Liftech Group Berhad IPO: Everything Investors Need to Know

Liftech Group Berhad is set to make its debut on the ACE Market of Bursa Malaysia Securities, with its Initial Public Offering (IPO) aiming to raise RM23 million through the issuance of 79,234,000 new shares at an IPO price of RM0.29 per share. This comprehensive article provides investors with crucial insights, risk factors, and potentially price-sensitive details from the company’s detailed prospectus.

Key Highlights of the IPO

• IPO Structure:
  • Public Issue: 79,234,000 new ordinary shares (25.2% of enlarged share capital)
  • Offer for Sale: 15,800,000 existing shares (5.0%) via private placement to selected investors
  • Breakdown:
    • 15,800,000 shares for Malaysian public (including Bumiputera and non-Bumiputera, 50% each)
    • 7,236,000 shares for eligible directors and employees (Pink Form)
    • 39,368,000 shares via private placement to Bumiputera investors approved by MITI
    • 16,830,000 shares to selected investors via private placement
• IPO Price: RM0.29 per share
• Total Enlarged Share Capital Upon Listing: 314,942,002 shares
• Market Capitalisation Upon Listing: RM91.3 million
• Shariah Status: Approved by the Shariah Advisory Council
• Indicative Timetable:
  • Opening of Application: 8 June 2026
  • Closing of Application: 16 June 2026
  • Balloting: 19 June 2026
  • Allotment to Investors: 24 June 2026
  • Listing Date: 30 June 2026

Use of Proceeds

• Repayment of Bank Borrowings: RM13.75 million (59.8%) – This will substantially reduce gearing from 0.47x to 0.09x, strengthening the balance sheet.
• Purchase of Machinery and Equipment: RM1.72 million (7.5%) to enhance manufacturing capabilities.
• Capital Expenditure: RM1.01 million (4.4%) for new facilities in Bukit Minyak (Penang) and Kota Kinabalu (Sabah).
• Working Capital: RM1.998 million (8.7%), mainly for purchase of materials and components.
• Estimated Listing Expenses: RM4.5 million (19.6%).

Financial Performance Highlights

Note: No exceptional or extraordinary items were recorded during the financial years under review.

Dividend Policy

• No formal dividend policy currently.
• The company declared and paid dividends of RM300,000–RM2.5 million between 2022 to 2025, but does not intend to declare dividends up to the listing date.
• Future dividend payments will depend on financial performance, capital needs, and Board discretion.

Key Business Strategies

• Expansion of maintenance and repair business in Penang and Sabah through purchase of new facilities.
• Enhancement of manufacturing efficiency via purchase of new machinery and equipment.

Potentially Price-Sensitive Information and Investor Considerations

• Risks:
  • Highly project-based and ad-hoc revenue model. Financial performance may fluctuate if project awards are delayed or cancelled.
  • Heavy reliance on government licences and permits; any suspension or revocation could materially impact operations.
  • Dependence on skilled workforce; shortages could delay deliveries and affect reputation and future orders.
  • Loss of key management personnel could disrupt operations and growth plans.
  • Execution risks related to new business strategies and expansion plans; delays or cost overruns could impact returns and flexibility.
• Shariah-compliance: Shares classified as Shariah-compliant, attracting a wider pool of investors.
• Gearing: Major portion of IPO proceeds will reduce gearing from 0.47x to 0.09x, significantly strengthening the company’s balance sheet and reducing financial risk.
• Public Spread: Listing is conditional on at least 25% of shares being held by at least 200 public shareholders. If not achieved, listing may be delayed or cancelled and funds returned to applicants.
• Moratorium: Specified shareholders’ shares are subject to a moratorium, adding stability to the shareholding structure post-listing.
• Clawback & Reallocation: Any undersubscription in public or employee tranches will be reallocated to selected investors, which may affect the free float and liquidity.
• Valuation: The IPO is priced at a PE of 13.2x based on FY2025 PAT, which is relatively moderate for an industrial sector ACE Market listing.
• Major Shareholders: The company remains tightly held by key founders and management, though public and institutional participation will rise post-listing.
• Listing Expenses: RM4.5 million or nearly 20% of IPO proceeds is allocated for listing expenses, which is at the higher end and may affect short-term capital deployment.

