MaiStorage Technology Targets Bursa Malaysia IPO by 2028, Focuses on IC Design, AI, and Talent Growth
MaiStorage Technology Sdn Bhd, a newly launched integrated circuit (IC) design and storage technology provider, is setting its sights on a Bursa Malaysia listing by 2028. The announcement was made by founder and CEO Datuk Pua Khein Seng during the company’s official launch event, which was officiated by Prime Minister Datuk Seri Anwar Ibrahim and attended by key government leaders.
“We plan to make engineers shareholders from the start so that when the company goes public and generates profits, they can benefit through dividends. It’s about improving lives and aligning talent with long-term growth,” said Pua.
Company Background: A Tech Creator, Not Just a User
Launched in August 2023, MaiStorage is focused on elevating Malaysia’s role in the global tech landscape—from a consumer of technology to a creator of innovation.
Core Business Areas:
-
NAND Flash Controller IC Design
-
Enterprise Solid-State Drive (SSD) Solutions – including the PASCARI series
-
AI and Large Language Model (LLM) Development – via its aiDAPTIV+ platform
-
Edge AI Solutions for regional and global markets
With the backing of Phison Group, a globally respected name in NAND controller and storage innovation, MaiStorage leverages over 20 years of expertise to position itself at the cutting edge of storage and AI solutions.
IPO Strategy: Tech Empowerment from Within
Pua emphasized that the IPO goal isn’t just about capital—it’s a talent retention and empowerment strategy.
-
Engineers and employees will be given early equity participation
-
IPO proceeds will support R&D, expansion, and long-term sustainability
-
Shareholder alignment will foster ownership culture and innovation
“Our mission includes not just building IP and tech but building lives—this is how we keep our best talent,” Pua added.
Early Success: Profitability in Under a Year
Despite its recent founding, MaiStorage has already achieved break-even and posted RM4 million in profits, surpassing expectations.
| Milestone | Performance |
|---|---|
| Launch Date | August 2023 |
| Initial Investment | RM100 million |
| Net Asset Value | Exceeds RM100 million |
| Profits (as of 2024) | RM4 million |
| Employees | 50 trained engineers (goal: 175 by 2026) |
Strategic Partnerships and Clients
MaiStorage already counts federal and state governments, educational institutions, software companies, and national R&D agencies among its early client base.
The company is also collaborating with the Ministry of Education on its AI Classrooms for Schools initiative, helping to bridge Malaysia’s tech talent pipeline from classroom to career.
R&D Focus and Regional Expansion Plans (2024–2026)
MaiStorage’s R&D and market strategy will focus on three pillars:
-
Next-Gen NAND Flash Controller Development – to reduce reliance on imports and create local IP
-
AI and LLM Applications – leveraging aiDAPTIV+ for sectors like education, automotive, and public services
-
Edge AI Solutions – targeting Southeast Asia’s growing smart device and industrial automation markets
Industry and Government Endorsement
The launch event drew top-level participation, including:
-
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz
-
Transport Minister Anthony Loke Siew Fook
-
Human Resources Minister Steven Sim Chee Keong
Their presence signaled strong government support for Malaysia’s ambitions to be a regional leader in semiconductors and AI, aligning with national blueprints such as:
-
New Industrial Master Plan 2030 (NIMP 2030)
-
National Semiconductor Strategy (NSS)
-
National AI Framework
Final Thoughts: A Malaysian Tech Pioneer in the Making
MaiStorage is not just another IC design firm—it’s a symbol of Malaysia’s ambition to reclaim its role as a high-tech manufacturing and innovation hub.
With early profitability, a clear IPO roadmap, and a mission to empower local engineers, MaiStorage is well-positioned to be a transformative force in:
-
Homegrown semiconductor R&D
-
AI development
-
Tech-driven national growth
As the company accelerates its IPO preparations for 2028, stakeholders and investors will be watching closely—because MaiStorage represents not just a tech company, but a new chapter in Malaysia’s digital economy story.
