Revenue Group posts premium in Bursa debut

PETALING JAYA: Cashless payment solutions provider Revenue Group Bhd ended its first day trading on the Ace Market of Bursa Malaysia today with a premium of 25.5 sen, over its offer price of 37 sen per share.

The shares opened at 55 sen and closed at 62.5 sen.

The counter, which reached a high of 69 sen and a low of 49.5 sen, was the most actively traded for the day, recording total volume of 188.3 million shares.

In a statement today, the group said it will leverage on the growing electronic payment (e-payment) transactions segment under the government’s push for a cashless society by 2020.

Its three business segments include the distribution, deployment, and maintenance of electronic data capture (EDC) terminals, electronic transaction processing services for credit and debit cards as well as solutions and services related to payment infrastructure.

Through its revPAY platform, it offers a single platform which facilitates the acceptance of payment transactions across various payment channels.

Its managing director and group CEO Eddie Ng Chee Siong said by 2020, there will be 800,000 EDC terminals in Malaysia, processing one billion transactions.

Ng said that this augurs well for the group as the deployment of more EDC terminals shall translate to higher revenue for the group, from the rental or sale of terminals as well as electronic transaction processing services.

Additionally, Ng said the group targets to expand its IT team to 50 employees from 35 currently within 24 months after listing to enhance the technology of its revPAY platform to keep up with global standards and cater to higher volume electronic transactions.

“The expansion of the IT team, which is core to our business, will help to support our business expansion and to pursue research and development on new products,” he added.

Currently, the group is working on QR Code payment for UnionPay in Malaysia and also researching on e-wallet solutions for issuers.

On its overseas expansion plan, the group said it has identified Cambodia and Myanmar, citing the e-payments system in these countries were still at the infancy stage and it could provide its e-payment solutions.

Revenue’s initial public offering (IPO) exercise was to raise RM20.61 million proceeds, of which RM8.1 million (39.3%) will be used mainly for capital expenditure to purchase approximately 9,000 units of new digital EDC terminals with the capability to accept QR Payment.

It will further utilise RM4.04 million (19.6%) to upgrade and enhance revPAY platform and recruit additional IT personnel; RM2.5 million (12.1%) to repay bank borrowings; RM1.5 million (7.3%) for business expansion to Cambodia and Myanmar; RM1.77 million (8.6%) for general working capital requirements while the remaining RM2.7 million (13.1%) to be used for listing expenses.

Seers makes debut on LEAP with a premium

KUALA LUMPUR: Seers Bhd made its debut on the Bursa Malaysia Leading Entrepreneur Accelerator Platform (LEAP) Market today at 8.5 sen, a half sen premium over the initial offer price.

At the opening bell, 100,000 shares were traded.
Seers, a water heating solutions specialist and the eighth company to be listed on the LEAP market, is expected to raise RM5.15 million through this listing.

Co-founder and managing director Ken Foo Kwok Hsing said with the capital raised, the company is focused on expanding in the Asia Pacific region and its retail market.

“Seers plans to use RM1.3 million raised from the initial public offering as capital expenditure and RM2.95 million as general working capital,” he told a press conference after the company’s listing.

The company is also aiming to increase exports to Indonesia, Thailand and Cambodia from 5% currently to 30% in a year’s time.

“We have a strong base in Malaysia, with 90% of our market share being local. We also hope to gain an increase of 30% increase in total revenue,” Foo said.

As for the retail business, he said the company was positive over gaining market traction as its water heaters were energy saving and cheaper than the conventional ones.

