicon IP into silicon products, including custom ASIC and we are also engaging in more silicon product-related engagements,” said SkyeChip chief executive officer Datuk Fong Swee Kiang in a statement.

“As we approach our listing, we remain focused on expanding our IP portfolio and investing in next-generation technologies,” he added.

For the full financial year, SkyeChip’s net profit rose 34% to RM48.17 million from RM35.95 million in the previous year. The company saw stronger contribution from its IP sales, which grew 39.3%, supported by customer base expansion in the US and South Korea and broader project diversification.

The Penang-based company is looking to raise up to RM352 million from its listing with the initial public offering (IPO) priced at 88 sen per share. There is no accompanying offer for sale of existing shares, meaning current shareholders are not cashing out.

More than 60% of the IPO proceeds, or RM211.5 million, will go towards research and development. The company has also set aside about 16% of funds to expand its operational facilities along with computing infrastructure. The remainder of the funds will accrue towards licensing and development tools, working capital and listing-related expenses.