IPO FACTSHEET

SFP TECH HOLDINGS BERHAD (0251)

ACE MARKET | 20 JUNE 2022 | TECHNOLOGY

IPO STATISTICS

IPO Price (RM) 0.30

(RM62.23 million
from new issue)
Use of Proceed
24.5 15.0 10.0 5.1 4.6 3.0
Fund Raised (RM million) 62.23 from new issue
Enlarged issued share capital upon listing 800.00 Purchase of new machinery and equipment
(million shares) Construction of new manufacturing plant
Repayment of bank borrowings
IPO Market Capitalisation (RM million) 240.00 Working capital expenditure
Price Earnings Ratio (PER) 12.36x Estimated listing expenses
D&D centre

BUSINESS OVERVIEW

Revenue Segmentation Principal Markets

Business Activities
(FY2021) (FY2021 Revenue)
SFP Tech is an engineering supporting service provider, principally involved
in the provision of sheet metal fabrication, CNC machining and mechanical Mechanical USA
CNC Malaysia
assembly services. assembly 6.0%
machining 78.7%
13.6%
62.7%
Subsequent to the acquisition of EST Exhibit Automation Sdn Bhd (EEASB),
Singapore
the company is also involved in the provision of automated equipment
15.2%
solutions. The addition of the wholly-owned subsidiary enables the company
to become a one-stop automation equipment solutions provider by offering
in-house services for fabrication of component parts up to the assembly of Sheet Metal
Fabrication Others
the completed automated equipment. The acquisition of EEASB was
23.7% <0.1%
completed on 18 March 2022.

Design and Development (D&D) Activities pen

Undertakes product development activities based on its customers’ product
specification. Majority of its product development process is undertaken
jointly and in consultation with its customers, to develop and refine a
product’s design.
All its engineering supporting services and automated equipment
manufactured are customised in nature.
Competitive Strength
• Integrated capabilities to provide engineering supporting services
and automated equipment solutions
• Established track record and business relationship with its customers
in engineering supporting services segment
• Continuous investment in advanced machinery and equipment for its
engineering supporting services segment
• Experienced management and technical team

GROWTH STRATEGIES AND FUTURE PLANS

▪ Expansion of product and service offerings in the automated equipment solutions by manufacturing vision inspection equipment handler platforms
embedded with camera imaging and electronics system.
▪ Expansion of production capacity and capabilities of its engineering supporting services via the construction of Manufacturing Plant 3 and purchase of
new machineries to take on additional business opportunities.
▪ Local market expansion by expanding into vision inspection industry
▪ In-house D&D expansion to allow customisation of both its engineering supporting services and automated equipment solutions’ products and services

FINANCIAL PERFORMANCE & PEER ANALYSIS

60 55.3% 56.7% 53.9% 60%

Revenue and

Company PAT Margin PER (x)

GP Margin

40 50.4 40% (%)

41.1
Peer Analysis

Kobay Technology Berhad(1) 17.2 20.83

20 30.3 20% UWC Berhad(1) 32.1 33.51
SFP Tech 38.5 12.36
0 0% AT Systemization Berhad(2) (66.4) N.A.
FY2019 FY2020 FY2021 Greatech Group Berhad(2) 35.2 37.84
Revenue (RM mil) GP Margin (%) MMS Ventures Berhad(2) 21.7 14.11
Pentamaster Corporation Berhad(2) 22.7 34.51
QES Group Berhad(2) 8.8 26.00
30 60% Visdynamics Holdings Berhad(2) 20.1 11.68
Profit and Margin

(1)
Comparable peers for engineering supporting services
20 40% (2)
Comparable peers for automated equipment solutions
20.8 19.4
18.8 17.6 * Selected peers listed on Bursa Malaysia as identified in the Independent Market
Research Report. PAT margin based on prospectus and annual reports. Trailing 12
10 12.1 20% month PER data from Bloomberg at time of research, SFP Tech’s PER at IPO.
10.5

0 0%
FY2019 FY2020 FY2021
PBT (RM mil) PAT (RM mil)
PBT Margin (%) PAT Margin (%)

PROMOTERS & SUBSTANTIAL SHAREHOLDERS

Promoter/ Substantial Shareholder Designation Shareholding after IPO

Direct Indirect
Keoh Beng Huat Promoter and substantial shareholder. Managing Director 68.85% -

All information in the factsheet are extracted from the prospectus unless stated otherwise. Investors should make the investment decision by referring to the prospectus for full details.
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