MyKRIS debuts at 23 sen on LEAP market

And now in countries like Malaysia, the good news is that licensed platforms are affording the public to participate in equity crowd-funding and peer-to-peer lending options. There is also the Leap Market in which companies not quite ready for a full blown listing are able to get listed.

KUALA LUMPUR: MyKRIS International Bhd made its debut on the Bursa Malaysia Leading Entrepreneur Accelerator Platform (LEAP) Market today at 23 sen, a three sen premium over the initial offer price.  At the opening bell, 39.99 million shares were traded.  

MyKRIS, a network service provider and the 10th company to be listed on the LEAP market, is expected to raise RM8 million through this listing.

Managing Director Chew Choo Soon said MyKRIS is planning to set up its own network infrastructure in Johor Bahru and offer network services in Kota Kinabalu through third-party network service providers.

“We acknowledge that the potential in these two areas is attractive based on the positive response from our existing customers in both cities.

“We believe that increasing our presence in these areas will enable us to attract new customers and increase our customer base, thus strengthening our presence in the local managed network service industry,” he told a press conference after the company's listing.

Chew said MyKRIS intends to expand its managed network service business segment into Myanmar, Cambodia and Vietnam.

“We envisage the expansion of our managed network service to take place through the establishment of sales and representatives offices in these countries or through collaborations with third-party local ISPs,” he said, noting the company has secured an order from a local internet service provider in Myanmar for the supply of network equipment to Yangon. - Bernama
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