intelligence solution provider Cetheus MSC
Sdn Bhd plans to raise RM15 million from its
proposed flotation exercise, which is expected
to be in the second quarter of 2005.
Its chief executive
officer Simon Kong Chia-Huung says the proceeds
from the listing on the Mesdaq Market will
enable the company to expand and set up a
regional support centre as well as to invest
more in research and development.
"We have not
decided on a merchant bank yet, but we have
started working with consultants on the due
diligence and the proposed exercise, which
we plan to submit at the end of January next
year," he tells FinancialDaily.
technology for gathering information from
various databases such as human resource and
enterprise resource planning systems to chart
sales trends, resource allocation management
and financial management.
Cetheus, which has
a paid-up capital of RM500,000, reported a
net profit of RM2 million on revenue of RM6
million for the financial year ended Dec 31,
from Kong and his two partners, the company
has 30 employees. Emphasis is on R&D and about
RM2 million is allocated annually to ensure
the company has the competitive edge.
He is upbeat
about the outlook for next year and expects
to clinch more sales of its software to government-linked
companies (GLCs) and local conglomerates.
expects the company to benefit from the government's
emphasis on key performance indicators for
GLCs and the local conglomerates' initiative.
Currently, about 60% of Cetheus' revenue is
from the private sector and the rest from
says the company is developing more business
intelligence solutions which will be rolled
out by next year.
new solutions would enable it to make forays
into the region. About 20% of its revenue
is through partnerships from Indonesia, the
Philippines, Thailand and Vietnam.