TSIC Berhad is set to debut on Bursa Malaysia’s LEAP Market on May 16, 2025, with an IPO price of RM0.10 per share.
Purpose of IPO: TSIC Berhad aims to raise funds primarily for business expansion and working capital requirements.
IPO Placement Amount: The company is offering 218.4 million shares, representing 26% of the enlarged share capital.
Outstanding Shares Post-IPO: 840 million shares.
First-Day Performance Outlook: Given the modest IPO price and the company’s expansion plans, the stock may experience moderate interest on its debut.
The IPO includes allocations to identified Bumiputera investors approved by the Ministry of International Trade and Industry (MITI) and selected institutional investors.
Company Overview
Business Model & Industry: TSIC Berhad operates in the industrial services sector, focusing on providing specialized solutions to its clients.
As a new entrant to the LEAP Market, TSIC Berhad is positioning itself to capture niche opportunities within its industry.
The industrial services sector in Malaysia is experiencing steady growth, driven by increased infrastructure projects and manufacturing activities.
Southeast Asia’s focus on industrial development presents opportunities for service providers like TSIC Berhad.
Malaysia’s economy is projected to grow at a moderate pace in 2025, supporting business expansion.
The current market sentiment is positive, which may benefit the IPO’s performance.
Post-IPO, the public will hold 26% of the company, with the remaining shares retained by existing shareholders.
| Company |
P/E Ratio |
P/B Ratio |
Revenue Growth |
Net Profit Margin |
ROE |
Debt-to-Equity |
Market Cap (RM) |
IPO Price (RM) |
| TSIC Berhad |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
0.10 |
| Fibromat (M) Berhad |
15.2 |
1.8 |
12% |
8.5% |
14% |
0.3 |
50 million |
0.55 |
| West River Berhad |
18.7 |
2.1 |
10% |
7.2% |
12% |
0.4 |
60 million |
0.39 |
| Peoplelogy Berhad |
16.5 |
1.9 |
11% |
7.8% |
13% |
0.35 |
55 million |
0.25 |
The stock is expected to trade within a narrow range around its IPO price of RM0.10 on the first day, with limited volatility.
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