Evocom Bhd plans to use its upcoming ACE Market listing as a springboard to move beyond its flexible staffing roots, adding fulfilment, air freight transhipment, hub management and technology-driven logistics to build a broader e-commerce support platform.
Chief Executive Officer Ian Tan told BusinessToday that the company’s RM20.5 million IPO is intended not merely to strengthen its balance sheet, but to create a more diversified, scalable and trusted business over the next 12 to 24 months.
Evocom’s IPO involves the issuance of 113.91 million new shares at 18 sen each, valuing the company at an estimated RM82.01 million market capitalisation based on an enlarged share capital of 455.63 million shares upon listing.
The company is scheduled to list on the ACE Market of Bursa Malaysia on Sept 28, 2026.
Tan said Evocom will continue strengthening its core flexible staffing operations while increasing its participation across the e-commerce logistics value chain through network support services, transhipment, hub management and fulfilment.
“The broader objective is not simply to grow the size of the business, but to build a more diversified, trusted and scalable Evocom,” he said.
Beyond Manpower Supply
However, he emphasised that flexible staffing will remain an important pillar of Evocom’s business, with RM7.2 million, or 35.12% of the IPO proceeds, earmarked for working capital.
Tan said the allocation will support recruitment, onboarding, documentation, training and other personnel-related costs required to maintain workforce readiness.
Evocom currently manages a database of about 12,000 candidates and has around 2,700 active placements, with personnel deployable within roughly 10 days.
Tan said the company does not view the business as simple manpower supply, arguing that the ability to mobilise trained and managed workers directly affects service continuity and delivery capacity in high-volume e-commerce operations.
Reducing Reliance On SPX
He highlighted that the strategy also seeks to reduce Evocom’s reliance on a narrow customer base.
“While SPX Express remains an important anchor customer and has worked with Evocom since 2019, giving the company a recurring revenue base and experience in supporting large-scale e-commerce logistics operations.
“Evocom is also building other customer relationships and service lines, with activities now spanning transhipment, last-mile delivery, parcel shipment and hub management,” he said, while sharing that Evocom began hub management operations in March 2026 and currently operates two hubs for an established e-commerce organisation.
The transhipment business also handles China-related cross-border flows to destinations including Australia and the Middle East.
“Our objective is not to move away from SPX. Rather, we want to maintain a strong relationship with an established anchor customer while progressively developing other businesses and customer relationships around it,” Tan said.
Air Freight Push
Tan shared that a further RM3 million from the IPO will go towards the company’s air freight transhipment business, supporting air freight charges, security deposits, ground handling, documentation and other cargo-related costs.
Tan said the segment would allow the company to move further along the logistics value chain, from staffing and hub support into cross-border cargo movement and network support services.
Tan said the company is not setting a fixed shipment or revenue target for the segment at this stage, preferring to build capacity and customer relationships steadily.
Nilai To Anchor Operations
Meanwhile, Tan shared that as Nilai will be anchoring its next operation growth, hence, the company is allocating RM1.5 million towards a proposed headquarters in Nilai, Negeri Sembilan, which will bring together office, warehousing and operational functions.
“Nilai was selected partly for its proximity to the KLIA air cargo terminal, around 15km away, giving us stronger access to air cargo infrastructure, outbound flights and downstream last-mile networks,” he said, while emphasising that the facility is expected to support hub management, fulfilment and transhipment activities, with Evocom working towards operationalising fulfilment operations from Oct 1, 2026, subject to readiness and internal processes.
Furthermore, Tan said the Nilai facility act as more than a headquarters, as it would serve as an operational platform for the company’s logistics activities.
Technology To Drive Scale
On the other hand, Tan highlighted that technology will be another central part of Evocom’s post-listing strategy.
The company is investing RM3 million in its EVOSHIFT and CLiPs platforms, which are intended to improve workforce allocation, route optimisation, operational visibility, onboarding, training and compliance.
Tan said Evocom already uses a mix of in-house and third-party artificial intelligence (AI) applications to improve productivity, with the proprietary platforms expected to provide a more scalable operating backbone.
He stressed that AI is being deployed as a productivity tool rather than simply as a way to reduce headcount.
For Evocom, Tan said, “technology is a people enabler”, helping the company improve coordination, reduce administrative work and manage increasingly complex operations.
Plans Beyond Post-Listing
Over the next three to five years, Tan said Evocom’s focus will remain on disciplined organic growth in Malaysia, supported by recurring demand from its core e-commerce operations.
The company will continue developing adjacent services including fulfilment, hub management, last-mile delivery and cross-border support.
“At this stage, we do not have specific plans for acquisitions, overseas market entry or a transfer to the Main Market,” Tan said.
Instead, he revealed that the near-term priority is to strengthen core operations, diversify services and build a more resilient and scalable business.
“Our focus will remain on Malaysia, while continuing to build cross-border capabilities in a measured manner,” he added.
