ELSA Berhad Bets on Robotics and Digital Solutions as Future Growth Drivers After IPO Launch

ELSA Berhad Bets on Robotics and Digital Solutions as Future Growth Drivers After IPO Launch

At the press conference following the launch of its IPO prospectus, Elsa Berhad’s management addressed questions surrounding the group’s relatively flat revenue outlook for its traditional oil and gas service solutions business between 2024 and 2025. While acknowledging the slower growth in its core oilfield services segment, the company expressed strong optimism about its expanding robotics, digital and talent solutions divisions.

Managing Director Daniel Ilham said the current numbers may appear “a little bit flat” because the company is actively moving up the value chain by pursuing higher-value projects within the oil and gas services industry. He explained that while one or two major oil services contracts could significantly lift future revenue figures, Elsa is now strategically positioning itself toward more technology-driven growth areas.

According to Daniel, robotics is expected to become one of the company’s key growth engines over the next few years. Although the robotics division is still relatively small, he noted that the business experienced a major breakthrough only last year, with revenue growing sharply from around RM2 million to approximately RM20 million. He added that Elsa has already secured several long-term contracts and is currently engaging with many new customers who have shown strong interest in its robotic solutions.

He also highlighted the company’s talent solutions segment as another strong contributor. Over the past few years, Elsa has built a reputation as a trusted partner among its clients by supplying highly skilled professional-level talent rather than general technicians or operators. This has enabled the segment to record healthy growth despite the business being relatively cash intensive.

However, Daniel made it clear that the group’s long-term ambition lies in digitalisation and robotics. He revealed his vision of seeing the digital and robotics divisions eventually contribute up to 50% of the group’s overall business in the near future.

“I have a very strong feeling that robotics and digital should be the future growth,” he said, expressing excitement about the company’s evolving direction beyond conventional oil and gas services.

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