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Asdion Open Beyond Expectations, Says CEO

13-01-2005

KUALA LUMPUR, Jan 13 (Bernama) -- Asdion Bhd started off its debut on the Mesdaq Market of Bursa Malaysia Thursday with a premium of 46.5 sen when its shares opened at 96.5 sen today.

"It is beyond my expectations. I didn't expect this high," said chief executive officer Yap Tai Tee after the listing here today.

The company, which specialises in software solutions for small and medium scale enterprises, offered its shares at 50 sen each.

The 12 year-old company, which plans to expand its business locally and abroad, 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 industry," Yap said.

He disclosed that the company had drawn a master plan to expand its business abroad but Malaysia and Singapore would remain its core business centres.

Yap said the company was also eyeing China, which would host the 2008 Beijing Olympic Games, as it was expected to generate plenty of business opportunities for software companies.

"The Chinese government has allocated a budget of about RMB100 billion (Renminbi) for the games and there is also private sector investment. There will be lot of business opportunities, especially in the service sector. Even if we get one percent is good enough," he said.

Yap said today's floating exercise would further bolster confidence among the company's customers and promote Asdion's brand name.

 

--BERNAMA


Source: bernama.com/bernama/v3/news_lite.php?id=114098