ICT player Pentech eyes new security centre post-ACE Market listing

KUCHING (April 10): Information, communications and technology (ICT) firm Pentech Holdings Bhd has signed an underwriting agreement with Public Investment Bank Bhd ahead of its listing on the ACE Market of Bursa Malaysia.

In a statement on Friday, Pentech said it plans to list its enlarged issued share capital of 620 million ordinary shares.

Its initial public offering (IPO) will involve the issuance of 171.995 million new shares.

Of this, 31 million shares or 5 per cent of the enlarged share capital will be offered to the Malaysian public. Another 31 million shares (5 per cent) will be made available to eligible directors, employees and other entitled persons.

Meanwhile, 32.495 million shares (5.24 per cent) will be placed out to selected investors via private placement, while 77.5 million shares (12.5 per cent) are earmarked for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).

With around 20 years of operating history through its subsidiary Pentech Solution Sdn Bhd, the group is involved in providing enterprise ICT solutions, which include integrating enterprise ICT infrastructure, supplying hardware and software, and providing cloud, managed, and other services such as technical and digital transformation services.

Its client base spans manufacturing, education, business process outsourcing, hospitality, transportation and logistics, construction, property development and management, professional service providers, as well as government agencies and government linked companies.

Managing director and chief executive officer Yeoh Chin Ming said the IPO is timely as the company is positioned to capitalise on growth opportunities in Malaysia’s ICT sector.

He said part of the proceeds will be used to establish a new Security Operations Centre (SOC) in Kuala Lumpur alongside a rental of about 2,800 sq ft of office space.

“We plan to rent an office space of approximately 2,800 square feet in Kuala Lumpur to house the new SOC, which facilitates the monitoring of specific networks to detect, analyse, and respond to security incidents in real time for our customers.

Yeoh added that the company will also upgrade its existing Operations Command Centre (OCC) by installing new hardware and software to enhance coverage, monitoring and incident response capabilities.

“At this moment, our OCC, which is located in Kuala Lumpur and is supported by our Penang Office as a secondary OCC, serves as the centralised hub for monitoring, managing, and supporting our customers’ ICT infrastructure and systems, facilitating the delivery of our cloud and managed services,” he said.

Furthermore, part of the proceeds will be allocated for business expansion, including the development of new AI-powered cloud applications and the establishment of a cybersecurity business unit.

Other proceeds will be used for marketing and promotional activities, working capital requirements, and to cover listing-related expenses.

Public Investment Bank is Pentech’s principal adviser, sponsor, sole underwriter and sole placement agent for the group’s IPO.