KUALA LUMPUR (July 9): Engineering services firm Advance Technologies Asia Bhd has filed for a listing on the ACE Market to raise funds for expansion and its shareholders.

The company is seeking to penetrate deeper in the telecommunication and data centre sectors to secure more jobs, the company also known as ATA said in its draft prospectus, noting that the strategy will require additional manpower and new equipment.

“Given the scale and technical requirements of projects in the telecommunications and data centre sectors, our ability to secure projects is dependent on the availability of our operational resources,” ATA said.

Founded and led by two engineers, ATA mainly provides mechanical-and-electrical engineering services as well as operations and maintenance. The company also works with horticulture farms and building facilities.

The Selangor-based company has outstanding orders worth RM122 million, with more than half of the jobs on data centres. In the 12 months ended Dec 31, 2025, ATA made a net profit of RM6.55 million on revenue of RM64.71 million.

However, ATA is dependent on two major customers, which together accounted for nearly 60% of its FY2025 revenue, while its framework agreements do not stipulate a fixed contract value nor do they guarantee a specific volume of business, according to the risk factors disclosed.

The proposed initial public offering (IPO) will come with an accompanying offer for sale of existing shares by five shareholders, including managing director Ong Keng Yong and executive director Chew Tee Kai.

Mok Chan Sing, Chai Jinq Kang and Kuan Shong Wei, substantial shareholders of ATA, will also offer some of their shares in the IPO that will pare their stakes to under 5% each.

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