TP TEC AIMS TO MAINTAIN DOUBLE-DIGIT REVENUE GROWTH, PLANS ACE MARKET ENTRY [Update 2]

*(Adding last para for closing share price)*

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KUALA LUMPUR, Dec 11 (Bernama) -- Fresh from its debut on Bursa Malaysia Securities Bhd's LEAP Market today, TP Tec Holding Bhd is already planning to enter the ACE Market within the next two to three years.

The power and equipment solutions provider expects its annual double-digit revenue growth to be sustainable, driven by Malaysia's accelerated 5G deployment and the rapid data centre expansion in the country.

Managing director Lau Poh Keong said the company also anticipates its performance to be further enhanced with its plans to enter the ACE Market within the next two to three years.

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"With our current contracts valued at RM110 million and unbilled contracts at RM77.06 million, we are well-positioned to sustain this growth over the next two to three years.

"Our solid performance reflects the increasing demand for our services, particularly in sectors like telecommunications and construction," he told reporters at the company's debut on the LEAP Market today.

He said 80 per cent of the company’s revenue currently comes from the telecommunications sector, while the remaining 20 per cent is derived from construction.

"We aim to penetrate the data centre market further as the sector increasingly comes into focus, particularly in the southern part of Malaysia.

"While we anticipate overall revenue growth, the percentage contribution from each sector is expected to remain relatively stable for the time being," he said.

The company made its debut with a 3.0 sen premium over its IPO price of 10 sen, with 5,000 shares traded.

At 5 pm, its shares remained unchanged at 13 sen, with 5,000 shares traded. 

-- BERNAMA