ISF Group Berhad IPO Analysis

ISF Group Berhad

ISF Group Berhad, an investment holding company incorporated in Malaysia, operates through its wholly-owned subsidiary, Yeo Plumber SDN BHD (YPSB). The Group is principally involved in the supply and installation of piping systems for end-user premises, as well as water supply and sewer infrastructure piping. It also provides maintenance and repair services for these systems. The Group's history traces back to the incorporation of its subsidiary in 2000, initially focusing on trading plumbing materials before expanding into its current core activities.

Draft Prospectus (MITI)
Final Prospectus (Public)

Interim Shariah Status (Draft)

SC Shariah Status :

No status

Sharlife Shariah Status :

No status

Prospectus Date :

July 2025

Interim Shariah Status (Final)

Interim Shariah Status :

TBD

IPO Allocation Shares

Allocation	Shares	%
Malaysian Public
Bumiputera Shareholders Approved by MITI
Eligible Directors and Employees
Private Placement to Selected Investors and Others

Income Statement

	31/12/2022	31/12/2023	31/12/2024	% Growth
Revenue
Other Income
Interest Income
Profit After Tax
PAT Margin %

Balance Sheet

	31/12/2022	31/12/2023	31/12/2024	% Growth
Non-current Assets
Current Assets
Non Current Liabilities
Current Liabilities
Deferred Liabilities
Total Assets
Total Liabilities

Capital & Reserves

	31/12/2022	31/12/2023	31/12/2024	% Growth
Share Capital
Retained Earnings
Reserves
Working Capital
Shareholder Fund

Ratio

0 = Lowest | 5 = Highest

	31/12/2022	Score	31/12/2023	Score	31/12/2024	Score	% Growth
Current Ratio (Liquidity)
Debt Ratio (Leverage)
Gearing Ratio (Leverage)
Return on Capital Employed
Total Assets Turnover

Altman-Z

31/12/2022	31/12/2023	31/12/2024	Overall weighted score

P/E Comparison

Company P/E ratio

Peers	P/E

Summary Checklist

Checklist	Remarks
Business Activities and Revenue Streams
Competitive Strengths
Business Strategies and Plans
Revenue

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