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A steel shaft being turned on a CNC lathe, the kind of precision part Oxford Innotech makes in Penang
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Research note

OXB Share Price at 48 Sen: Oxford Innotech Order Book, Net Profit, Prospects, Peers

RaymondRates.my5 min read

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Oxford Innotech Bhd (OXB, 0368) makes precision metal and plastic parts, assemblies and automation systems in Penang. It listed on the ACE Market on 29 July 2025 at 29 sen and closed at 48 sen on 5 October 2026. This note sets out the order book, net profit, prospects, expansion plans and peer multiples from the Bursa filings.

Disclosure: the author holds OXB shares at the time of writing. No recommendation is made.

48 sen
close, 5 Oct 2026
market cap RM341m, 710m shares
RM9.7m
net profit, last four quarters
EPS 1.36 sen; 1H FY2026 RM7.4m
35x
trailing P/E
P/B 2.6x on NTA 18.5 sen, yield 1.0%

OXB share price

PointDatePricevs IPO
IPO price29 Jul 202529.0 sen0%
First-day close29 Jul 202538.5 sen+33%
Lowest close10 Mar 202622.0 sen-24%
Highest close20 Aug 202650.0 sen+72%
Last close5 Oct 202648.0 sen+66%
Intraday, not a close6 Oct 2026, morningabove 50 senn/a
Oxford Innotech OXB · 0368 · ACE Market · daily · RM0.480 ▲ 35% since 30 Jun; 66% above the 29 sen IPO priceO 0.475 H 0.490 L 0.475 C 0.4805 Oct 2026 · Vol 1.9m0.3500.4000.4500.55031 Jul: RM8.8m chip ordersfiled after the close20 Aug: 50 sen close, results next day2 to 4 Sep: directors sell 6.2m off-market at 46.5 sen18 Sep: 40.5 senthen directors buy on market1 Oct: 8.1m shares0.480Volume, million shares10m20m1 Jul15 Jul31 Jul14 Aug28 Aug11 Sep25 Sep5 OctYahoo Finance daily OHLCV, completed sessions
OXB daily candles with volume, 1 July to 5 October 2026. Completed sessions only.
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OXB live price, from the July 2025 listing.

Catalysts

What was filed, in date order. Green = orders and results that rose, red = results that fell.21 JanFirst data centre award, RM4.8m: steel and precision parts for airflow systems, end-user a global cloud platform.Bursa filing5 FebSecond award from the same customer, RM4.8m. Data centre contracts RM9.6m, delivery by end-2026.Bursa filing25 FebFY2025 results: revenue RM63.2m (-32%), net profit RM7.1m (-55%). Key customer SIBS fell to 15% of sales.Bursa filing22 MayQ1 FY2026: revenue RM17.8m, net profit RM3.3m, more than triple Q4. Backlog RM30m from RM21m.Bursa filing31 JulRM8.8m of orders for mass flow controller parts from a US chip-equipment maker, over 12 months.Bursa filing21 AugQ2 FY2026: revenue RM24.5m (+44% on a year ago), net profit RM4.2m (+162%). No dividend.Bursa filingPercentages are against the same quarter or year a year earlier, from the Bursa summary tables.
The six filings of 2026 that preceded the moves in the chart.

Order book

AnnouncedCustomerProductValueDelivery
21 Jan 2026Australian data centre airflow specialist, Singapore office; end-user a global cloud platformSteel infrastructure and metal precision componentsRM4.8mFeb to end-2026
5 Feb 2026Same customerSameRM4.8mBy end-2026
Jun 2026US mass flow controller maker, Malaysian plantPrecision components for MFCs, two purchase ordersRM3.2m12 months
30 Jul 2026Same customerSame, one purchase orderRM5.6m12 months
Total announced in 2026Two customersData centre RM9.6m, semiconductor RM8.8mRM18.4mTo 2H 2027
  • Order backlog: RM21.0m at 31 Dec 2025, RM30.0m at 31 Mar 2026, the last figure reported in the press. The Q2 summary table on Bursa carries no backlog figure.
  • RM30.0m of backlog is 1.2 times Q2 FY2026 revenue of RM24.5m.
  • Management, 31 Jul 2026: order visibility through the first half of 2027.

Net profit

YearRevenueGross marginNet profitNet marginChange in net profit
FY2023RM49.5m35.0%RM8.1m16.3%n/a
FY2024RM92.9m33.6%RM15.6m16.8%+94%
FY2025RM63.2m32.3%RM7.1m11.2%-55%
Last four quarters to Jun 2026RM69.0m33.3%RM9.7m14.0%n/a
QuarterRevenueNet profitNet marginEPSRevenue YoYNet profit YoY
Q1 FY2025RM19.5mRM3.2m16%0.57 senn/an/a
Q2 FY2025RM17.1mRM1.6m9%0.28 senn/an/a
Q3 FY2025RM13.9mRM1.2m9%0.18 senn/an/a
Q4 FY2025RM12.7mRM1.0m8%0.14 senn/an/a
Q1 FY2026RM17.8mRM3.3m19%0.46 sen-9%+3%
Q2 FY2026RM24.5mRM4.2m17%0.59 sen+44%+162%
1H FY2026RM42.4mRM7.4m17%1.04 sen+16%+54%
Revenue and net profit by quarter, RM millionBursa quarterly reports. FY2025 revenue RM63.2m fell 32% on FY2024; the first half of FY2026 is RM42.4m.051015202519.53.2Q1 FY25margin 16%17.11.6Q2 FY25margin 9%13.91.2Q3 FY25margin 9%12.71.0Q4 FY25margin 8%17.83.3Q1 FY26margin 19%24.54.2Q2 FY26margin 17%RevenueNet profit attributable to ownersQuarters end 31 Mar, 30 Jun, 30 Sep, 31 Dec
Six quarters from the Bursa reports.
  • FY2024 was the peak year for modular-building customer SIBS AB, 42% of revenue. SIBS fell to 15% in FY2025 on delays at NEOM, Saudi Arabia.
  • Q1 FY2026 EPS of 0.46 sen is on the post-IPO share base of 710m; Q1 FY2025 EPS of 0.57 sen is on the pre-IPO base.
  • Dividend: 0.5 sen final for FY2025, paid 22 May 2026. None declared with Q1 or Q2 FY2026.

