SRKK AI signs underwriting agreement with TA Securities ahead of ACE Market IPO
SRKK AI Bhd executive director/chief executive officer Yew Lip Sin (third from left), with executive director/chief operating officer Yeoh Kai Hearn (left) and executive director/chief strategy officer Alex Lam (second from left), alongside representatives from TA Securities Holdings Bhd at the underwriting agreement signing ceremony.
KUALA LUMPUR (June 3): Digital transformation solutions provider SRKK AI Bhd has signed an underwriting agreement with TA Securities Holdings Bhd ahead of its planned initial public offering (IPO) on the ACE Market of Bursa Malaysia.
TA Securities is acting as principal adviser, sponsor, underwriter and placement agent for the listing exercise.
The company is scheduled to list on the ACE Market in the third quarter of 2026.
SRKK AI, which provides end-to-end digital transformation solutions for enterprises, said it integrates artificial intelligence (AI) into corporate IT systems, covering areas such as cybersecurity, business workflows, cloud services, software and analytics.
The IPO exercise involves a public issue of 64 million new shares, representing 22.5% of the group’s enlarged share capital, and an offer for sale of 13 million existing shares or close to a 4.6% stake.
Of the 64 million new shares, 14.2 million will be offered to the Malaysian public, 17.04 million will be allocated to eligible persons, while 32.76 million will be placed out to selected investors.
“We have grown our business during Malaysia’s technology wave over the past two decades, through Multimedia Super Corridor and ensuing digital transformation initiatives,” said SRKK AI chief executive officer Yew Lip Sin.
The group said it is a Microsoft managed partner and is the first Malaysian solutions provider to achieve all pillars of technical competency under the Microsoft AI Cloud Partner Program.
For the financial year ended Dec 31, 2024 (FY2024), SRKK AI said recurring revenue represented 50% of its topline, supported by cloud services, IT managed services, data analytics and business intelligence, as well as rental of IT hardware and software.
The remaining came from IT consulting, project implementation, and hardware and software sales.
The year before in FY2024, the group made RM5.01 million in net profit on RM94.54 million in revenue, according to its prospectus exposure, with recurring revenue representing slightly more than half of its total revenue.
