Kuala lumpur: Integrated refurbished technology leader CompAsia Sdn Bhd is set to launch its Main Market initial public offering (IPO) on Bursa Malaysia in the first half of 2027 (1H 2027), aiming to raise around RM400 million to RM500 million, with a valuation of about RM2 billion. Founder and chief executive officer Julius Lim said the company is in the process of appointing its banker for the exercise and expects to finalise the appointment within the next one to two months.
According to BERNAMA News Agency, Lim mentioned that the company is also conducting a pre-IPO fundraising round over the next one to two months, targeting high-net-worth individuals who may invest ahead of the listing at a discount to the IPO price. The IPO proceeds are expected to be mainly utilised for working capital, developing its device ownership plan, ReNewNGo, and strengthening its omnichannel presence to ensure a seamless experience between online and physical retail in Malaysia.
Last year, CompAsia had only five to six stores operating in Malaysia, but it has since expanded to around 70 stores across the country, including in Sabah and Sarawak. The company plans to double the number of stores to 150 by the end of 2026 and continue growing. CompAsia registered a pre-tax profit of RM20 million in 2025, up from RM12 million in 2024, and aims to more than triple it to RM70 million in 2026. The company recorded about RM180 million in revenue last year from its Malaysia operations and is targeting around RM400 million this year, mainly driven by its ReNewNGo business.
Founded by Lim in 2012, CompAsia is currently a leading refurbished technology player in Malaysia, specialising in sourcing, refurbishing, and reselling pre-owned smartphones and other electronic gadgets. It also runs trade-in programmes that include industrial-grade data wiping for most telecommunications companies (telcos) and original equipment manufacturers (OEMs) in Malaysia. Besides its local retail presence, CompAsia has expanded into Singapore, Thailand, and the Philippines and is currently scouting for additional locations in the Philippines and Singapore.
Comparing the 10 million new smartphones sold annually in Malaysia, Lim said CompAsia facilitated more than 100,000 trade-ins in 2025, mainly smartphones, along with other devices such as tablets, laptops, and smartwatches, with numbers growing gradually year-on-year. Consumer behaviour shows that around 20 to 30 per cent of consumers now trade in their gadgets when purchasing new smartphones. Malays account for about 55 to 65 per cent of CompAsia's customers, reflecting Malaysia's demographic composition.
As of the third quarter of 2025 (3Q 2025), CompAsia had surpassed three million device transactions, underscoring the growing scale of the recommerce economy across Southeast Asia. Based on the three million gadgets transacted, Lim said the company has prevented about 450 to 600 tonnes of electronic waste from entering landfills and helped avoid up to 240,000 tonnes of carbon dioxide (CO2) emissions. By extending device life, they have reduced the need for mining precious metals, including an estimated 100 kg of gold and 1,000 kg of silver.
Citing a recent Mordor Intelligence industry report, Lim said the global used and refurbished smartphone market is projected to reach over US$96.9 billion by 2031, with Asia Pacific being the largest and fastest-growing market. Amid rising inflation and a global push for environmental, social, and governance (ESG) compliance, CompAsia is positioned to become the Southeast Asian champion of second-life technology. CompAsia envisions making 'second life' a way of life in Malaysia, similar to how the used-car market has become mainstream and trusted.