Lowyat.NET: Latest topics by Softenedheart

How to subscribe US IPO

Softenedheart — Thu, 04 Jun 2026 20:33:12 +0800

Hi. I'm new to US market. I tried Moomoo and M+ both no option to subscribe

IPO: Sum Technology Berhad

Softenedheart — Thu, 28 May 2026 08:20:48 +0800

Sum Technology Berhad recently launched its prospectus on 20 May 2026 for its upcoming listing on the ACE Market of Bursa Malaysia (Stock Code: SUM / 0459.MY). The company is looking to raise RM32.76 million to fuel its expansion into high-growth tech sectors across Southeast Asia.

Here is a comprehensive breakdown of everything you need to know about the IPO, their business model, and their recent financial performance.

1. IPO Structure & Key Dates

Sum Technology is issuing 117 million new ordinary shares(representing 26% of its enlarged share capital) at a fixed price of RM0.28 per share. This values the company at a market capitalization of RM126 million upon listing.

Share Allocation Breakdown
*Malaysian Public (via balloting): 22.50 million shares (5.0%)
*Eligible Employees & Directors (Pink Forms): 4.50 million shares (1.0%)
*MITI-Approved Bumiputera Investors (Private Placement): 56.25 million shares (12.5%)
*Selected Investors (Private Placement): 33.75 million shares (7.5%)

2. Company Activity & Core Operations
*Sum Technology operates as an integrated turnkey solutions provider specializing in Cleanroom, Mechanical, Electrical, and Process Utilities (MEP) systems.
They focus on environments that require strict mechanical and contamination control. This exposes them directly to two massive macroeconomic growth engines: semiconductors/E&E manufacturing and data centers (DCs).
*EPCM Services: They handle the entire project lifecycle—Engineering, Procurement, Construction, Commissioning, and Project Management—handing over ready-to-use facilities to clients.
*In-House Manufacturing Advantage: Through their subsidiary, Micronaire Global Sdn Bhd, they manufacture their own brand of Air Handling Units (AHUs) and Fan Filter Units (FFUs). This in-house capability gives them a massive edge over competitors by allowing better margin control and product customization.
*Geographical Footprint: While Malaysia remains their bread and butter, the Philippines has emerged as their largest and fastest-growing overseas market, primarily driven by expanding data center infrastructure.

3. Financial Performance & Health
Financially, Sum Technology has demonstrated a steady upward earnings trajectory over the last few fiscal years.
| Financial Indicator | FYE 2024 | FYE 2025 |
|---|---|---|
| **Revenue** | RM51.35 million | RM65.67 million |
| **Gross Profit (GP)** | *N/A* | RM15.65 million |
| **Profit After Tax (PAT)** | RM5.39 million | RM6.06 million |
| **PAT Margin** | ~10.5% | ~9.23% |

Growth Context: The PAT margin of 10.5% in FY24 was a major step up from 5.8% in FY23 and 7.77% in FY22, highlighting significantly improved operational efficiencies and better-margin project mix.

As of late 2025, their confirmed order book stood at RM36.85 million, and they boast an active tender book of roughly RM385 million worth of potential projects currently under bidding.

4. Utilization of IPO Proceeds
The RM32.76 million raised from the public issue will be distributed across five main areas to scale operations:
*Working Capital (54.70% / RM17.92 million): Deployed to fund day-to-day operations, purchase materials, and support performance bonds required for securing larger-scale corporate projects.
*Headquarters Expansion (17.03% / RM5.58 million): To acquire/expand office space in Ara Damansara, Selangor, to accommodate growing technical and administrative teams.
*Listing Expenses (11.90% / RM3.90 million): To cover advisory, underwriting, placement, and regulatory costs.
*Expanding to the Philippines (8.74% / RM2.86 million): Establishing a formal regional hub/office in Manila to better capture local data center and mechanical ventilation (MVAC) contract wins.
*Design & Development (7.63% / RM2.50 million): Investment into specialized engineering tools, CAD systems, and AI-driven design software to elevate technical precision.

5. Key Risks to Keep in Mind
If you are evaluating this as a potential addition to your portfolio, there are a few built-in risk factors to note:
1. Subcontractor Dependency: They rely heavily on third-party subcontractors for on-site civil and physical installation work, exposing them to potential quality control or labor issues.
2. Project Volatility: Turnkey engineering projects are vulnerable to material cost hikes (like steel or copper) and strict project timelines. Delays can lead to costly liquidated damages.
3. No Formal Dividend Policy: Currently, there is no fixed dividend policy layout. Capital will be aggressively re-invested into scaling operations for the foreseeable future.

IPO: Elsa Berhad

Softenedheart — Tue, 19 May 2026 08:50:42 +0800

Price: RM0.23
Ballot: 5 June
Listing: 16 June

I lost again in bursa

Softenedheart — Mon, 30 Mar 2026 22:26:54 +0800

So last friday i enter sunmed before closing at 2.37. who know today fall until 2.09. I dont know why when I decide to enter and hold the price will drop extreme. My heart very hurt now.

