MCOM jumps 10.7% on LEAP Market debut


  • Business
  • Wednesday, 03 Jul 2019

From left are: MCOM Holdings Bhd financial controller Stella Wong; executive director Chew Lee Poh; CEO Ho Kim Hun; chairman Neil Foo Seck Chyn and group general manager David Ng Wui Ming.

KUALA LUMPUR: MCOM Holdings Bhd, which made its debut on the LEAP Market of Bursa Malaysia today, jumped three sen or 10.71% to 31 sen at the start of trading.

At 11.30am, the share price remained at 31 sen with 30,500 shares traded.

In a statement issued on Wednesday, the company said it has plans to enhance and localise its digital marketing solutions in Cambodia while upgrading its mobile platform.

According to MCOM CEO and executive director Ho Kim Hun, the company set up the data and network operating centre in Phnom Penh in June 2018.

"We started offering internet services in Cambodia in 2018 which will complement our existing digital marketing solutions. 

"We believe this plan will not only increase our revenue stream, but also contribute to the growth of the internet infrastructure in Cambodia,” he added.

Meanwhile, the company is upgrading its mobile advertising platform so that it features a fully automated interface between advertisers and publishers.

MCOM was awarded a 30-year ISP licence and frequency licence by the Cambodian telecommunications regulator in 2016.

It also leveraged on a local fibre optic cable provider's infrastructure to roll out wired and wireless internet services.

"These internet services are complementary to its digital marketing solutions. 

"With these internet service infrastructures, MCOM will be able to localise its digital marketing solutions to meet consumer needs in Cambodia through the analysis of internet and mobile usage patterns in the country," it said in the statement.

Under the listing exercise, MCOM raised RM5.28mil from the placement of 18.86 million shares at 28 sen per share.

About 54.9% or RM2.9mil of the proceeds will go towards setting essential facilities to offer wired and wireless Internet services in Cambodia while RM880,000 will go towards enhancing the automation of its mobile advertising plarform and infrastructure.
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?

Yes
No

Next In Business News

Moody's expects Petronas' credit metrics to stay strong through 2021
Public Mutual declares RM22m distributions for 6 funds
Airline stocks soaring, but there’s still a long way back
UK's Sunak says public finances won't be fixed overnight
Buffett upbeat on US and Berkshire, buys back stock
China's factory activity expands at a slower pace in February
CPO futures trading to remain range bound next week
Advisory panel unanimously recommends FDA authorize Johnson & Johnson COVID-19 vaccine
GameStop rally fizzles; shares still register 151% weekly gain
NYSE begins move to delist Chinese state oil producer CNOOC

Stories You'll Enjoy


Vouchers