Inspace Creation Berhad (“Inspace Creation” or the “Group”), a well-established provider of comprehensive interior fitting-out services, has officially signed an underwriting agreement with TA Securities Holdings Berhad (“TA Securities”) to underwrite a total of 26.97 million new shares in preparation for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).
With over eight years of operational track record in the interior fitting-out industry, Inspace Creation has established itself as a trusted provider of comprehensive solutions for commercial office properties. The Group’s expertise spans the entire project lifecycle, including project planning and management, design conceptualisation and build, as well as post-completion maintenance.
Through its subsidiary IDPM Sdn Bhd, the Group holds a Grade 7 registration with the Construction Industry Development Board (“CIDB”), allowing it to undertake projects of unlimited contract value throughout Malaysia.
Inspace Creation has successfully delivered more than 100 projects to date, totalling approximately RM150.0 million in contract value. Its portfolio includes notable fit-outs at the Tun Razak Exchange (“TRX”), Bukit Bintang, and various prominent commercial hubs across Selangor and Kuala Lumpur.
Inspace Creation’s IPO will involve the issuance of 68.50 million new ordinary shares, representing approximately 18.55% of the enlarged issued share capital of 369.30 million ordinary shares.
This will be accompanied by an offer for sale of 29.30 million existing shares, representing approximately 7.93% of the enlarged issued share capital. The allocation of IPO shares is structured as follows:
Public issue
- Malaysian public:
- 18.47 million shares or 5.00% of the enlarged issued share capital will be made available for application by the Malaysian public.
- Eligible persons:
- 8.50 million shares or 2.30% of the enlarged issued share capital, will be allocated to eligible directors, employees, and other persons who have contributed to the success of the Group.
- Private placement to selected investors:
- 41.53million shares or 11.25% of the enlarged issued share capital are reserved for private placement to selected investors.
Offer for sale
- Offer for sale of 29.30 million existing shares or 7.93% of the enlarged issued share capital by way of private placement to selected investors.
Mr. Wong Chong Siong, Executive Director of Inspace Creation Berhad, remarked,
“The signing of this underwriting agreement represents another important milestone in Inspace Creation’s journey towards becoming a listed company. Our IPO will provide the necessary financial resources to strengthen our position and enable us to undertake more projects or projects of higher value.
This strategic move supports our expansion into new commercial segments and regional markets beyond the Klang Valley.”
As at 28 July 2025, Inspace Creation maintains an outstanding unbilled order book of RM21.22 million from its provision of the interior fitting-out services. The positive outlook for the interior fitting-out industry in Malaysia further supports the Group’s growth trajectory, with the value of work done for building completion and finishing works forecast to rise from RM2.0 billion in 2024 to RM2.7 billion in 2027, representing a CAGR of 10.5%.
This growth is supported by sustained demand for corporate workspace efficiency, the expansion of commercial property transactions, and continued foreign and domestic investment in Malaysia’s services sector.
TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for the IPO.
