ACE Market · Technology · Open now

EcoSys (Malaysia) Berhad

ECOSYS · 0477Shariah status: CompliantOffer closes 29 Sep 2026
Prospectus ↗
RM0.27per ordinary share
145.7mRM39.34m gross proceeds
RM154.26mabout 13.8× trailing PE
64%positive-open probability; model range -4.9% to +44.7%
OverviewForecastAnalysisFinancialsSources

IPO timetable

Current offer status and key dates.

Offer opens23 Sep 2026
Offer closes29 Sep 2026 · 5 days
Listing14 Oct 2026 · 20 days
Listing boardACE Market
Issuing houseTIIH-836
Company portionNew shares; no offer-for-sale indicated

My application

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RM
Educational tracking only; not investment advice.

Business

EcoSys provides precision fabrication, sub-assembly modules and abatement systems used in semiconductor and solar-equipment manufacturing.

Thesis: Semiconductor capex and expansion into abatement systems and India create the growth case.

Use of proceeds

RM17.00m abatement-system components and expansion.

RM4.93m machinery and team expansion.

RM1.54m India sales/service centre and recruitment.

Balance: borrowings, working capital and listing expenses.

Key risks

Execution and customer-concentration risk; growth depends on semiconductor-cycle demand and working-capital funding.

Forecast range is wide: -4.9% to +44.7%. Treat it as uncertainty, not a target.

Financial snapshot

FY2025 revenueRM108.94m
FY2025 net profitRM11.20m
Net margin≈10.3%
Post-IPO market cap≈RM154.26m
Trailing PE≈13.8×

Offer structure

Public / ballotShown in prospectus
Pink FormDirectors, staff & contributors
PlacementBumiputera + selected investors
Offer represents approximately 25.5% of enlarged share capital. Verify exact allocation percentages against the final electronic prospectus.

Forecast and demand context

Transparent signal based on offer price, ACE Market, issuing-house history and available public facts. This is not a guaranteed outcome.

64%
-4.9% → +44.7%
Semiconductor / ACE
Oversubscription is pending while the offer is open. Update this panel after ballot results are published.

Use of proceeds

Where the RM39.34m IPO proceeds are planned to go, based on the prospectus summary.

Components & modules · 36 months43.2%Repay bank borrowings · 12 months20.3%Machines & team · 36 months12.6%India expansion · 24 months3.9%Working capital · 12 months6.0%Listing expenses · 1 month14.0%
Largest allocation is capacity expansion; debt repayment is the second-largest use. Verify the final electronic prospectus for exact wording and timing.

Track record

Revenue bars and net-profit margin line from the prospectus summary. RM millions; 2026E/FPE is an estimate/period label and should not be compared blindly with a full year.

1052022
742023
892024
1092025
232026E/FPE
Revenue (RMm)105 · 74 · 89 · 109 · 23
Net profit margin19.5% · 17.6% · 10.4% · 10.3% · 9.9%
2026E/FPERevenue RM22.6m · PAT RM2.2m · margin 9.9%

Scenario probabilities

Early estimate based on 25 similar historical IPOs. This is a model view, not a promise.

28%Bear
44%Normal
16%Bull
12%Best bull
+17.07%
62%
−5% → +45%

Closest historical match

Comparable analysis should be read together with sector, price, size and demand—not as a guarantee.

Comparable set25 similar historical IPOs
Match dimensionsACE Market · technology · price · size
Reference outcomeSee verified comparable returns after listing
Detailed comparable name and return should be populated from the source dataset before being used in a decision.

Thinkstock Waterfall

Prospectus risk dashboard. Severity counts shown in the research reference.

1Legal / governance / compliance
4Needs focused review
3Monitor post-listing
1
4
3
Critical item noted: founder ownership/control may create governance concentration. Confirm the exact prospectus wording and page reference before treating this as a final risk conclusion.

Research sources

Facts and analysis links used for this page.

Bursa IPO summary ↗Bursa prospectus exposure ↗The Edge: offer and financial facts ↗SC Shariah status ↗

Ask analyst

Static source-backed quick answers for today’s release. Full AI prospectus Q&A can be added after PDF ingestion and page citations are wired.