ACE Market-bound RedPlanet’s FY2026 net profit rises 22%

Thursday 22 Oct 2026

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KUALA LUMPUR (Oct 20): ACE Market-bound RedPlanet Bhd saw higher contributions from its main information communications technology (ICT) segment as the group posted a 22.1% increase in net profit to RM6.33 million for the financial year ended June 30, 2026 (FY2026).

Annual revenue rose 22.3% to RM40.72 million from RM33.3 million previously, according to its filing with Bursa Malaysia on Tuesday.

For the fourth quarter ended June 30, 2026 (4QFY2026), RedPlanet recorded a net profit of RM1.36 million on revenue of RM7.55 million.

Its geospatial solutions segment accounted for the bulk of quarterly revenue at RM4.71 million, or 62.4%, while its intelligent rail solutions business contributed the remaining RM2.84 million.

There were no comparative figures for the corresponding quarter last year, as this was RedPlanet's first interim financial report ahead of its listing.

RedPlanet expects its business outlook to remain favourable in FY2027, supported by growth opportunities in Malaysia's geospatial and intelligent rail solutions industries.

The group also cited increasing use of geospatial technology in urban planning, infrastructure development, smart city projects and utility mapping.

“Demand for these systems by rail operators have been driven by the emphasis on safety requirements, digitalisation and data security as well as technological innovation in data analytics, cloud connectivity and artificial intelligence,” said RedPlanet.

RedPlanet will be transferred to the ACE Market from the LEAP Market on Oct 22, with an initial public offering (IPO) price set at 19 sen per share. The exercise is expected to raise RM13.3 million for the company, of which RM8.125 million is earmarked for its business expansion.

UOB Kay Hian is the principal adviser, sponsor, underwriter and placement agent for the IPO.

Edited BySyed Azahedi

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