Arizona Tribune - Kee Ming Group Berhad Eyes RM25.32 Million Fundraising from Upcoming ACE Market IPO

With approximately 13 years of operating history, Kee Ming has established itself as a trusted provider of comprehensive M&E engineering solutions, spanning electrical engineering services such as high-voltage ("HV"), medium-voltage ("MV"), low-voltage ("LV") and extra-low voltage ("ELV") installations, as well as mechanical engineering services including air conditioning and mechanical ventilation ("ACMV") systems, and fire protection systems. In addition, the Company also provides M&E engineering services for clean energy infrastructure, including solar photovoltaic ("PV") installation and electric vehicle ("EV") charging solution, aligning with Malaysia's National Energy Transition Roadmap.

Following the initial public offering ("IPO") exercise, Kee Ming is expected to raise RM25.32 million via the issuance of 66.63 million new shares at the issue price of RM0.38 per share. The proceeds will be allocated in the following manner:

• RM13.00 million for project working capital for future projects;

• RM4.00 million for performance bond for future projects;

• RM1.72 million for expansion of project team;

• RM1.00 million for purchase of Enterprise Resource Planning ("ERP") system;

• RM0.60 million for general working capital; and

• RM5.00 million for defray fees and expenses related to the IPO exercise.

Ir. Liew Kar Hoe, Managing Director of Kee Ming Group Berhad, commented, "The launching of our prospectus marks an exciting new chapter for Kee Ming. The IPO will strengthen our operational capabilities, enable us to undertake larger and more complex projects across industrial, commercial, residential, clean energy-related segments as well as others which mainly consist of public infrastructures and interconnection facilities. This reinforces our commitment to delivering safe, reliable and high-quality engineering solutions. We are dedicated to driving sustainable growth and creating long-term value for our stakeholders."

Mr. Ku Mun Fong, Head of Corporate Finance of TA Securities Holdings Berhad, added, "Kee Ming's track record, diversified M&E engineering capabilities and experienced management team position the Company well for sustainable growth. We are pleased to support Kee Ming's IPO journey and believe the Company is well-placed to capitalise on opportunities arising from Malaysia's expanding construction, industrial and renewable energy sectors."

Mr. Kelvin Khoo, Group Chief Executive Officer of Eco Asia Capital Advisory Sdn. Bhd., said "The launch of Kee Ming's prospectus is a testament to the hard work and dedication of the Company in building a resilient and technically strong engineering business. With the IPO proceeds, the Company can focus on scaling its resources, enhancing execution capacity and expanding footprint across Malaysia's industrial, commercial, residential and clean energy landscape. We are pleased to support Kee Ming in entering this next phase of growth with confidence."

According to the Independent Market Research ("IMR") Report, Malaysia's M&E engineering services market is projected for strong long-term growth, with the local M&E engineering services market valued at RM9.61 billion in 2024, representing a 21.8% increase from RM7.89 billion in 2023. The market is forecast to expand from RM10.86 billion in 2025 to RM16.82 billion by 2029, registering a compound annual growth rate ("CAGR") of 11.9% over the forecast period. This growth is supported by continued industrial and infrastructure development, sustained data centre investments, and the ongoing green energy transition driven by solar PV installation and EV charging infrastructure. The outlook is further underpinned by the Malaysian Government's projected RM430 billion development expenditure under the 13th Malaysia Plan, which includes major allocations for infrastructure, infostructure, public transport, flood mitigation and affordable housing, collectively providing a strong foundation for Kee Ming's continued expansion.

Following the launch of Kee Ming's prospectus, applications for the Public Issue are open from today and will close on 27 January 2026. Kee Ming is scheduled to be listed on the ACE Market of Bursa Securities on 12 February 2026.

Upon listing, Kee Ming will have a market capitalisation of RM123.50 million based on the issue price of RM0.38 per share and its enlarged issued share capital of 325 million shares.

TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for this IPO, while Eco Asia Capital Advisory Sdn. Bhd. serves as Financial Adviser of the IPO.

ABOUT KEE MING GROUP BERHAD

Kee Ming Group Berhad ("Kee Ming" or the "Company") is a M&E engineering solutions provider with approximately 13 years of operating history, specialising in electrical engineering such as HV, MV, LV, and ELV installations, mechanical engineering services including ACMV and fire protection systems, as well as provision of M&E engineering services in clean energy-related segment including solar PV installation and EV charging solution. Headquartered in Ipoh, Perak, with branch offices in Selangor and Penang, the Company serves the industrial, commercial, residential and clean energy-related segments across Malaysia as well as others which mainly consist of public infrastructures and interconnection facilities, supported by strong technical expertise and proven project delivery capabilities.

For more information, visit https://keeming.com

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Kee Ming Group Berhad

For more information, please contact:

Jazzmin Wan
Email: [email protected]

William Yeo
Email: [email protected]

SOURCE: Kee Ming Group Berhad

View the original press release on ACCESS Newswire

W.Stewart--AT