By NUR HAZIQAH A MALEK / Pic By MUHD AMIN NAHARUL
SL Information Bhd (SL Info) plans to use the proceeds from the listing on Bursa Malaysia’s Leading Entrepreneur Accelerator Platform (LEAP) Market to expand and further develop its products and services, and tap niche segments of the information technology (IT) market.
SL Info ED Sim Boon Ker said the IT market is looking for greater productivity and operational efficiencies.
“We are looking to expand via our in-house development MountainTop solutions. We expect about 30% will be used from the proceeds of our listing,” he said after the company was listed yesterday.
MountainTop is the company’s series of business application. The solutions allow companies to leverage on the advantages of mobility, one of the key factors in the advancement of the Internet of Things (IoT).
The company raised almost RM1.9 million from the listing. SL Info has issued 10.5 million shares representing 8.3% of its share capital to investors. SL Info shares rose five sen when it opened on the LEAP Market.
Sim said the listing will enhance the company’s corporate profile and widen its presence in the corporate world.
“We also aim to tap into the capital markets, as well as to provide investors an opportunity to participate in the company’s equity and establish liquidity for its shares,” he said.
Sim also said the company will explore strategic collaborations to complement its businesses.
“We know our customers’ businesses and demands. We serve to provide them innovative solutions and thought leadership that delivers tangible business values,” he said.
For its financial year ended Dec 31, 2017, the company registered a profit before tax of RM5.54 million compared to RM3.12 million in 2016.
Meanwhile, Sim said the IT infrastructure technology solution growth will be largely driven by the digital data volume.
“It will also be driven by technological evolution to include big data, the IoT and artificial intelligence, as well as the continuous growth of new enterprises,” he said.