KUALA LUMPUR, Malaysia, 21 January 2026 – Kee Ming Group Berhad, a mechanical and electrical (M&E) engineering solutions provider, has officially launched its initial public offering (IPO) prospectus, setting the stage for its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad as it seeks to accelerate expansion across infrastructure, industrial and clean energy segments.
With close to 13 years of operating history, Kee Ming has built a track record as a comprehensive M&E engineering specialist, providing electrical engineering services covering high-voltage (HV), medium-voltage (MV), low-voltage (LV) and extra-low voltage (ELV) installations. Its mechanical engineering expertise spans air conditioning and mechanical ventilation (ACMV) systems as well as fire protection systems, while its clean energy portfolio includes solar photovoltaic (PV) installations and electric vehicle (EV) charging solutions, aligning with Malaysia’s National Energy Transition Roadmap.
IPO Structure and Fundraising Target
Following the IPO exercise, Kee Ming is expected to raise RM25.32 million through the issuance of 66.63 million new shares at an issue price of RM0.38 per share. Applications for the public issue opened today and will close on January 27, 2026, with the company scheduled to be listed on February 12, 2026.
Upon listing, the group will have an estimated market capitalisation of RM123.50 million, based on its enlarged issued share capital of 325 million shares.
Use of IPO Proceeds
Kee Ming plans to deploy the IPO proceeds to strengthen execution capacity and support future growth. Of the total funds raised, RM13.00 million will be allocated as project working capital for upcoming projects, while RM4.00 million will be set aside for performance bonds required for new contracts.
In addition, RM1.72 million will be used to expand the project team, RM1.00 million for the purchase of an enterprise resource planning (ERP) system, and RM0.60 million for general working capital. The remaining RM5.00 million will be used to defray fees and expenses related to the IPO exercise.
Management and Adviser Commentary
Managing Director Ir. Liew Kar Hoe said the prospectus launch marks a pivotal milestone for the company.
“The IPO will strengthen our operational capabilities and enable us to undertake larger and more complex projects across industrial, commercial, residential and clean energy-related segments. This reinforces our commitment to delivering safe, reliable and high-quality engineering solutions while creating long-term value for stakeholders,” he said.
TA Securities Holdings Berhad, the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for the IPO, said Kee Ming is well positioned to benefit from Malaysia’s expanding construction and renewable energy sectors, supported by its diversified engineering capabilities and experienced management team.
Meanwhile, Eco Asia Capital Advisory Sdn. Bhd., which serves as Financial Adviser to the IPO, highlighted that the fundraising will allow Kee Ming to scale resources, enhance execution capacity and expand its footprint nationwide.
Industry Outlook
According to the Independent Market Research report cited in the prospectus, Malaysia’s M&E engineering services market was valued at RM9.61 billion in 2024, up 21.8% from RM7.89 billion in 2023, and is projected to grow to RM16.82 billion by 2029, representing a compound annual growth rate of 11.9%. Growth drivers include industrial expansion, data centre investments and the accelerating transition toward renewable energy and EV infrastructure.
The outlook is further supported by the Malaysian government’s RM430 billion development expenditure under the 13th Malaysia Plan, which includes major allocations for infrastructure, infostructure, flood mitigation and affordable housing, sectors that underpin demand for M&E engineering services.
