KUALA LUMPUR (Sept 23): EcoSys (Malaysia) Bhd, a Penang-based semiconductor services company, posted a net profit of RM3.40 million for the second quarter ahead of its ACE Market listing on Oct 14.
Revenue for the quarter ended June 30, 2026 (2QFY2026), stood at RM30.99 million, according to the company's exchange filing on Wednesday. There are no comparative figures as this is the company's first interim financial report.
EcoSys' ultra-high-purity (UHP) segment contributed RM17.74 million to the revenue while the abatement segment contributed RM13.25 million.
For the first six months of FY2026, the company reported a net profit of RM5.63 million on revenue of RM53.54 million.
In FY2025, the company recorded a full-year net profit of RM11.20 million and revenue of RM108.94 million.
Earlier on Wednesday, EcoSys launched the prospectus for its initial public offering (IPO) that seeks to raise RM39.34 million to fund expansion and operations.
At the offer price of 27 sen per share, EcoSys will have a market capitalisation of RM154 million upon listing, valuing the company at 14 times its trailing earnings.
There is no accompanying offer for sale, meaning existing shareholders are not cashing out under the IPO.
As at Aug 25, the company said its total outstanding purchase orders stood at RM94.33 million, of which RM63.42 million is expected to be delivered by FY2026 and the remaining RM30.91 million by FY2027.
Backed by Solarvest Holdings Bhd (KL:SLVEST), EcoSys’ main business is in the fabrication of precision engineering components and sub-assembly modules used in semiconductor and solar panel manufacturing equipment.
Of the proceeds raised, EcoSys has earmarked RM17 million to buy components for the manufacturing of abatement systems — equipment which treats harmful and toxic gases — and expand the business on the back of rising demand for semiconductors.
The company has also set aside RM4.93 million to acquire other machinery and expand its team. EcoSys has also allocated RM1.54 million to expand its India operations, including setting up a sales and service centre and recruitment.
The rest will be used to repay bank borrowings, as working capital and to cover listing expenses.
M&A Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO. Eco Asia Capital Advisory Sdn Bhd is the financial adviser.