Who else got burnt by sunmed today?

I lost a lot in bursa today

Softenedheart — Mon, 09 Mar 2026 17:03:56 +0800

I made huge mistake buying pchem stock at rm4.61 today. Now lost a lot of my capital. Just ranting😔

Own BMW or Merc consider

Softenedheart — Mon, 25 Aug 2025 14:01:24 +0800

Today i overheard some guy said own BMW or Merc is consider rich. What /k think?

Change job after 9 months

Softenedheart — Mon, 21 Jul 2025 11:08:47 +0800

What you guys think? I have been working 9 months in Singapore. Now accidentally applied and interviewed and got job offer with 30% salary increase. Should i jump?

Cancel loan after disbursement

Softenedheart — Thu, 24 Apr 2025 21:53:32 +0800

Hi /k

Anyone know if can cancel personal loan after disbursement? Reason is I just notice HLB is having 3.99% promo for personal loan. My rate is previous which is 5%. The money just disburse to my account this morning. Any way to undo it? After I check the difference of effective rate is a LOT. Thank you all

Personal loan rejected

Softenedheart — Tue, 18 Feb 2025 15:18:20 +0800

I just apply personal loan. I'm planning to buy a piece of land with it. However got rejected because my new Singapore job is contract based and not permanent despite having perfect on time payment on my CCRIS record for all commitments.

Got scammed

Softenedheart — Thu, 05 Dec 2024 20:34:31 +0800

So I'm using Redmi Turbo 3 for some time. I've looking for unlock bootloader service and met a seller in a group. Long story short i got scammed for rm200. Feeling kind of stupid. Red flag should be this foreign seller can give local bank account (GXbank). Nowadays scammer so advanced.

Anyway what is your got scammed memory? Come share your experience

Fed up with 5G

Softenedheart — Thu, 21 Nov 2024 01:35:23 +0800

I dont understand with Malaysia mobile connection. At my house I can get full bar 5G. But it always change to 2-3 bars 4G which is not usable at all probably due to congestion. I don't understand if 5G is full bar why my connection always got knock down to 4G that only have 2-3 bar coverage. Very stupid

Anyone face same problem?

Surprise job offer

Softenedheart — Fri, 01 Nov 2024 09:55:20 +0800

Few weeks ago I was rage applied job and got multiple interview. Recently I received a job offer unexpectedly since the last round interview only last 15 mins. The salary offer is more than double and it is big MNC. Position wise is same as my current job which is IT. Should i take it? I feel like betraying my current company and boss but i need the money and big MNC have more opportunities for me to grow like jump to other project internally.

cheap 1hp inverter

Softenedheart — Sun, 13 Oct 2024 21:47:49 +0800

Hi all. Anyone have experience using AUX brand for aircond? I found this brand very cheap. After voucher it is very cheap for an inverter 4 star aircond. What you guys think? Buy or not?

15 min interview

Softenedheart — Wed, 02 Oct 2024 14:55:43 +0800

I was in final round interview. Total duration is 15 mins. Do you think i got the job? I was able to answer all technical questions though.

Guide for MNC interview

Softenedheart — Tue, 01 Oct 2024 11:13:57 +0800

Hi all

I got interview with MNC. To be honest I never have a very good experience interviewing with MNC in the past. I still remember one of the interview, the interviewer even talk down about my me during the sessions.

Any guide and tips on how to perform well?

Earn SGD

Softenedheart — Thu, 19 Sep 2024 21:28:47 +0800

Hi all,

My friend just got job offer in Singapore. The basic salary is SGD2500 junior in IT field. Is the salary worth it to work in Singapore? She planning to take bus and cross border everyday. Currently her salary is small working in Malaysia IT so that is why she taking chance to cross border

You on leave..

Softenedheart — Mon, 09 Sep 2024 12:50:16 +0800

If you on leave but suddenly boss or client call you to settle work ASAP will you entertain?

I have team but still I received call/chat on my leave day. At the end of the day I had to entertain bossy client who only think about themself.

What will you do?

Birthday present

Softenedheart — Tue, 03 Sep 2024 19:00:11 +0800

Hi /k

My best friend is asking me idea on what to give his gf for birthday? Can /k help me to advice him best present to give his gf?

Customer service worker

Softenedheart — Fri, 30 Aug 2024 23:27:49 +0800

How can people in customer service cope with this position? When there is issue client chase very aggresively. Even chase CS big boss. Then boss will chase the CS staff.

Even worse if CS is to support product for 3rd party vendor. Vendor will take sweet time to response while CS will be under fire from client and boss.

Even worse when the vendor have set of thing to verify to follow before deploy onsite service/repair and client dont want to verify. Now CS stuck in middle

How to approach woman

Softenedheart — Wed, 28 Aug 2024 22:04:01 +0800

Hi /k

I am a shy nerd male and have no confidence to aproach woman. Recently i was at restaurant. I meet eye with one pretty staff there. She smile at me but i am too shy i just look elsewhere very fast. Normally how /k approach stranger female at public to ask for contact?

Kindly advice me