Tech innovator Datuk Pua Khein Seng said today that his local startup, MaiStorage Technology Sdn Bhd, is slated for an initial public offering (IPO) by 2028, as part of efforts to retain trained Malaysian talent and reverse the country’s brain drain.

Pua, widely credited with inventing the first single-chip USB flash drive, said the IPO’s top priority is to offer shareholding opportunities to employees and other stakeholders.

“If I can train these engineers, are they going to stay in their homeland?

“Unfortunately, most engineers when they mature, they leave. So how do we retain them? The only way is by IPO,” he said in his speech during the official launch of MaiStorage at Le Meridien Putrajaya here.

Since beginning operations in August last year, Pua said MaiStorage has made significant progress in establishing its base in malaysia .to date, the company has hired and trained 60 young integrated circuit (IC) design engineers, and achieved break-even profitability in under a year of operations.