At the close of trading, Seers shares were two sen higher at 10 sen, with 2.15 million shares changing hands. – Bernama

CIMB clinches 12 prestigious awards at The Asset Triple A Islamic Finance Awards 2018

KUALA LUMPUR: CIMB Group (CIMB) garnered 12 notable awards at The Asset Triple A Islamic Finance Awards 2018 including ‘Sukuk Adviser of the Year in Asia Pacific’ for the seventh year in a row and Best Islamic Investment Bank in Asia Pacific for the ninth time in the last 10 years. The group also won […]

Revenue Group’s IPO shares oversubscribed by over 11 times

KUALA LUMPUR, June 10 — Cashless payment solutions provider Revenue Group Bhd’s initial public offering (IPO) has attracted a public oversubscription rate of 11.22 times. In a statement on its behalf, M&A…

Radiant Group targets continued expansion into South East Asia

KUCHING: Retail technology solutions provider Radiant Globaltech Bhd (Radiant) targets to continue expansion in SEA region with near term focus on the Indonesian market. Speaking at the IPO prospectus launch yesterday, Radiant Group’s managing director Paul Yap said that the group’s proposed listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia) aimed […]

Radiant to raise RM29.5m from IPO

KUALA LUMPUR: Retail technology solutions provider Radiant Globaltech Bhd plans to raise RM29.5 million from its initial public offering (IPO) and expand in the Southeast Asia (SEA) region, in particular the Indonesian market.

Speaking at the IPO prospectus launch, Radiant group managing director Paul Yap Ban Foo said that the group’s proposed listing on the ACE Market of Bursa Malaysia Securities Bhd on July 24, aims to extend Radiant group’s regional footprint and raise funds to support its expansion plans.

“We are mindful of the economic growth and rapid urbanisation in SEA, which create a conducive environment for the retail sector. The anticipated conversion from manual systems to automated retail technology solutions presents growth opportunities for us,” he said in a statement.

Yap said it is armed with experience in Vietnam and Cambodia to continue its expansion plans in SEA region, with near term focus on Indonesia’s booming retail market.

“We also intend to aggressively pursue growth in our in-house retail software management solutions, namely AX Retail B2B Portal and AX Retail Consignment Portal, and leverage on our large customer base of hardware customers to cross-sell our software products. We aim to enhance operational efficiency, facilitate seamless retail management processes, and enable efficiency and transparency within the supply chain of retail clientele,” he said.

The group also plans to establish a regional sales support team to raise awareness and enhance sales for the group’s software products.

Radiant Group incorporated its Vietnam and Cambodia office in 2006 and 2013 respectively. Since then, the group has established a reputable track record, securing sales from Parkson Vietnam, Aeon Vietnam, and Aeon Cambodia, amongst others.

For the financial years ended Dec 31, 2015 (FY15) to 2017 (FY17), Radiant group’s revenue increased from RM66.4 million to RM80.8 million, while net profit grew RM6.3 million to RM7.1 million.

Radiant Group’s IPO entails the issuance of 128.1 million new shares at 23 sen per share, of which 11.0 million shares will be for application by the Malaysian public.

There would also be an offer for sale of 12.0 million existing shares allocated for private placement to select investors.

Of the total IPO proceeds of RM29.5 million to be raised, RM11.6 million would be utilised for business and capital expansion, RM3.0 million for the expansion of the group’s retail software business, while RM4.8 million is for working capital.

Additionally, RM6.6 million would be slated for the repayment of bank borrowings with remaining RM3.5 million applied towards defraying of listing expenses.

Alliance Investment Bank Bhd is the principal adviser, sponsor, sole underwriter, and placement agent for the IPO exercise.

Retail association sees 30pc growth for Malaysian businesses by 2020

PETALING JAYA, June 26 ― The Malaysia Retail Chain Association (MRCA) is confident of achieving 30 per cent growth for the local franchise industry in the next two years. MRCA president Datuk Seri Garry Chua said its target growth is driven by the…

Malaysia power shift hits China infrastructure drive

KUALA LUMPUR: Malaysia was once a loyal partner in China's globe-spanning infrastructure drive but a new government is now pledging to review Beijing-backed projects, threatening key links in the much-vaunted initiative.

Kuala Lumpur's previous regime, led by scandal-mired Datuk Seri Najib Abdul Razak, had warm ties with China and signed a string of deals for Beijing-funded projects, including a major rail link and a deep-sea port. But the long-ruling coalition was unexpectedly turfed out of power last month by voters disgusted at allegations of corruption and angered at rising living costs.

