Simat to be listed on SET this year
Grand-Flo Solution expects to list its Thai operations, Simat Technology, on the Stock Exchange of Thailand (SET) by year-end, managing director Derrick Tan said late last week.
After the listing, the company's stake in Simat will be reduced to 36.75 per cent from 49 per cent currently. "Proceeds from the listing will be used to bid for government and private-sector projects," Tan said after the Grand-Flo annual general meeting. For private sector projects, the company will look at the auto, semiconductor and retail sectors, he said. Simat contributed Malaysian ringgit 27.4 million (Bt 277 million), or 58.6 per cent, to the group's revenue of 46.7 million ringgit last year. Grand-Flo is a leading provider of enterprise-data collection and collation systems in both the Thai and Malaysian markets. To extend its presence in the region, the company has identified new markets, including Indonesia and the Philippines. "We are exploring options for partnerships with Indonesian parties and have also been active in the Philippines. "We expect double-digit growth in profit and revenue for financial year 2007 and this will be supported by our overseas and local business," Tan said. He expects overseas business to contribute 55 per cent to group revenue in the current year. "Our ultimate aim would be to replicate the success story currently enjoyed in Thailand." Going forward, Grand-Flo is looking to enter the lucrative Malaysian and Thai healthcare sectors.
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