MM Computer Systems Berhad: Q1 2026 Financial Report – Key Insights for Investors

Strong Revenue and Profit Growth Ahead of ACE Market Listing

MM Computer Systems Berhad has released its unaudited interim financial report for the first quarter ended 31 March 2026, marking its inaugural disclosure as the company prepares for its listing on the ACE Market of Bursa Malaysia Securities Berhad scheduled for 11 June 2026.

Key Financial Highlights

• Revenue: RM29.82 million for Q1 2026, driven predominantly by the design, implementation, and configuration of IT solutions (RM18.13 million, 60.8% of total revenue).
• Profit After Tax (PAT): RM3.03 million, with a PAT margin of 10.16%, showing strong profitability.
• Gross Profit: RM6.08 million, Gross Profit Margin of 20.38%.
• Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA): RM4.49 million, EBITDA margin of 15.04%.
• Basic and Diluted Earnings Per Share (EPS): 0.68 sen, calculated based on 448 million shares prior to IPO.
• Net Assets Per Share: RM0.07.
• Cash and Bank Balances: RM6.63 million as at 31 March 2026.
• Total Borrowings: RM12.11 million, all secured and denominated in RM.

Segmental Breakdown

• Design, Implementation & Configuration of IT Solutions: RM18.13 million (60.8%) – Key projects include IT infrastructure, networking solutions, and cybersecurity for government-linked corporations (GLCs) and government agencies. Notable new projects involve enterprise cybersecurity platforms and network upgrades for public institutions, including city councils and tertiary education institutions.
• Provision of IT Outsourcing Services: RM8.90 million (29.85%) – Mainly recurring revenue from maintenance contracts for GLCs’ servers and backup systems.
• Sales of IT Hardware & Software: RM2.36 million (7.91%) – New sales order from a reseller for major supply to a national educational institute.
• Leasing of IT Hardware & Software: RM0.43 million (1.44%) – Ongoing leasing contracts with GLCs, including marine fuel monitoring systems.

IPO and Corporate Development

• IPO Details: Prospectus issued 11 May 2026, public issue of 119 million shares, and offer for sale of 47.34 million shares. The listing will enlarge the company’s share capital to 567 million shares.
• Gross Proceeds from IPO: RM26.18 million, earmarked for procurement of IT hardware/software (RM16.93m), workforce expansion (RM3.1m), bank borrowing repayment (RM1.5m), and listing expenses (RM4.65m). None of the proceeds have been utilised as at the report date.
• Material Events: IPO subscription results announced 28 May 2026. No other material events post-reporting date.

Tax and Regulatory Considerations

• Effective Tax Rate: 22.95%, lower than the statutory rate of 24% due to RM0.5 million tax-exempt income from pioneer status.
• No Dividends Paid: No dividends were paid or declared in the quarter, and none proposed for Q1 2026.

Operational and Industry Outlook

• The IT solutions industry in Malaysia is forecasted to grow robustly, with IT infrastructure/networking solutions and cybersecurity solutions expected to expand at CAGR of 18.5% and 15.9% respectively from 2026-2028.
• Growth drivers include digitalisation, cloud computing, AI adoption, government support, and rising cybersecurity threats.
• MM Computer Systems Berhad positions itself to leverage technical capabilities, customer relationships, and comprehensive offerings to capture growth and pursue larger, recurring project contracts for sustainable long-term expansion.

Additional Shareholder Information

• No Related Party Transactions: No related party transactions reported for Q1 2026.
• No Material Litigation: The Group is not involved in any material litigation.
• First AGM: Held 30 April 2026 following conversion to Berhad. No annual report issued for FY2025; next AGM and annual report scheduled for Q2 2027.

Other Noteworthy Points

• Accounting Policies: Newly adopted MFRS standards effective from 1 January 2026, with no material impact on financials.
• No Changes in Group Composition: No acquisitions or disposals during the period.
• No Contingent Assets or Liabilities: As at reporting date.
• No Capital Commitments: Except for proceeds utilisation from IPO.
• No Valuation of Property, Plant & Equipment: In current period.

Potential Price Sensitive Information

• The imminent IPO and listing on the ACE Market, with substantial new capital injection, is likely to be price sensitive as the company transitions to a public entity and executes its growth plans.
• Strong Q1 financial performance ahead of listing, solid margins, and robust outlook for the IT industry could positively influence investor sentiment and share price.
• Lower effective tax rate due to pioneer status and recurring revenue streams suggest sustainable profitability.
• No declared dividends, but sizeable retained earnings may raise future dividend expectations post-listing.
• No material negative events or litigation; clean operational profile.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should review the full financial report and prospectus and consult their financial advisors before making investment decisions. The information herein is based on unaudited interim financial statements and future events may materially affect the company’s performance.

Versi Bahasa Malaysia

Laporan Kewangan MM Computer Systems Berhad Q1 2026 – Fakta Penting untuk Pelabur

Pertumbuhan Pendapatan dan Keuntungan Kukuh Menjelang Penyenaraian di ACE Market

MM Computer Systems Berhad telah menerbitkan laporan kewangan interim tidak diaudit untuk suku pertama berakhir 31 Mac 2026, menandakan pendedahan pertama syarikat menjelang penyenaraiannya di ACE Market Bursa Malaysia Securities Berhad pada 11 Jun 2026.

