Datascan aims to list on Mesdaq

  • Business
  • Tuesday, 09 Sep 2003

BY LEE KAR YEAN in Shah Alam

DATASCAN (M) Sdn Bhd, which is positioning itself as a point-of-sale (POS) systems vendor in South-East Asia, has decided to seek listing on the Mesdaq market, possibly in the first quarter next year. 

The company is anticipating an increase in demand for POS hardware terminals and software in the region as its solutions and services are widely used in the food and beverage (F&B) industry and the retail sector, according to Datascan chief executive officer C.J. Ang. 

C.J. Ang

“We plan for the proposed listing exercise to raise between RM12mil and RM15mil, which will be used to facilitate our regional expansion as well as develop new products for the South-East Asian and Australian markets,” Ang told StarBiz after the signing a memorandum of understanding (MoU) with Taiwan's Mustek Corp in Shah Alam yesterday. 

Datascan executive director Koay Teng Heng said the company had appointed AmMerchant Bank as adviser and underwriter for the listing exercise. 

“Our company was set up in 1979 and we are a pioneer in POS systems in Malaysia. Our clients include Kentucky Fried Chicken and Pizza Hut,” he said. 

Koay said the company was poised to achieve after-tax profit of RM1mil this year and RM3.5mil in 2004 with the anticipated favourable global economic conditions next year. 

Meanwhile, the MoU that Ang signed with Mustek chief executive officer Owen Chen yesterday was on the forging of technology co-operation. Under the accord, Datascan will distribute Mustek's Posiflex range of POS hardware terminals and peripherals in Malaysia and the region. 

“Our POS solutions are mainly used in the hospitality and quick service (fast-food restaurants) sectors. We can feel the tourism and hotel industry coming back in full force now that the threat of SARS is over,” Ang said. 

He said Datascan, through subsidiary Transight Technologies Sdn Bhd, had developed its “Malaysian-made” POS software known as Transight Smart Service Suite, which would be used in collaboration with the Posiflex range of hardware terminals to service the hospitality industry. 

Mustek's Chen said the Taiwanese company was considering setting up a regional research and development centre for hardware technology at the Multimedia Super Corridor in collaboration with Datascan. 

“Mustek is committed to maximising technology transfer to Datascan,” he said. 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Across the site