ACE Market
Technology (Digital Transformation & AI Solutions)
Shariah Compliant
Grade: A
SRKK AI Berhad
Bursa Ticker: SRKKAI | Listing Year: 2026
Offer Price
RM 0.32
Sifu Target Price
RM 0.66 (+106.3%)
Retail Oversubscription
312.3x
Underwriter (IB)
TA Securities
Key Dates & Offering Details
Application Closing
25-Jun-2026
Listing Date
09-Jul-2026
Target P/E Ratio
22x
Total Enlarged Shares
284.00 M
Free Float
25.0%
MITI Special Allocation
No Tranche
Analyst Commentary & Hunter Insight
🚀 EXCEPTIONAL DEMAND (GRADE A)
• Record Oversubscription: 312.3x retail demand — highest in 2026; certified Microsoft AI Cloud partner.
• Recurring Revenue: ~50% recurring income with fair 18.2x P/E on RM0.32 offer price.
• Outlook: Strong debut pop anticipated on enterprise AI digitization theme.
• Record Oversubscription: 312.3x retail demand — highest in 2026; certified Microsoft AI Cloud partner.
• Recurring Revenue: ~50% recurring income with fair 18.2x P/E on RM0.32 offer price.
• Outlook: Strong debut pop anticipated on enterprise AI digitization theme.
Growth Catalysts & Strategic Moats
- AI-First Strategy & SOC Expansion: Menggunakan hasil IPO untuk membina AI labs, akademi, dan menaik taraf Security Operations Centre (SOC) untuk menawarkan perkhidmatan bernilai tinggi.
- Microsoft Managed Partner: Rakan kongsi Microsoft Managed Partner pertama di Malaysia dengan kesemua kompetensi AI Cloud, memberikan kelebihan persaingan yang unik.
- Prestasi Kewangan Teguh: PAT meningkat dari RM4.36 juta (FY23) kepada RM6.81 juta (FY25), disokong oleh hasil recurring bernilai tinggi.
Financial Performance Summary
| Financial Metric | FY23 | FY24 | FY25 | Projected (FY F) |
|---|---|---|---|---|
| Revenue (RM) | 85.00 M | 95.00 M | 112.16 M | 140.32 M |
| Profit After Tax (PAT) | 4.36 M | 5.01 M | 6.81 M | 8.52 M |
| EPS (sen) | 1.54 | 1.76 | 2.40 | +24.6% |
Utilization of Proceeds
Modal kerja, penyelidikan & pembangunan (R&D), serta pengembangan pasaran.
Peer Comparison & Valuation Context
Peer Comparison: Implied PE terbitan FY25 sekitar 13.3x, didagangkan pada diskaun ketara berbanding peers teknologi ACE Market (purata 20x-25x PE). Nilai wajar Sifu dianggarkan sekitar **RM 0.39** berdasarkan PE 22x (FY24 PAT), menawarkan potensi upside sekitar +22%.
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