Motorola Solutions reported on 4 November that its order backlog reached a record US$16.6 billion at the end of the third quarter, up 14% from a year earlier, as sales rose 12% to US$3.4 billion. The Chicago radio maker raised its full-year revenue guidance to about US$13.05 billion.
Those numbers travel further than Illinois. Emits Bhd, a Bayan Lepas antenna maker, has supplied the Motorola group since 2016. The group accounted for 72.9% of Emits revenue in the year to 31 December 2025 and 78.1% in the first six months of 2026, figures drawn from its prospectus and set out in an i3investor analysis of the listing.
Emits is taking that dependence to market. Its initial public offering at 16 sen a share closes on 19 November and should raise RM15 million for the company and RM6 million for five selling shareholders, including managing director Loy Boon Liang, The Edge Malaysia wrote, citing the prospectus. Listing on the ACE Market is set for 1 December, with Mercury Securities as adviser and underwriter.
At the offer price the company is worth about RM75 million, roughly 14 times trailing earnings, after a net profit of RM5.2 million on revenue of RM39.65 million last year. Proceeds cover RM6.8 million of working capital, including RM6 million for new projects such as 5G base station antennas, RM4 million of research machinery and RM4.2 million of listing expenses, a breakdown The Star carried from the company’s statement.
Two limits apply. Most of Motorola’s backlog is software and services, which use no antennas, and the prospectus does not say which radio programmes Emits supplies. Emits also keeps no order book, as customers order weekly or monthly, so a stronger Motorola pipeline reaches its accounts only as purchase orders arrive.
The record shows the link working both ways. Revenue rose from RM32.0 million in the 2023 financial year to RM41.0 million in 2024 before easing 3.3% to RM39.6 million in 2025, which the prospectus attributes mainly to lower purchases by the Motorola group. In the six months to 30 June 2026 revenue fell about 10% to RM18.2 million while profit after tax held at RM2.1 million, as dollar sales stayed flat at about US$4.55 million while a stronger ringgit cut the translated figure.
Capacity is not the constraint. Land mobile radio antennas, fitted to handhelds used by police and rescue services, made up 91.6% of 2025 revenue, the United States took 62.4% and the radio lines ran at about 50% utilisation against a plant rated at up to 500,000 antennas a month.
A second engine is already built. Emits spent about RM5.5 million in 2025 on four production lines for 5G base station antennas, delivered 40 sample sets to US network equipment maker Communication Components in the first quarter of 2026 and won conditional approval for one model in May. That customer has since asked for an upgraded design, with six to nine months needed for the specification and up to six months of qualification after.
