Kuala Lumpur, 2 April 2026 – Power engineering solutions provider, EI Power Berhad (“EIP”) (亿 埃 電 能), has today entered into an underwriting agreement with M & A Securities Sdn Bhd (“M&A Securities”), a wholly-owned subsidiary of M & A Equity Holdings Berhad, in conjunction with its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
EIP, through its subsidiaries (collectively known as the “Group”), provides engineering, procurement, construction, and commissioning (“EPCC”) of mission critical power solutions, conventional power solutions, and renewable energy power solutions. The Group’s power engineering solutions encompass the design, project management, supply, installation, testing, commissioning and maintenance of diesel generation and fuel distribution systems as well as solar photovoltaic (“PV”) systems, supporting the continuity of business operations for its customers.
Headquartered in Shah Alam, the Group has established a track record of approximately 16 years, serving various built environments ranging from commercial, industrial and residential properties to solar farms and mission critical facilities such as data centres and semiconductor plants. The Group’s operations span across Malaysia, with a presence in the central, southern, eastern and northern regions, reflecting its ability to deliver projects nationwide.
The Group is recognised as a Class A Electrical Contractor by the Energy Commission Malaysia. It is also registered as a Grade G7 Contractor with the Construction Industry Development Board, which allows it to undertake projects with no limit on contract value, and a Registered PV Service Provider with the Sustainable Energy Development Authority, enabling its participation in solar PV projects.
The IPO exercise involves a public issue of 129.5 million new ordinary shares (“Issue Shares”), representing 18.5% of its enlarged share capital, as well as an offer for sale of 70.0 million existing shares (“Offer Shares”), accounting for 10.0% of its enlarged share capital.
Of the 129.5 million Issue Shares, 35.0 million Issue Shares will be made available to the Malaysian public via balloting; 17.5 million Issue Shares to its eligible directors, employees and persons who have contributed to the success of the Group (“Pink Form Allocation”); 14.0 million Issue Shares for the entitled shareholders of OCK Group Berhad (“OCK”) via restricted offering; while the remaining 63.0 million Issue Shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”).
Meanwhile, of the 70.0 million Offer Shares, 24.5 million Offer Shares will be made available by way of private placement to selected Bumiputera investors approved by the MITI, with the balance 45.5 million Offer Shares to be placed out to selected investors.
Pursuant to the underwriting agreement, M&A Securities will underwrite a total of 66.5 million Issue Shares made available to the Malaysian public, Pink Form Allocations, and entitled shareholders of OCK.
Executive Director cum Chief Executive Officer of EIP, Ir. Albert Chang Wan Siong (曾运祥先生) said, “The signing of this underwriting agreement with M&A Securities marks a key milestone as we progress towards our upcoming listing on the ACE Market of Bursa Securities. It reflects the progress we have made and positions us to scale our operations, expand our capabilities, and elevate our presence in the market as we enter the next phase of growth.
"Proceeds from the IPO will be deployed to support our strategic initiatives, including expanding our operational capacity, enhancing our service offerings, and extending our geographic footprint, including into Thailand. These plans are aimed at enabling us to better serve our customers, remain competitive in a rapidly evolving market, and capture opportunities arising from increasing need for reliable and efficient power solutions.”
At the same time, the relocation of multinational semiconductor and electronics manufacturers to Malaysia continues to expand the pool of power-intensive facilities in the country. As these facilities are dependent on stable and uninterrupted power supply, the growth of these sectors is expected to increase requirements for reliable and high-capacity power infrastructure, which in turn strengthens demand for the Group’s power engineering solutions.
EIP is scheduled to be listed on the ACE Market of Bursa Securities by the second quarter of 2026. M&A Securities serves as the Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.