TP TEC Holding Berhad a strong debut on Bursa Malaysia’s LEAP Market today, with its stock opening at 13 sen, a 30 per cent premium over its IPO issue price of 10 sen. Trading under the ticker “TPTEC” and stock code “03061,” the Group’s listing underscores its growth ambitions in Malaysia’s expanding power solutions sector.
The company, a provider of power and equipment solutions, aims to capitalise on surging demand driven by 5G connectivity rollouts, increased data centre investments, and ongoing large-scale infrastructure projects. With a market capitalisation of RM25 million based on its reference price, TP TEC Holding is well-positioned to further enhance its corporate profile and tap into capital markets for future growth opportunities.
Lau Poh Keong, managing director of TP TEC Holding said this listing is a historic milestone for the Group. “Our listing is a testament to the strength of our business model and our commitment to delivering innovative, reliable, and sustainable power and equipment solutions. It not only elevates our corporate profile but also positions us to leverage the capital markets for future growth.”
Eric Chew, chief executive officer, highlighted the Group’s strategic alignment with Malaysia’s digital transformation initiatives, including the Jalinan Digital Negara (JENDELA) project and the nationwide rollout of 5G connectivity. “Our specialised power solutions play an important role in enabling connectivity and infrastructure development, especially in remote areas, rural areas, and off-grid regions, and in applications where backup power, stable power supply and minimal downtime is critical,” he said.
Strong Financial Momentum
TP TEC Holding’s financial performance reflects its robust market positioning. For the financial year ended 31 December 2023, the Group recorded a 76.78 per cent revenue increase to RM19.87 million, driven by heightened demand for power generator rentals from the telecommunications sector. Its profit after tax surged 136.36 per cent to RM1.30 million.
The momentum continued into the first nine months of 2024, with unaudited revenue rising 89.18 per cent year-on-year to RM25.88 million. Profit after tax for the period soared 214.29 per cent to RM2.64 million, fuelled by sustained demand from the telecommunications industry.
Market Growth Prospects
Independent research firm Providence Strategic Partners Sdn Bhd projects Malaysia’s power generator rental market to grow from RM453.60 million in 2023 to RM680 million by 2026, driven by data centres, telecommunications, and construction sectors. The market’s growth is also supported by broader economic and urbanisation trends, alongside increased foreign and domestic investments.
Prior to the listing, TP TEC Holding raised RM2.5 million via a private subscription of shares. Sixty per cent of the proceeds will expand its fleet of power generators, with the remaining 40 per cent allocated to defray listing expenses.
With Malaysia’s accelerated digitalisation efforts and increasing investments in key sectors, TP TEC Holding is positioned to meet the growing demand for efficient and scalable power solutions. The Group’s strategic focus on rural and off-grid areas adds a unique dimension to its market appeal, further enhancing its prospects in the rapidly evolving power solutions landscape. 
