iCents Group is preparing to expand its operations into Singapore and Indonesia following the launch of its initial public offering (IPO) on Bursa Malaysia’s ACE Market.
The company, which designs, manufactures, and installs cleanroom fixtures and systems, is scheduled to debut on the exchange on 17 July 2025.
iCents Group Holdings is preparing to expand its operations into Singapore and Indonesia
iCents aims to raise RM27 million (Malaysian ringgit) through the distribution of 112.5 million new shares at RM0.24 each. An additional 30 million shares will be made available via private placement.
According to Bursa Malaysia filings and the company’s prospectus, approximately 45% of the IPO proceeds have been allocated to working capital, while 17% will be directed towards the purchase of new machinery and equipment.
The remainder will fund business expansion activities, product development, marketing, and listing-related expenses.
Regional expansion plans
As part of its growth strategy, iCents has incorporated a subsidiary, iCents Engineering, to manage its regional operations.
The group intends to establish new offices in Singapore, Jakarta (Indonesia), and Kuching (Malaysia).
The company, which designs, manufactures, and installs cleanroom fixtures and systems, is scheduled to debut on the exchange on 17 July 2025
These offices will support sales, technical services, and project execution, with operations expected to commence between the second half of 2025 and 2026.
In Singapore, the company plans to develop a sales, marketing, and client support hub to service cleanroom projects in the region.
In Indonesia, a sales and technical service office is planned in Jakarta, while the Sarawak facility will focus on regional project delivery.
Domestic capacity expansion
In parallel with its regional plans, iCents will construct a new facility in Mantin, Negeri Sembilan, Malaysia. The site will house additional machinery and warehousing, as well as expanded office space.
The facility is scheduled to be operational by December 2025 and will support increased production capacity and project demand.
Product development and Intellectual Property (IP)
The company also intends to enhance its product range, which includes cleanroom wall panels, doors, windows, and heavy-duty ceilings.
It has allocated funds for research and development equipment, as well as for patent registrations in Malaysia, Singapore, Indonesia, Australia, and Vietnam.
The company also intends to enhance its product range, which includes cleanroom wall panels, doors, windows, and heavy-duty ceilings
According to its prospectus, iCents holds an unbilled order book valued at RM93 million.
The company currently maintains a market share of under 5% in Malaysia’s cleanroom segment but expects growth opportunities driven by increased demand from the semiconductor, data centre, pharmaceutical, and life sciences sectors.
IPO demand and market outlook
iCents reported strong demand for its IPO, with applications from the Malaysian public oversubscribed by 2.3 times.
Analysts cited favourable market conditions and the region’s growing cleanroom infrastructure requirements as factors underpinning investor interest.
The company’s expansion strategy coincides with increased capital investment in cleanroom facilities across Southeast Asia, driven by rapid growth in high-technology manufacturing and healthcare sectors.
