SRKK AI Aims To Raise RM20.48 Mln From IPO For Strategic Growth Initiatives In AI

KUALA LUMPUR, June 18 (Bernama) -- SRKK AI Bhd aims to raise RM20.48 million in proceeds from its Initial Public Offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd, primarily for strategic growth initiatives in Artificial Intelligence (AI).

The company’s IPO exercise entails a public issue of 64.00 million new ordinary shares, and an offer for sale of 13.00 million shares at 32 sen apiece.

The applications for the IPO will close on June 25 and listing has been scheduled for July 9.

SRKK AI chief executive officer Yew Lip Sin said that of the RM20.48 million in proceeds raised, RM4.0 million has been earmarked for strategic growth initiatives in AI.

“SRKK AI growth initiatives include the setup of AI labs and AI academy, and the development of AI-enabled data analytics and software solutions.

“Another RM1.84 million is allocated for geographical expansion into Indonesia; and RM3.70 million to build an in-house Security Operations Centre,” he said in a statement today.

Yew also added that a further RM1.80 million is allocated for branding, marketing and promotional activities, RM4.64 million for working capital, and RM4.50 million to defray listing expenses. 

He also said that SRKK AI’s IPO was driven by increasing adoption of AI-enabled solutions by enterprises, and the large AI market potential with Microsoft’s US$2.2 billion (US$1=RM4.07) investment into Malaysia’s cloud and AI infrastructure.  

“AI-enabled solutions constituted 11 per cent or RM11.8 million of SRKK AI’s revenue for the financial year ended Dec 31, 2025. 

“We have successfully embedded AI into our clients’ solutions and have seen increasing adoption in AI-enabled solutions since 2022,” he said.

-- BERNAMA