Pre-IPO: Regional E-Commerce Platform

Profile: AI-powered e-commerce platform | RM 65M revenue | RM 22M EBITDA | Preparing for ACE Market listing

Challenge: Fast-growing digital company with strong financials but significant IPO readiness gaps: inconsistent financial reporting across entities, weak internal controls, unclear group structure, and management unfamiliar with public market governance requirements. Previous audit had flagged material weaknesses that needed resolution before listing.

Outcome

Successfully listed on ACE Market, raising RM 35M at a RM 180M post-money valuation. The company achieved strong debut trading, and the disciplined IPO preparation process elevated their financial management capabilities for ongoing public market compliance.

Our CFO-Led Approach:

IPO Readiness Gap Analysis: Conducted comprehensive assessment against Bursa Malaysia requirements, identifying 18 critical gaps across financial reporting, governance, and disclosure

Pre-IPO Financial Restructuring: Standardized accounting policies, implemented proper revenue recognition controls, and established audit-grade financial reporting processes

Group Restructuring: Advised on corporate reorganization to simplify structure, eliminate non-core assets, and ensure regulatory compliance

Financial Track Record Preparation: Worked with auditors to ensure clean three-year audited financials with no material qualifications

Transaction Coordination: Acted as the company's strategic CFO, coordinating investment bankers, lawyers, auditors, and advisors throughout the 14-month IPO process

Prospectus Development: Guided preparation of financial sections, risk factors, and use-of-proceeds disclosures