Fakta Kewangan Utama

• Pendapatan: RM29.82 juta untuk Q1 2026, didorong terutamanya oleh segmen reka bentuk, pelaksanaan dan konfigurasi penyelesaian IT (RM18.13 juta, 60.8% daripada jumlah pendapatan).
• Keuntungan Selepas Cukai (PAT): RM3.03 juta, dengan margin PAT 10.16%, menunjukkan keuntungan kukuh.
• Keuntungan Kasar: RM6.08 juta, Margin Keuntungan Kasar 20.38%.
• EBITDA: RM4.49 juta, Margin EBITDA 15.04%.
• EPS Asas dan Diluasi: 0.68 sen, berdasarkan 448 juta saham sebelum IPO.
• Aset Bersih Setiap Saham: RM0.07.
• Tunai dan Baki Bank: RM6.63 juta pada 31 Mac 2026.
• Jumlah Pinjaman: RM12.11 juta, semuanya bercagaran dan didenominasikan dalam RM.

Pecahan Segmen

• Reka Bentuk, Pelaksanaan & Konfigurasi Penyelesaian IT: RM18.13 juta (60.8%) – Projek utama termasuk infrastruktur IT, penyelesaian rangkaian, dan keselamatan siber untuk GLC dan agensi kerajaan.
• Penyediaan Perkhidmatan Outsourcing IT: RM8.90 juta (29.85%) – Pendapatan berulang daripada kontrak penyelenggaraan pelayan dan sistem sandaran GLC.
• Jualan Perkakasan & Perisian IT: RM2.36 juta (7.91%) – Pesanan baharu daripada reseller untuk pembekalan kepada institut pendidikan nasional.
• Penyewaan Perkakasan & Perisian IT: RM0.43 juta (1.44%) – Kontrak penyewaan berterusan dengan GLC termasuk sistem pemantauan bahan api marin.

IPO dan Perkembangan Korporat

• Butiran IPO: Prospektus dikeluarkan 11 Mei 2026, terbitan awam 119 juta saham, dan tawaran jualan 47.34 juta saham. Penyenaraian akan membesarkan modal saham kepada 567 juta saham.
• Hasil Kasar IPO: RM26.18 juta, untuk perolehan perkakasan/perisian IT (RM16.93j), pengembangan tenaga kerja (RM3.1j), pembayaran balik pinjaman bank (RM1.5j), dan kos penyenaraian (RM4.65j). Tiada hasil yang digunakan setakat tarikh laporan.
• Peristiwa Penting: Keputusan langganan IPO diumumkan 28 Mei 2026. Tiada peristiwa material lain selepas tarikh laporan.

Aspek Cukai dan Peraturan

• Kadar Cukai Efektif: 22.95%, lebih rendah daripada kadar cukai statutori 24% berikutan pendapatan bebas cukai RM0.5 juta dari status perintis.
• Tiada Dividen Dibayar: Tiada dividen dibayar atau dicadangkan untuk Q1 2026.

Prospek Industri dan Operasi

• Industri penyelesaian IT Malaysia dijangka berkembang pesat, dengan segmen infrastruktur IT dan keselamatan siber dijangka berkembang pada CAGR 18.5% dan 15.9% dari 2026-2028.
• Pemacu pertumbuhan termasuk digitalisasi, pengkomputeran awan, AI, sokongan kerajaan dan ancaman keselamatan siber yang meningkat.
• MM Computer Systems Berhad bersedia memanfaatkan keupayaan teknikal, hubungan pelanggan dan penawaran komprehensif untuk menangkap pertumbuhan dan mengejar kontrak berulang berbilang tahun untuk perkembangan jangka panjang yang mampan.

Maklumat Tambahan untuk Pemegang Saham

• Tiada Transaksi Pihak Berkaitan: Tiada transaksi dilaporkan untuk Q1 2026.
• Tiada Litigasi Material: Tiada litigasi material melibatkan kumpulan.
• AGM Pertama: Diadakan 30 April 2026 selepas penukaran kepada Berhad. Tiada laporan tahunan untuk FY2025; AGM dan laporan tahunan seterusnya dijadualkan Q2 2027.

Poin Penting Lain

• Dasar Perakaunan: Piawaian MFRS baharu diterima pakai mulai 1 Januari 2026 tanpa impak material kepada kewangan.
• Tiada Perubahan Komposisi Kumpulan: Tiada pengambilalihan atau pelupusan sepanjang tempoh.
• Tiada Aset atau Liabiliti Kontingen: Setakat tarikh laporan.
• Tiada Komitmen Modal: Kecuali penggunaan hasil IPO.
• Tiada Penilaian Aset Tetap: Dalam tempoh semasa.

Maklumat Berpotensi Sensitif Harga

• Penyenaraian IPO yang bakal berlaku dengan suntikan modal baharu secara besar-besaran berpotensi mempengaruhi harga saham apabila syarikat menjadi entiti awam dan melaksanakan pelan pertumbuhan.
• Prestasi kewangan Q1 yang kukuh sebelum penyenaraian, margin yang stabil dan prospek industri IT yang positif boleh meningkatkan sentimen pelabur dan harga saham.
• Kadar cukai efektif yang lebih rendah daripada status perintis dan pendapatan berulang menunjukkan keuntungan yang berterusan.
• Tiada dividen diumumkan, tetapi baki keuntungan terkumpul boleh menjangkakan dividen pada masa depan selepas penyenaraian.
• Tiada peristiwa negatif atau litigasi material; profil operasi bersih.

Penafian

Artikel ini adalah untuk tujuan maklumat sahaja dan tidak merupakan nasihat pelaburan. Pelabur dinasihatkan untuk meneliti laporan kewangan penuh dan prospektus serta mendapatkan nasihat kewangan sebelum membuat keputusan pelaburan. Maklumat di sini berdasarkan penyata kewangan interim tidak diaudit dan peristiwa masa depan boleh memberi kesan material kepada prestasi syarikat.

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