KUALA LUMPUR (July 7): Information technology services firm SRKK AI Bhd has posted its first quarterly earnings ahead of its listing on the ACE Market on July 9.
For the first quarter ended March 31, 2026, the company recorded a net profit of RM1.32 million on revenue of RM31.42 million, according to a bourse filing on Tuesday.
There are no comparative figures as this is the company's first interim financial report.
SRKK AI said it has an order book of RM31.8 million as at June 29.
The company’s recurring income revenue segment, namely cloud services, data analytics and business intelligence solutions, IT managed services and rental of hardware and software, contributed 55.5% of the total revenue.
The remaining 44.5% was contributed by the company's non-recurring income segment, namely consultation and project implementation services and IT hardware and software product sales as well as IT managed services.
Geographically, Malaysia was the group’s largest revenue contributor at 75.1%, while Singapore contributed 24.2%, and other countries made up the remaining 0.7%.
Based in Klang, SRKK mainly provides consultation, project implementation and managed services to corporations, government-linked companies, resellers and other service providers in Malaysia and Singapore.
The company is a direct bill partner under the Microsoft Cloud Solution Provider programme that allows direct purchase of Microsoft cloud solutions and resale to other vendors.
The initial public offering (IPO) has been oversubscribed by 312.3 times with the retail tranche attracting applications worth RM1.4 billion.
The IPO is set to raise RM20.48 million for the company and another RM4.16 million for more than a dozen shareholders through two private vehicles under an offer for sale of their existing shares, according to the prospectus.
Proceeds from the IPO have been earmarked for the company's artificial intelligence initiatives, including RM4 million for setting up a laboratory to test products; an academy offering courses related to AI; and developing its own data analytics and business intelligence solutions with AI capabilities.
SRKK AI is also setting aside RM3.7 million to build an in-house security operations centre and RM1.84 million for the company’s expansion into Indonesia. The remaining 53% of the IPO proceeds will be used for branding and marketing, as working capital, and to cover listing expenses.
TA Securities is the IPO’s principal adviser, sponsor, underwriter and placement agent.