Bursa IPO Updates

Kerusi Urut Rest n Go Nak IPO!! Berbaloi Ke Untuk Subscribe?

Kerusi Urut Rest n Go Nak IPO!! Berbaloi Ke Untuk Subscribe?

🇲🇾 Malaysia’s trade performance hit a new record in the first five months of 2026. 📈 Exports +24.3% 📈 E&E exports +39.7% 📈 Exports to the US +45.5% Behind these numbers lies a bigger story: semiconductors, AI infrastructure, data centres, and the global supply chain shift. The next wave of opportunities may already be taking shape. 👀

Permohonan IPO Financing: IPO SRKKAI Permohonan IPO Financing untuk IPO SRKKAI telah dibuka. Insights: SRKK AI Berhad Pelanggan yang membuka akaun CDS Mplus di bawah rakan kongsi remisier kami, tuan Anas Faris boleh melengkapkan maklumat dalam pautan di bawah. Pautan: Permohonan IPO Financing Alert IPO Financing: iSaham IPO Financing Alert Disclaimer: 1. Makluman ini bukan saranan untuk memohon mana-mana IPO. Diwajibkan untuk membuat kajian sendiri dan hanya menggunakan pembiayaan pada IPO yang dinilai berkualiti dan bersesuaian dengan tahap risiko masing-masing. 2. Kemudahan pembiayaan ini adalah terhad dan berdasarkan konsep first come, first served. 3. Fungsi pembatalan IPO dalam aplikasi M+ Global belum tersedia buat sementara waktu. Disarankan untuk membuat kajian sebelum menghantarkan permohonan IPO.

Source: Azhar Khamaruzaman FB

━━━━━━━━━━━━━━━━━━━━━━━ 📊 IPO REPORT | SRKK AI BERHAD ━━━━━━━━━━━━━━━━━━━━━━━ 🏢 IT / Digital Transformation & AI-Enabled Solutions | ACE Market 💰 IPO Price: RM0.32 | Mkt Cap: RM90.9m 📅 Apply: 18–25 Jun 2026 | Listing: 9 Jul 2026 ✅ Shariah Compliant ━━━━━━━━━━━━━━━━━━━━━━━ ⚖️ VERDICT: UNDERVALUED ✅ ━━━━━━━━━━━━━━━━━━━━━━━ Base FV of RM0.374 sits 17% above IPO price of RM0.32 — the AI branding and Microsoft partnership credentials are not yet reflected in the valuation, and the peer multiple for IT solutions companies on Bursa runs significantly higher. ⚠️ Watch: Despite growing revenue 44% over 3 years, PAT margins are thin and essentially flat (6–7% range throughout). This is a project-based systems integrator with Microsoft reselling at its core — most revenue is pass-through. The "AI" label is largely a rebrand of existing IT consulting work using third-party AI-enabled software, not proprietary AI development. If margins don't expand post-IPO, earnings growth will remain pedestrian. ━━━━━━━━━━━━━━━━━━━━━━━ 💰 IPO FV ━━━━━━━━━━━━━━━━━━━━━━━ 📐 Fundamental FV: RM0.339 – RM0.410 (Bear–Bull range) 🧠 Sentiment FV: RM0.35 – RM0.45 (AI theme plays well with retail; Microsoft partnership + first in Malaysia with all 6 AI Cloud Partner designations gives a narrative lift) ━━━━━━━━━━━━━━━━━━━━━━━ 💡 STRATEGY ━━━━━━━━━━━━━━━━━━━━━━━ ✅ Apply: Yes — 17% discount to base FV with meaningful AI sentiment tailwind 🎯 Target: RM0.37 – RM0.42 💰 Partial: Consider selling 50% at RM0.38–0.40 on listing day 🚪 Exit: Sell if opens above RM0.45 (sentiment overshoot of fundamentals) 📦 Hold: Only if post-listing closes above RM0.35 with consistent volume — revenue growth is real even if margins are thin ━━━━━━━━━━━━━━━━━━━━━━━ 🎯 LISTING DAY PRICE BANDS ━━━━━━━━━━━━━━━━━━━━━━━ 🔴 Below RM0.32 → Cut loss early 🟡 RM0.32–RM0.38 → Hold / partial exit 🟢 Above RM0.38 → Exit Zone, sell into strength ━━━━━━━━━━━━━━━━━━━━━━━ 📐 FAIR VALUE (Data Only) ━━━━━━━━━━━━━━━━━━━━━━━ 🐻 Bear: RM0.339 (+5.9%) ⚖️ Base: RM0.374 (+16.9%) ← target 🐂 Bull: RM0.410 (+28.1%) P/E: 2.40 sen × 10x = RM0.240 DCF: RM6.805m × 1.08 / (9%-3%) / 284m shares = RM0.431 Peer: Infomina (INFOM) ~27x, ACE IT sector avg ~22x → RM0.528 ━━━━━━━━━━━━━━━━━━━━━━━ ⚠️ ANALYST NOTES ━━━━━━━━━━━━━━━━━━━━━━━ The DCF and peer multiples are doing the heavy lifting here — P/E-only valuation at 10x puts FV at RM0.24, which is below the IPO price. This means the UNDERVALUED verdict is heavily dependent on: (1) market accepting a higher peer multiple due to the AI/tech positioning, and (2) DCF assumptions holding. Both are contestable. SRKK is fundamentally a Microsoft reseller and IT managed services company that has rebranded as "AI" — revenue is largely pass-through hardware/software and project-based contracts, not recurring SaaS or proprietary IP. GP margins at 22% are consistent with a low-margin integrator, not an AI company. The prospectus price of 13.35x on FY2025 PAT is actually conservative by Bursa IT sector standards, which is the real reason for the UNDERVALUED call — the market tends to re-rate IT/AI ACE companies to 20x+ regardless of underlying margin quality. Listing expenses of RM4.5m (22% of gross proceeds from a RM20.5m raise) are very high. Revenue growth is genuine and accelerating — RM112m in FY2025 vs RM75m in FY2022 is a real business. Apply for stag and short-term hold; fundamental buy-and-hold case requires margin expansion evidence. ━━━━━━━━━━━━━━━━━━━━━━━ Disclaimer: For informational purposes only. Not financial advice. Based on SRKK AI Berhad Prospectus dated 18 June 2026. Individual risk profile applies.

39 sen

38 sen

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34.5 sen

35 sen

34.5 sen