By Emily Ruran
KUCHING, Oct 7: Sarawak-based technology solutions provider Insights Analytics Berhad (IAB) expects to raise RM43.6 million from its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad.
Of the proceeds, RM22.2 million (50.9 per cent) has been earmarked for working capital to support ongoing and upcoming projects, particularly in smart water management and Sarawak’s broader smart city initiatives.
IAB managing director Frank Wee said the allocation will strengthen the company’s liquidity and cash flow position in tandem with its business growth.
“Technology for water and asset management is no longer a niche; it is both a national and regional necessity. Most importantly, we are ready to scale up.
“Through this initial public offering (IPO), we are raising RM43.56 million to strengthen our foundations and fuel our future — expanding our Sarawak headquarters with a mini data centre, enhancing our Peninsula operations, scaling up IT capabilities, and supporting working capital for our growing project pipeline.
“This is about building the digital backbone to support our next phase of growth — not just in water, but across industries seeking smarter, more sustainable infrastructure solutions,” he said when speaking at the Prospectus Launch of IAB, officiated by Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg at the Hikmah Exchange Convention Centre here today.
The prospectus, an official document issued before a public listing, provides comprehensive information on the company’s business, financials, strategies, risks, and use of IPO proceeds, serving as a guide for potential investors.
According to IAB, another RM9 million (20.7 per cent) of the proceeds will go toward investments and acquisitions to complement its core business and broaden technological capabilities, while RM4.4 million (10.1 per cent) will fund the expansion of its Sarawak corporate office, including the development of a mini data centre.
Additionally, RM1.86 million (4.3 per cent) is allocated for IT operations and Research and Development, RM1.21 million (2.8 per cent) for the expansion of its West Malaysia office, and RM4.9 million (11.2 per cent) to cover listing expenses.
With over two decades of experience in Sarawak’s water technology sector, IAB is strategically positioned to support the State’s Water Sector Transformation 2040 agenda and Malaysia’s broader smart city infrastructure drive.
Its key clients include Sarawak Rural Water Supply Department (JBALB), Sibu Water Board, Sarawak Water Sdn Bhd, and Kuching Water Board.
As of Sept 8, 2025, IAB’s unbilled order book stood at RM35.3 million, expected to be recognised over the next six financial years.
For the financial year ended April 30, 2025, the company recorded RM49.6 million in revenue and RM19 million in net profit, with a gross profit margin of 59.8 per cent and a net margin of 38.2 per cent.
Under the listing exercise, IAB will issue 121 million new shares and offer 27.5 million existing shares for sale, representing 22 per cent and 5 per cent of its enlarged share capital respectively.
At an IPO price of RM0.36 per share, IAB’s market capitalisation is projected at RM198 million upon listing. The IPO is open for subscription until Oct 13, with the listing tentatively scheduled for Oct 27. — DayakDaily