Board and Management

• Independent Non-Executive Chairman: Dato’ Ir Mohtar Bin Musri
• Managing Director: Ng Sea Kai
• Executive Directors: Eng Peng Hong, Ng Say Lim
• Independent Non-Executive Directors: Tan Bee Chan, Chan Kim Wean, Goh Hooi Hooi
• Key Senior Management: Low Wei Keat (CFO), Ho Kee Meng (Head of Sales), Ooi Poh Keong (Head of Project Planning), Ng Peng Choong (Head of Business Development)

Other Noteworthy Points

• IPO is exempt from Securities Commission Malaysia approval under Section 212(8) of the Capital Markets and Services Act 2007.
• Bumiputera equity requirement: 12.5% of shares allocated to Bumiputera investors as approved by MITI.
• Strong focus on governance: Board has robust risk and internal control practices; annual evaluation of effectiveness.
• No minimum subscription for IPO: However, public spread requirements must be met for successful listing.

Conclusion

Liftech Group Berhad’s IPO offers investors exposure to Malaysia’s industrial lifting and handling equipment sector, with a focus on project-based growth, expansion into new regions, and a strengthened balance sheet post-listing. However, investors should closely monitor the company’s project pipeline, regulatory compliance, and execution of expansion plans, as these may significantly impact future share performance.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors are advised to read the full prospectus and consult professional advisers before making any investment decisions. The information provided is based on the IPO prospectus and may be subject to change.

Versi Bahasa Malaysia

Liftech Group Berhad IPO: Semua Fakta Penting Untuk Pelabur

Liftech Group Berhad bakal disenaraikan di Pasaran ACE Bursa Malaysia Securities, dengan IPO bertujuan mengumpul RM23 juta melalui terbitan 79,234,000 saham baru pada harga RM0.29 sesaham. Artikel ini mengupas maklumat penting, faktor risiko, dan perkara sensitif harga yang perlu diketahui pelabur berdasarkan prospektus syarikat.

Sorotan Utama IPO

• Struktur IPO:
  • Terbitan Awam: 79,234,000 saham biasa baru (25.2% modal saham dibesarkan)
  • Jualan Tawaran: 15,800,000 saham sedia ada (5.0%) menerusi penempatan persendirian
  • Perincian:
    • 15,800,000 saham untuk awam Malaysia (termasuk Bumiputera & bukan Bumiputera, masing-masing 50%)
    • 7,236,000 saham untuk pengarah & pekerja layak (Pink Form)
    • 39,368,000 saham penempatan persendirian kepada pelabur Bumiputera diluluskan MITI
    • 16,830,000 saham kepada pelabur terpilih
• Harga IPO: RM0.29 sesaham
• Modal Saham Selepas Penyenaraian: 314,942,002 saham
• Modal Pasaran: RM91.3 juta
• Status Syariah: Diluluskan oleh Majlis Penasihat Syariah
• Jadual Indikatif:
  • Pembukaan Permohonan: 8 Jun 2026
  • Penutupan Permohonan: 16 Jun 2026
  • Pengundian: 19 Jun 2026
  • Peruntukan kepada Pelabur: 24 Jun 2026
  • Penyenaraian: 30 Jun 2026

Penggunaan Hasil IPO

• Pembayaran Balik Pinjaman Bank: RM13.75 juta (59.8%) – Mengurangkan nisbah hutang/ekuiti dari 0.47x ke 0.09x.
• Pembelian Mesin & Peralatan: RM1.72 juta (7.5%) untuk tingkatkan kapasiti pembuatan.
• Perbelanjaan Modal: RM1.01 juta (4.4%) untuk fasiliti baharu di Bukit Minyak (Pulau Pinang) dan Kota Kinabalu (Sabah).
• Modal Kerja: RM1.998 juta (8.7%) untuk pembelian bahan dan komponen.
• Anggaran Kos Penyenaraian: RM4.5 juta (19.6%)

Prestasi Kewangan Utama

Nota: Tiada item luar biasa sepanjang tahun kewangan yang dikaji.

Dasar Dividen

• Tiada dasar dividen formal buat masa ini.
• Dividen RM300,000–RM2.5 juta telah diisytihar dan dibayar antara 2022–2025, namun tiada dividen dijangka sehingga tarikh penyenaraian.
• Bayaran dividen masa depan bergantung pada prestasi kewangan, keperluan modal, dan budi bicara Lembaga Pengarah.

Strategi Perniagaan Utama

• Peluasan perniagaan penyelenggaraan dan pembaikan di Pulau Pinang & Sabah melalui pembelian fasiliti baharu.
• Peningkatan kecekapan pembuatan melalui pembelian mesin dan peralatan baru.

