Media Clippings

DVM Technology Bhd expects its business ventures in other Asean countries to contribute about 5% to revenue next year, chief executive officer Wong Wai Wah said yesterday.

DVM was now looking at venturing into Thailand within next year, he told a press conference in Kuala Lumpur yesterday after a balloting of the company's four million shares for the Malaysian public, which saw an oversubscription of 90.3 times.

DVM's initial public offer (IPO) comprised 40 million shares of 10 sen each at an issue price of 40 sen per share, of which eight million were made available to its employees, 28 million for placement to selected investors and four million for the public.

The company is en route to a Mesdaq listing on the KLSE on Jan 2.

Its core activities include the provision of specialised telecommunication, data communication and computer network solutions; specialised systems integration solutions; development of open source and next generation communication software applications; and other related professional services.

Wong said the company expected to see larger contributions from other overseas ventures in the years to come, but would focus on Thailand for the time being.

DVM posted revenue of about RM59mil for the financial year ended Sept 31.

About 70% to 80% of the company's revenue for 2003 came from its contract with Lantro Vision Sdn Bhd.

The IPO would raise RM16mil, to be used for DVM’s branding and promotion, project financing, working capital and research and development. – Bernama