MM Computer Systems Bhd (MMCS) which is enroute to a listing on the ACE Market of Bursa Malaysia on June 11 has launched its prospectus in conjunction with the group’s initial public offering (IPO) exercise.
Operating via its wholly-owned subsidiaries Micro Technology Solution Sdn Bhd (MTS) and SMIND Sdn Bhd, the established Malaysian enterprise IT solutions provider supports mission-critical enterprise IT environments across IT infrastructure, networking and cybersecurity solutions.
As it is, the group maintains long-standing relationships with GLCs (government-linked companies), enterprises and corporations across Malaysia. GLCs contributed 49.76% of the group’s revenue in its FYE2025, thus reflecting MMCS’s established presence within Malaysia’s enterprise and government-linked ecosystem.
MMCS posted revenue of RM98.68 mil for its FYE2025 ended Dec 31, 2025 which represents a 33.88% year-on-year (yoy) surge from RM73.71 mil in FYE2024. The group’s net profit firmed 16.46% to RM10.12 mil while its gross profit irose to RM21 mil.
Its revenue profile is supported by a combination of project-based implementation income as well as recurring maintenance, technical support and IT outsourcing engagements.
Driving expansion
“This prospectus launch marks our transition into the capital markets supported by our track record in delivering enterprise IT and cybersecurity solutions for GLCs and enterprises across Malaysia,” commented MMCS’s managing director and CEO Macken Young Yoong Chang.
“Enterprise IT environments are becoming increasingly complex, distributed and security-sensitive.”
According to Young, MMCS has over the past two decades been developing capabilities across IT infrastructure, networking, cybersecurity and IT outsourcing services to support customers’ long-term digital infrastructure requirements and mission-critical IT operations.
“As enterprise digitalisation and cybersecurity requirements continue to evolve, we believe MMCS is well-positioned to support increasingly sophisticated IT environments across both the public and private sectors,” he enthused.
As of April 13 which is the latest practicable date stated in the prospectus, the group had 105 on-going projects and multi-year support contracts with total unrecognised revenue of RM80.83 mil.
In addition, MMCS is currently participating in various tenders with an aggregate estimated tender sum of RM127.13 mil which remain under evaluation.
The IPO entails a total offering of 166,344,500 ordinary shares comprising (i) a public issue of 119 million new shares; and (ii) an offer for sale of 47.34 million existing shares
Priced at 22 sen/share, MMCS’s IPO implies a P/E multiple of approximately 12.29 times based on the group’s audited FYE 2025 profit after tax attributable to owners of the company of RM10.12 mil.
The public issue is expected to raise gross proceeds of RM26.18 mil, of which the proceeds will primarily support expansion of the group’s project execution capabilities, including procurement of IT hardware and software, workforce expansion, capability development and partial re-payment of bank borrowings. – May 11, 2026