Maklumat Sensitif Harga & Perkara Penting untuk Pelabur

• Risiko:
  • Pendapatan sangat bergantung kepada projek; keputusan kewangan boleh berubah jika projek tertunda atau dibatalkan.
  • Kebergantungan kepada lesen dan permit kerajaan yang jika digantung atau dibatalkan boleh menjejaskan operasi.
  • Kebergantungan kepada pekerja mahir; kekurangan boleh melambatkan penghantaran dan menjejaskan reputasi serta pesanan akan datang.
  • Kehilangan pengurusan utama boleh menjejaskan operasi & pelan pertumbuhan.
  • Risiko pelaksanaan strategi baharu & pelan peluasan: kelewatan atau kos melebihi bajet boleh jejaskan pulangan dan fleksibiliti kewangan.
• Status Syariah: Saham diklasifikasi patuh Syariah, menarik pelabur lebih luas.
• Gearing: Hasil IPO akan mengurangkan nisbah hutang/ekuiti secara signifikan.
• Penyebaran Awam: Penyenaraian perlu sekurang-kurangnya 25% saham dipegang oleh 200 pemegang awam. Jika gagal, penyenaraian boleh tertangguh/dibatalkan.
• Moratorium: Saham pemilik tertentu tertakluk moratorium, memberikan kestabilan struktur pemegangan saham selepas penyenaraian.
• Clawback & Reallocation: Lebihan saham akan diperuntukkan semula kepada pelabur terpilih jika kurang langganan dari awam atau pekerja, yang boleh jejaskan kecairan saham.
• Penilaian: IPO pada PE 13.2x berdasarkan PAT 2025, sederhana untuk sektor industri pasaran ACE.
• Pemegang Saham Utama: Syarikat masih dikuasai pengasas & pengurusan, namun penyertaan awam & institusi akan meningkat selepas penyenaraian.
• Kos Penyenaraian: RM4.5 juta (~20% hasil IPO) untuk kos penyenaraian, agak tinggi dan boleh jejaskan penggunaan modal jangka pendek.

Lembaga Pengarah & Pengurusan

• Pengerusi Bebas Bukan Eksekutif: Dato’ Ir Mohtar Bin Musri
• Pengarah Urusan: Ng Sea Kai
• Pengarah Eksekutif: Eng Peng Hong, Ng Say Lim
• Pengarah Bebas Bukan Eksekutif: Tan Bee Chan, Chan Kim Wean, Goh Hooi Hooi
• Pengurusan Kanan: Low Wei Keat (CFO), Ho Kee Meng (Ketua Jualan), Ooi Poh Keong (Ketua Perancangan Projek), Ng Peng Choong (Ketua Pembangunan Perniagaan)

Lain-lain Perkara Penting

• IPO dikecualikan daripada kelulusan Suruhanjaya Sekuriti Malaysia di bawah Seksyen 212(8) Akta Pasaran Modal & Perkhidmatan 2007.
• Keperluan ekuiti Bumiputera: 12.5% saham untuk pelabur Bumiputera dengan kelulusan MITI.
• Pemantauan tadbir urus korporat: Lembaga komited kepada kawalan dalaman & pengurusan risiko yang kukuh.
• Tiada langganan minimum diperlukan untuk IPO: Tetapi penyebaran awam mesti dipenuhi untuk penyenaraian berjaya.

Kesimpulan

IPO Liftech Group Berhad menawarkan pendedahan kepada sektor peralatan industri Malaysia, dengan tumpuan kepada pertumbuhan berasaskan projek, peluasan wilayah dan pengukuhan imbangan kewangan selepas penyenaraian. Namun, pelabur perlu memantau rapat aliran projek, pematuhan peraturan, dan pelaksanaan pelan peluasan, kerana faktor-faktor ini boleh memberi impak ketara kepada prestasi saham masa depan.

PENAFIAN: Artikel ini hanyalah untuk tujuan maklumat dan bukan nasihat pelaburan atau cadangan membeli/menjual sekuriti. Pelabur dinasihatkan membaca prospektus penuh dan mendapatkan nasihat profesional sebelum membuat sebarang keputusan pelaburan. Maklumat yang diberi berdasarkan prospektus IPO dan tertakluk kepada perubahan.

View LIFTECH GROUP BERHAD Historical chart here