The new government, led by political heavyweight Tun Dr Mahathir Mohamad, has pledged to review Chinese deals seen as dubious, calling into question Malaysia's status as one of Beijing's most cooperative partners in its infrastructure push.

China's ambitious initiative to revive ancient Silk Road trading routes with a global network of ports, roads and railways – dubbed “One Belt, One Road” – was launched in 2013 and is the economic crown jewel of President Xi Jinping's presidency.

Malaysia, along with Beijing ally Cambodia, were seen as bright spots in Southeast Asia, with projects in other countries often facing problems, from land acquisition to drawn-out negotiations with governments.

“Malaysia under Najib moved quickly to approve and implement projects,” Murray Hiebert, a senior associate from think-tank the Center for Strategic and International Studies, told AFP.

Chinese foreign direct investment into Malaysia stood at just 0.8% of total net FDI inflows in 2008, but that figure had risen to 14.4% by 2016, according to a study from Singapore's ISEAS-Yusof Ishak Institute.

However, Hiebert said, it was “widely assumed” that Malaysia was striking quick deals with China in the hope of getting help to cover debts from sovereign wealth fund 1Malaysia Development Bhd (1MDB).

Najib and his cronies were accused of stealing huge sums of public money from the investment vehicle in a massive fraud. Public disgust at the allegations – denied by Najib and 1MDB – helped topple his government.

Malaysia's first change of government in six decades appears to have already unsettled Beijing's plans in the country.

Dr Mahathir has announced a planned high-speed rail link between Kuala Lumpur and neighbouring Singapore has been postponed as he seeks to reduce the country's huge national debt.

The project was in its early stages and had not yet received any Chinese funding as part of “One Belt, One Road”. But Chinese companies were favoured to build part of the line, which would have constituted a link in a high-speed route from China's Yunnan province to trading hub Singapore, along which Chinese goods could have been transported for export.

Work has already started in Malaysia on another line seen as part of that route, and which had received Chinese funding – the US$14 billion (RM55 billion) East Coast Rail Link.

Mahathir has said that agreement is now being renegotiated.

Other Chinese-funded initiatives include a deep-sea port in Malacca, near important shipping routes, and an enormous industrial park. It is not clear yet which projects will be changed or cancelled but experts believe axing some will be positive.

Alex Holmes, Asia economist for Capital Economics, backed cancelling some initiatives, citing “Malaysia's weak fiscal position and that some of the projects are of dubious economic value”.

The Chinese foreign ministry did not respond to request for comment. But a recent commentary in China's Global Times, a nationalist state-run tabloid, warned Mahathir if he damaged the interests of Chinese companies, they had the right to seek compensation . – AFP

Thailand spearheads regional fund to cut reliance on big Asian economies

BANGKOK, June 16 — Thailand is spearheading a new Southeast Asian fund for infrastructure and development projects, Thai Prime Minister Prayuth Chan-ocha told a summit in Bangkok today, a bid to counter reliance on Asian giants, such as China. The…

Heineken Malaysia names Roland Bala as new MD

PETALING JAYA: Heineken Malaysia Bhd has appointed Roland Bala as the managing director to succeed Hans Essaadi, who will become Heineken Egypt managing director effective September 1, 2018.

Heineken Malaysia told Bursa Malaysia that Roland, a Malaysian, is currently the managing director of Cambodia Brewery Ltd (CBL).

Since February 2012, he has led CBL to increase its market share by more than double.

Roland joined Asia Pacific Brewery as special assistant to the regional director from February 2008 until February 2009. He was then appointed as general manager for Danang in the central region of Vietnam from 2009 to February 2012.

Roland started his career with British Petroleum (BP) where he spent 16 years working in sales, logistics, operations and planning roles in retail, gas and lubes businesses.

He was the general manager for BP Vietnam from 2003 to 2005 and then as the sales director for the lubes business for Malaysia and Singapore from 2005 to 2007.