Kuala Lumpur: Newly launched MaiStorage Technology Sdn Bhd is eyeing a listing on Bursa Malaysia by 2028. Founder and group chief executive officer Datuk Pua Khein Seng stated that MaiStorage has already commenced its initial public offering (IPO) plan, which aims to retain engineering talent and align staff interests with the company’s long-term growth.
According to BERNAMA News Agency, MaiStorage intends to make engineers and staff shareholders with the initial value of the company. As the company goes public and starts generating revenue, dividends can be distributed, allowing staff to benefit from the company’s growth and enhance their livelihoods. These remarks were made during Pua’s welcoming speech at the official launch of MaiStorage Technology, an event attended by Prime Minister Datuk Seri Anwar Ibrahim and several high-profile ministers.
MaiStorage is a provider of integrated circuit (IC) design and storage technology targeting the data center, artificial intelligence (AI) applications, and automotive industries in Malaysia. The company is supported by the extensive experience and expertise of its parent company, Phison group, and offers solutions like PASCARI enterprise solid-state drives (SSD) and aiDAPTIV+ AI innovations.
Since its inception in August last year, MaiStorage has hired and trained 50 young graduates as IC design engineers, with a commitment to train 175 more by 2026. Through collaboration with industry partners and the Malaysian government, MaiStorage aims to support the country’s transition from a technology user to a technology creator.
MaiStorage has established a diverse clientele including government bodies, educational institutions, software development firms, and research agencies. The company has reached a financial break-even point within a year of operation through its enterprise storage solutions and design services.
Pua revealed that the company’s investment of RM100 million has resulted in a net asset value exceeding that amount, with profits of around RM4 million generated so far. MaiStorage is focused on scaling operations, enhancing profitability, and developing local talent to achieve its goal of elevating Malaysia on the global semiconductor and tech stage.
In the next three years, MaiStorage plans to concentrate on NAND Flash Controller IC research and development in Malaysia, AI applications, Edge AI solutions for regional markets, and collaboration with the Ministry of Education to introduce AI Classrooms for schools.