TP TEC Holding Berhad made its debut on the LEAP Market of Bursa Malaysia Securities Berhad today, trading under the ticker symbol "TPTEC" and the stock code "03061". The stocks opened at 13 sen, which was a 3 sen or 30% premium over its IPO issue price of 10 sen.

"Today marks a historic milestone for TP TEC Holding as we make our debut on Bursa Malaysia's LEAP Market," said Lau Poh Keong, Managing Director of TP TEC Holding. "Our listing is a testament to the strength of our business model and our commitment to delivering innovative, reliable, and sustainable power and equipment solutions. It not only elevates our corporate profile but also positions us to leverage the capital markets for future growth."

Based on its Listing Reference Price of RM0.10, the Group has a market capitalisation of RM25.00 million.  The listing was by way of introduction as such, no new shares were issued and no additional funds were raised as part of the listing process. However,  prior to the listing, TP TEC Holding had raised RM2.50 million through a private subscription of shares exercise that took place in August 2024. 60% of the proceeds from this exercise will be used to expand the Group's fleet of power generators, with the remaining 40% used to defray listing expenses.

During the financial year ended 31 December 2023, TP TEC Holding recorded a 76.78% increase in revenue to RM19.87 million, driven mainly by increased demand for rental of power generators from the telecommunications industry. The higher revenue, in turn, resulted in a 136.36% increase in the Group's profit after tax to RM1.30 million compared to the previous financial year.