Swift Energy Technology Berhad - A Leading Provider of Industrial Automation and Power Systems

Swift Energy Technology Berhad (SWIFT) is principally involved in the provision of industrial automation and power systems, focusing on process control, Ex solar PV, power distribution, and other systems. It primarily serves customers in the oil and gas sector, as well as the grain products, edible oils, and food manufacturing industries. Meanwhile, the group is also involved in supplying related products and services.

The IPO entails a public issue of 250,200,000 new ordinary shares, and an offer for sale of 50,040,000 shares at an IPO price of RM0.28/share.

– 50,040,000 new shares for application by the Malaysian public;

– 50,040,000 new shares for application by eligible parties;

– 25,020,000 new shares for private placement to selected investors; and

– 125,100,000 new shares for private placement to Bumiputra investors approved by MITI.

1. Established track record in the provision of industrial automation and power systems;

2. Strong market presence with large customer base; and

3. Experienced management team.

At an IPO price of RM0.28/share, SWIFT is priced at a trailing PER of 23.9x FY23 core EPS. We value the company at 18x CY25 EPS, arriving at a fair value of RM0.32/share.