Power engineering solutions provider, EI Power Berhad (“EIP”) (亿埃電能), has launched its prospectus today in conjunction with its initial public offering (“IPO”) exercise on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
Photo caption (from left to right):
- Datuk Wira Sam Ooi Chin Khoon (拿督威拉黄贞焜), Group Managing
Director of OCK Group Berhad - Datuk Jamaludin Bin Nasir, Independent Non-Executive Chairman of EI
Power Berhad - Ms. Sharon Mak May Cheng (麦美清女士), Executive Director cum Chief
Operating Officer of EI Power Berhad - Ir. Albert Chang Wan Siong (曾运祥先生), Executive Director cum Chief
Executive Officer of EI Power Berhad - Datuk Bill Tan Choon Peow (拿督陈俊㟽), Managing Director of M & A
Equity Holdings Berhad - Mr. Gary Ting Hua Tai (丁华代先生), Head of Corporate Finance of M & A
Securities Sdn Bhd
Based in Shah Alam, EIP, through its subsidiaries (collectively known as the “Group”) is an engineering, procurement, construction, and commissioning (“EPCC”) provider of mission critical, conventional, and renewable energy power solutions. Its scope of work involves the design, project management, supply, installation, testing, commissioning, and maintenance of diesel generation, fuel distribution systems, and
solar photovoltaic (“PV”) systems.
The Group has established a strong presence in mission critical facilities such as data centres and semiconductor plants, in addition to undertaking projects across commercial, industrial and residential properties, as well as solar farms. With a presence across Peninsular Malaysia, the Group delivers projects nationwide, ensuring business continuity for its customers.
Since 2022, the Group has completed 146 projects with a combined project value of RM188.2 million, which includes data centres, industrial and commercial properties.
This is further underpinned by total unbilled order book of RM99.9 million as at 24 March 2026, comprising predominantly by data centre projects, reflecting continued demand for mission critical power solutions.
For the financial year ended 31 December 2025 (“FYE 2025”), the Group’s revenue grew 53.6% year-on-year (“YoY”) to RM77.4 million from RM50.4 million in FYE 2024, primarily driven by higher contribution from data centre projects, which made up 86.3% of turnover. Meanwhile, profit after tax surged 112.1% YoY to RM19.3 million from RM9.1 million over the same period.
Executive Director cum Chief Executive Officer of EIP, Ir. Albert Chang Wan Siong (曾运祥先生) said, “Our prospectus launch today represents the culmination of hard work and commitment by the team over the past year as we work towards becoming a public-listed company. We are now entering the last mile in this journey and look ahead with confidence as we execute our growth plans.”
“The proceeds from the IPO will enable us to strengthen our operational capabilities and support our expansion plans, including the establishment of a new headquarters cum warehouse in Selangor, the set-up of a branch office in Johor, and our venture into Thailand’s growing data centre market. Meanwhile, we are also expanding our solutions offering to include building energy efficiency systems. Collectively, these initiatives will enhance our corporate image, support workforce expansion, and position us to capture opportunities arising from the growing emphasis on cost optimisation and sustainability.”
The power engineering industry in Malaysia, based on EPCC spent on power engineering solutions, is projected to expand to RM5.6 billion by 2027 from RM4.9 billion in 2025, representing a 2-year compound annual growth rate of 6.9%. This growth is driven by strong demand from data centre developments, fuelled by hyperscale and artificial intelligence workloads, as well as continued expansion in the semiconductor and electronics industry amid advancements such as 5G and the
Internet of Things.
EIP intends to raise RM62.2 million from the public issue under the IPO. The expected proceeds are set to be utilised in the following manner:
The IPO exercise entails a public issue of 129.5 million new ordinary shares (“Issue Shares”), representing 18.5% of its enlarged share capital, as well as an offer for sale of 70.0 million existing shares (“Offer Shares”), accounting for 10.0% of its enlarged share capital.
Of the 129.5 million Issue Shares, 35.0 million Issue Shares will be made available to the Malaysian public via balloting; 17.5 million Issue Shares to its eligible directors, employees and persons who have contributed to the success of the Group (“Pink Form Allocation”); 14.0 million Issue Shares for the entitled shareholders of OCK Group Berhad (“OCK”) via restricted offering; while the remaining 63.0 million Issue
Shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”).
As for the 70.0 million Offer Shares, 24.5 million Offer Shares will be made available by way of private placement to selected Bumiputera investors approved by the MITI, with the remaining 45.5 million Offer Shares to be placed out to selected investors.
Upon listing, EIP will have a market capitalisation of RM336.0 million based on an enlarged issued share capital of 700.0 million shares and an IPO price of 48 sen per share.
Following the prospectus launch, applications for the public issue will be open from today and will be closed on 6 May 2026 at 5:00 pm. EIP is scheduled to be listed on the ACE Market of Bursa Securities by 21 May 2026.
M&A Securities is the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
About EI Power BerhadBased in Shah Alam, EI Power Berhad (“EIP”), through its subsidiaries, is a power
engineering firm principally involved in the engineering, procurement, construction, and commissioning of mission critical power solutions, conventional power solutions, and renewable energy power solutions. EIP serves a diverse range of industries, including data centres, commercial, industrial and residential developments, as well as solar farms.
For more information, please visit https://www.eip.com.my/
