Breaking new ground in digital security

Law: Securemetric is looking into launching new digital security solutions in the near future.

Securemetric Bhd is eyeing the launch of security-as-a-service (Secaas) solutions in the near term, in accordance with the plans lined out in the prospectus for its 2018 initial public offering (IPO).

Its prospectus laid out the plan to utilise RM5.7 mil (33.5%) of the proceeds for the development of new digital security solutions within 24 months, which could bear fruit before the year ends. Barely a year ago, the digital security technology company listed on Bursa Malaysia Bhd’s ACE Market, with an IPO comprising 68 million shares at 25 sen each, to raise RM17mil. Support for its Nov 13 debut last year was strong, as its stock was the day’s most actively traded counter, closing at 53.5 sen.