Prospects

  • Data centre. Management expects about 25% of FY2026 revenue from the segment (The Edge, July). The two awards complete by end-2026. No follow-on award has been filed.
  • Semiconductor. More than 700 first-article approvals converted to mass production by Q3 2025 (The Edge). The RM8.8m of mass flow controller orders run over 12 months from July 2026.
  • Modular building. SIBS was 15% of FY2025 revenue. No update on NEOM volumes has been filed in 2026.
  • Mix. Q1 FY2026 revenue was 72% Malaysia and 28% export to Asia, North America and Europe.
  • Next data point. Q3 FY2026 results are due by 30 November, the first quarter to include the RM5.6m July order.

Expansion plans

Use of IPO proceedsRM millionShare
Construction of Factory 2, Penang Science Park23.155.5%
Machinery purchase and refinancing11.226.9%
Working capital3.38.0%
Listing expenses4.09.6%
Total raised41.6100%
  • Factory 2 Phase 1. Trial runs from September 2025; total floor space 125,174 sq ft, from 39,392 sq ft before.
  • Factory 2 Phase 2. Adds 50.2% to about 202,700 sq ft. Construction from the second half of 2026, completion guided for the second half of 2027.
An aisle between rows of equipment cabinets in a data hall
The data centre orders cover the steel and precision parts in airflow management systems. · Photo: İsmail Enes Ayhan / Unsplash

Shareholders and director dealings

HolderRoleSharesStakeBasis
Ng Thean GinManaging director201.6m28.40%Direct, after 14 Sep 2026
Lee Lai ChanExecutive director, spouse of Ng104.2m14.68%Direct; deemed by Ng
Oh Yen SanExecutive director59.4m8.36%Direct, after 14 Sep 2026
Teh Teng WahNon-executive director since 13 Aug42.7m6.02%Direct, after 30 Jul 2026
Four directors407.9m57.5%Of 710m shares
Director dealings since July. Red = sales, green = purchases, amber = board and holdings.30 JulTeh Teng Wah (then ED) sells 21.57m shares off-market at 36.1 sen, 3.04% of the company.Bursa filing30 JulBuyers include MD Ng Thean Gin 10.5m and ED Oh Yen San 6.0m at 36 sen; INED Khoo 1.0m at 38.5 sen.Bursa filing13 AugTeh redesignated from executive director to non-independent non-executive director.Bursa filing2 to 4 SepNg sells 3.67m and Oh 2.55m shares off-market at 46.5 sen: 6.2m shares, 0.88% of the company.Bursa filing10 to 14 SepNg buys 398,900 and Oh 450,000 shares on market at 42 to 43.5 sen.Bursa filingsAfter 14 SepNg holds 43.1% (28.4% direct, 14.7% deemed with spouse Lee Lai Chan). Oh holds 8.4%.Bursa filingsOff-market trades are reported at the filed price; the counterparties are not named in the filings.
Every director trade filed since July 2026.

Valuation and peer comparison

CompanyCodePriceMarket capTrailing P/EP/BYieldLatest quarter net profit
Oxford Innotech0368RM0.48RM341m35x2.6x1.0%RM4.2m
Northeast Group0325RM1.16RM858m24x3.0x0%RM9.9m
Coraza Integrated Technology0240RM1.32RM655m36x4.1x0%RM5.4m
SFP Tech0251RM0.285RM687m126x3.2x0%RM7.4m
Pentamaster7160RM5.48RM3,904m53x4.8x0%RM19.0m
UWC5292RM7.90RM8,720m93x15.2x0%RM37.6m
  • Peers are Bursa precision engineering and automation suppliers to the semiconductor industry. Multiples are KLSE Screener trailing figures on the morning of 6 October 2026; the OXB row uses the 5 October close.
  • OXB is the smallest by market value and the only one paying a dividend. Its trailing P/E sits between Northeast and Coraza.

Dates

  • By 30 November 2026Q3 FY2026 results. First quarter with the RM5.6m July order in the book.
  • End of 2026Completion of the two data centre contracts, RM9.6m.
  • February 2027FY2026 results and dividend decision. FY2025 paid 0.5 sen.
  • Second half of 2027Guided completion of Factory 2 Phase 2.
Not financial advice. The author holds Oxford Innotech shares at the time of writing. Prices are Yahoo Finance closes to 5 October 2026, checked against KLSE Screener; the 6 October figure is intraday. Company figures are from the Bursa filings linked below; peer multiples from KLSE Screener. Rates.my holds no CMSA licence and gives no target price, forecast or recommendation.

Related: the AI stocks list, the live Bursa heat list, the IPO tracker, and the Bursa contractors building the data centre grid.

Sources

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