The living sectors that TAP serves include residential co-living, hotels & serviced apartments, students’ accommodation, foreign healthcare professionals’ accommodation and inter-generational living.
TAP’s business comprises three key segments: community-driven stays, other property-related services and investments.
TAP reported a revenue of $6.87 million in FY2022, $14.33 million in FY2023, and $18.94 million in FY2024. Its earnings for FY2022 came in at $445,000, $7.1 million for FY2024, $512,000 for 1HFY2024 and $1.47 million for 1HFY2025.
As at Dec 31, the group’s non-current assets amounted to $44.74 million, representing 79.3% of the total assets.
See also: Bursa Malaysia's CEO says focus is on larger IPOs this year
TAP’s community-driven stays segment accounts for approximately 95.1%, 97.7%, 93.6% and 94.8% of its total revenue for FY2022, FY2023, FY2024 and 1H2025 respectively.
TAP intends to use net proceeds raised from its listing to fund the expansion of its portfolio through onboarding of property assets via direct lease agreements with property owners; joint ventures and strategic alliances to pool operational expertise and/or expand into new community living sectors or M&As, and overseas expansion into regional markets.
Cornerstone investors of the company include Apricot Capital, Asdew Acquisitions, Cache Capital, ICH Synergrowth Fund, Maybank Securities (on behalf of certain high net worth clients), Cheah Chi Kong, Johnathan and Deepak Lakhi Ramchandani.
SAC Capital is the sponsor, issue manager, underwriter and placement agent for TAP’s IPO.
