INTERNET-BASED surveillance systems producer MoBif Bhd, en route to a listing on the Mesdaq market on May 21, will allocate RM2mil from its projected listing proceeds of RM10.24mil to research and development (R&D) expenses.
In its prospectus, the company said the R&D was aimed at facilitating future development of new versions and applications of its existing products. MoBif's R&D activities will include recruiting additional dedicated technical engineers.
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