United AsiaPac Energy Unveils IPO Prospectus Ahead of ACE Market Debut

 

United AsiaPac Energy Unveils IPO Prospectus Ahead of ACE Market Debut

KUALA LUMPUR, 28 July 2026 – United Asiapac Energy Berhad (“United Asiapac Energy” or the “Company”), an established player in Malaysia's upstream oil and gas industry specialising in well intervention solutions, today unveiled its Initial Public Offering (“IPO”) prospectus in conjunction with its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), scheduled for 19 August 2026.

With the Company’s growth potential in line with the positive outlook of the upstream oil and gas industry, supported by its competitive strengths, United Asiapac Energy targets to raise estimated gross proceeds of RM48.73 million via the issuance of 139,220,000 new ordinary shares (“IPO Shares”) at an IPO price of RM0.35 per IPO Share. Based on the Company’s enlarged share capital of 550,000,000 shares and the aforesaid IPO price, the market capitalisation of United Asiapac Energy will be approximately RM192.5 million upon its listing.

The proceeds to be raised from the IPO will enable the Company to fund its business expansion and support its next phase of growth. United Asiapac Energy has earmarked 47.74% of the proceeds to finance the purchase of well intervention tools and equipment; 11.29% for acquisition of a new corporate office; 10.83% for expansion of workforce; 5.83% for repayment of bank borrowings; and 4.93% for the recruitment of engineers to support the introduction of new well intervention solutions. The remaining proceeds will be utilised for working capital and IPO-related expenses.

Mr. Ahmad Fadzuli bin Ali, Managing Director of United Asiapac Energy said,

"Today marks an important milestone for United Asiapac Energy, and I am proud and excited to share this journey with our stakeholders as we prepare for our listing on the ACE Market of Bursa Securities. Over the years, we have established ourselves as a reliable Malaysia-based company offering a niche and comprehensive suite of specialised well intervention solutions, which includes fishing, plug and abandonment ("P&A"), sidetracking and other services to our clients. While we serve the same client base as several well-established international service providers, our strong local presence with owned tools and equipment differentiates us from other service providers. With strategically located operational bases in both Kemaman and Labuan, we are able to mobilise specialised equipment, tools and experienced personnel quickly and efficiently across both Peninsular and East Malaysia, without the cross-border logistics risks, shipping delays or import restrictions that foreign-based competitors may face when deploying resources from overseas. Together with our commitment to operational excellence, these strengths have enabled us to build long-standing relationships with both national and international oil and gas companies, which led to the successful completion of more than 200 projects since 2021".

"For the 9-month FPE 2026, we recorded our highest gross profit at RM21.9 million, and this nine- month figure alone already surpasses our full FYE 2025 gross profit of RM14.5 million by more than 50%, exceeding analyst expectations. The demand for our well intervention solutions remains resilient despite heightened geopolitical uncertainty globally, which underscores the defensive nature of our business. Our P&A services support the maintenance, integrity, and safe decommissioning of existing wells rather than new exploration or development activities. As a result, demand for our services is not directly correlated with oil price movements, as operators must continue maintaining well integrity and fulfilling regulatory abandonment obligations regardless of prevailing crude prices. This has enabled us to sustain our growth momentum even as the broader industry navigates a more volatile operating environment."

"We believe our post-IPO plans reflect our long-term commitment to continuously enhancing our capabilities, strengthening our competitive position and delivering greater value to our clients. Looking ahead, we remain optimistic about the outlook for the well intervention industry. As hydrocarbon wells continue to mature, operators are placing greater emphasis on preserving well integrity, extending production life and undertaking safe, efficient and environmentally responsible P&A activities. We are confident that United Asiapac Energy is well-positioned to capture these opportunities and create sustainable value for all our stakeholders."

Mr. Ahmad Fadzuli concluded.

Supporting upstream oil and gas operators across the entire lifecycle of a hydrocarbon well, United Asiapac Energy delivers specialised well intervention solutions for exploration and drilling, production, mature field operations, as well as P&A. The Company's main services include fishing, P&A and sidetracking, alongside other specialised well intervention solutions that help its clients maintain well integrity, optimise production and safely decommission wells.

The Company’s fishing services are carried out to recover or remove stuck, lost or failed downhole equipment and debris that may interrupt drilling or production operations, while its P&A services permanently seal wells that have reached the end of their productive life in accordance with applicable operational, safety and environmental requirements. Other than that, United Asiapac Energy also performs sidetracking works to enable operators to reach new production zones or bypass damaged sections of existing wells, maximising hydrocarbon recovery.

Mr. Wong Chan Han, Senior Vice President of Corporate Finance, TA Securities Holdings Berhad said, “We are proud to support United Asiapac Energy in this major milestone as it embarks on its ACE Market listing. This progression will elevate their visibility within the industry, creating opportunities for greater expansion and success. At TA Securities, we remain committed to ensuring a smooth and successful listing process, while continuing to stand alongside the Company in realising its long-term business strategies.”

In conjunction with the launch of the IPO prospectus, the application period of United Asiapac Energy will commence today and close on 5 August 2026 at 5.00 p.m. TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent of the IPO.

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