MESDAQ-BOUND computer systems producer FTEC Resources Bhd will be investing RM3.2mil of the RM17.95mil to be raised from its initial public offering (IPO) in research and development (R&D) over the next three years.
The R&D activities, which are part of the group's overall business development plan, will help keep FTEC abreast of the technology curve and are aimed at continuing development of software products to complement its hardware business.
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