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Asdion Chalks Up 27.5 Sen Premium

14-01-2005

14 January 2005 - ASDION Bhd stock ended its first day on the Malaysian Exchange of Securities Dealing & Automated Quotation Bhd (Mesdaq) market of Bursa Malaysia Bhd at 77.5 sen for a 27.5-sen premium over its issue price of 50 sen on 17.31 million shares traded.

The counter opened at 96.5 sen for a 46.5-sen premium, surprising its chief executive officer, Yap Tai Tee.

"It is beyond my expectations. I didn't expect it to be this high," he told newsmen after trading in the counter started yesterday.

Asdion specialises in software solutions for small- and medium-scale enterprises.

It plans to expand its business locally and abroad, and is trying to capitalise on niche markets in the competitive information technology sector.

"We want to continue developing backroom operations solutions, especially for the travel, hospitality and logistics industries," Yap said.

He said Asdion is planning to expand its business overseas but will still focus its attention on Malaysia.

Among others, Asdion is studying business opportunities from the 2008 Olympic Games in Beijing where, Yap said, plenty of business will be available for software companies like itself.

Source: btimes.com.my/Current_News/BTimes/Monday
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