Info-Tech Systems Ltd. (“Info-Tech” or “the Group”), a leading provider of cloud-based Human Resource Management System (HRMS) and accounting software across Southeast Asia, marked a significant milestone with its successful debut on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX-ST”) on Friday, 4 July 2025.
With a strong foothold in Malaysia since 2019, the listing is set to further strengthen Info-Tech’s commitment to supporting the digitalisation of Malaysian SMEs with user-friendly, compliant and cost-effective HR and finance solutions.
Info-Tech’s IPO saw overwhelming interest from both institutional and retail investors. with demand for its 24.86 million shares reaching approximately 7.3 times the total shares offered.
The Group also secured commitments from nine cornerstone investors, including prominent names such as Maybank Asset Management Singapore, Lion Global Investors, and Nikko Asset Management, underscoring market confidence in Info-Tech’s regional expansion strategy.
“The IPO proceeds will be used to deepen Info-Tech Systems’ market penetration, strengthen brand visibility, and support the expansion of its solution offerings and regional operations,” according to Co-Founder and Chief Executive Officer Babu Dilip.
The group recorded total revenue of $30.8 million, $38.1 million, and $43.7 million for the financial years ended Dec 31, 2022, 2023, and 2024, respectively.
In the Malaysian context, subscription revenue from HRMS and Info-Tech Accounting Software recorded a CAGR of 28.9%, outperforming the estimated 10.9% CAGR of the SME-focused cloud-based HR and accounting software market in the country over the same period, according to Converging Knowledge.
The listing is expected to further strengthen Info-Tech’s commitment to the Malaysian market. With thousands of SMEs already using its solutions, the Group plans to enhance its product suite to keep pace with evolving statutory requirements such as LHDN e-Invoicing, EPF, SOCSO, and EIS.
Customer support capabilities will also be expanded across Kuala Lumpur, Penang, and Johor, ensuring availability aligned with local business hours and compliance calendars. In parallel, Info-Tech remains focused on creating high-quality tech jobs by hiring and upskilling local talent.
The company also aims to deepen its collaboration with ecosystem partners—including government agencies, financial institutions, and regulatory bodies—to drive nationwide SME digitalisation.
Peter Lee, Co-Founder and Chairman of Info-Tech Systems Ltd., expressed gratitude to the company’s growing Malaysian customer base, noting that the IPO marks a pivotal step forward in the Group’s regional journey. “We are incredibly thankful for the trust our Malaysian clients have placed in us,” he said. “This IPO represents more than just a financial milestone—it enables us to further invest in delivering localised, automated, and intuitive software solutions that meet the evolving needs of SMEs across Malaysia.”
Founded in 2007 and headquartered in Singapore, Info-Tech is a cloud-native software company that offers an integrated suite of HRMS and accounting modules designed for businesses of all sizes. The Group operates in Singapore, Malaysia, Hong Kong and India, serving more than 23,000 HRMS clients and over 1,000 accounting software customers, with approximately 850,000 active users.
Its solutions cover 10 modules across a wide range of business needs including HR Software, Time Attendance, Payroll, Leave Management, Claims Management, E-Scheduling Software, Performance Appraisal, Project Costing, Learning Management System, and Applicant Tracking System. Info-Tech was recently recognised in the HR Vendors of the Year 2024 awards earning awards in all 5 categories participated, including 1 Gold.
