Skali Group, an integrated eGovernment and eBusiness company, is considering listing its company on the Main Market of Bursa Malaysia or an interna-tional bourse in the next 12 months.
Skali Group (formerly known as Alam Teknokrat Sdn Bhd) group chief executive officer and co-founder Tengku Farith Rithauddeen said the company is either looking at listing in Malaysia (Bursa Malaysia) or in a foreign bourse, in a market which is yet to be determined.
“We might want to list our company abroad because we feel that the locals do not understand how to trade in technology stocks. But the idea to list abroad has not been finalised yet. It is still something we are considering,” he told Business Times in an interview at the company’s headquarters in Menara Sentul last week.
Tengku Farith said the company is looking at raising RM30 million to RM40 million from the listing exercise.
“We (the board) are going to meet this month to finalise matters. We are definite in our plans to list and this is not something that we are just saying. In the next 12 months, we are definitely listing,” he said, adding that the company is qualified enough to be listed on the Main Market.
Tengku Farith did not discount the possibility of conducting a dual listing in the future.
“We may consider dual listing but for a start we are looking at listing on one board first,” he added.
He said the company wants to go public because it needs capital for its regional expansion, which includes penetration into Middle East markets.
Besides listing, he said, the company is also looking at several mergers and acquisitions within the region with similar businesses, which includes training, data centres and solutions.
“We have a working relationship with these companies and we are looking at merging with several companies. Details on this matter will be announced in due course,” he added.
Tengku Farith said the company will be investing about RM20 million to RM25 million as its capital expenditure in the next 2 to 3 years.
“We are looking at investing in new technologies such as cloud computing,” he said.
As for the company’s performance, Tengku Farith said the company’s net profit stood at RM7.2 million last year, a 20 per cent increase from the RM5.4 million recorded in 2010.