Company Background

The company was incorporated in Malaysia under the Companies Act 1965 on 11 June 2007 as a private limited company under the name of Infomina Sdn Bhd and is deemed registered under the Act. On 21 February 2022, the company converted into a public limited company and adopted the present name.

The company is a technology solution provider that provides maintenance and support services for IT-related products and also investment holding. The group structure at LPD is as follows:

Use of proceeds

1. Strengthen R&D to expand technological application and infrastructure solutions - 23.4% (within 24 months)
2. Regional expansion to capture growth opportunities - 17.0% (within 18 months)
3. Branding, marketing and promotional activities - 2.7% (within 18 months)
4. Working capital - 43.0% (within 12 months)
5. Estimated listing expenses - 13.90% (within 1 month)

Strengthen R&D to expand technological application and infrastructure solutions - 23.4% (within 24 months)

The group recognizes the increasing demand for technology application and infrastructure solutions in all industries and the company wishes to strengthen its R&D and technology capabilities in order to maintain competitiveness as well as increase its market presence.

The total estimated costs for the R&D expenditure is RM7.6 million comprising application development costs of VIDESPACE amounting to RM3.1 million, while the investments and additional expenditure for the regional Centre of Excellence are estimated to cost RM4.5 million.

The details of the utilization of proceeds for the R&D activities set out above are as follows:

Regional expansion to capture growth opportunities - 17.0% (within 18 months)

The company intends to expand regionally in the ASEAN region as well as China, Hong Kong and Taiwan by further strengthening the business expansion into these countries. They are planning to recruit additional sales and technical staff for the regional offices as They aim to increase their competitiveness and enhance the comprehensiveness and quality of the technology application and infrastructure solutions. They have taken into consideration the scope of work for the ongoing projects in determining the estimated expenses to be utilized.

The company intends to allocate approximately RM5.5 million, representing 17.0% of the gross proceeds from the Public Issue, within 18 months from the date of the Listing. Further details are set out in the table below:

Branding, marketing and promotional activities - 2.7% (within 18 months)

The company aims to increase market visibility and brand recognition by participating in more industry exhibitions and forums and placing advertisements through various platforms such as digital publications, websites, in-application advertisements and social media platforms. Historically, they have incurred minimal costs (FYE 2019: RM35,000; FYE 2020: RM38,000, FYE 2021: RM6,000 and FYE 2022: RM8,000) for branding, marketing and promotional activities, mainly for targeted events at the customer locations.

To strengthen the marketing and sales activities, the company intends to utilize RM0.9 million of the proceeds from the Public Issue over the next 18 months in the following manner:

Working capital - 43.0% (within 12 months)

The group’s working capital requirements are expected to increase in line with the growth in business operations. They have allocated RM14.0 million to be used to supplement the working capital requirements for the new projects and/or contracts. The proposed allocations of the proceeds are set out below:

Business model

The group is a technology firm, and the principal design and implement technology application and infrastructure solutions that support the fundamental business operations of our customers. The technology application and infrastructure solutions that they specialize in are mainframe technology solutions, and they also have capabilities in developing solutions based on other technologies such as virtualization, API, and distributed computing environment, from suppliers such as Supplier I, VMWare and Software AG. The company leverages Broadcom software technologies as well as Supplier I technologies to deliver mainframe technology solutions. They further support our customers through customized operations, maintenance and support services for technology solutions.

The company delivers technology application and infrastructure solutions which usually entail a detailed understanding of the business needs, processes and technology requirements of our customers. Among others, this involves

1. a detailed assessment of the customers’ existing (physical as well as technology) infrastructure;
2. design of solutions and corresponding business processes; and/or
3. integration of hardware and software.

Design and implementation of technology application and infrastructure solutions

The technology application and infrastructure solutions are tailor-made to each customer based on their business needs, industry practices as well as technological developments. The technology application and infrastructure solutions are aimed at supporting the fundamental business operations of its customers.

Specifically, the company adopts the following technology implementation methodology:

Click here to continue the IPO - Infomina Berhad (Part 2)

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