Dynafront opens at 23 sen on LEAP Market debut

Successful debut for Dynafront: From left are DynaFront director Chan Choong Wai, group chief operating officer Gan Hui Ping and managing director/group CEO Chan Eng Lim.

KUALA LUMPUR: Dynafront Holdings Bhd, an insurance technology specialist, made its debut on the LEAP Market of Bursa Securities Malaysia on Friday at 23 sen a share, which was a premium of two sen or 9.6% over its offer price of 21 sen.

Dynafront develops and provides proprietary and customised enterprise information technology solutions for a broad range of life insurance companies.

The insurers include conventional life insurers, Takaful operators, independent corporate life insurance agencies and group assurance operations.

DynaFront’s solutions, offered either as proprietary software products or managed services, have been successfully deployed to markets in Malaysia, Indonesia, Singapore, the Philippines, Taiwan and Hong Kong.

Its managing director and group CEO Chan Eng Lim said many of its key management staff were formerly from the life insurance industry.

“Our extensive industry background and in-depth domain knowledge, coupled with our broad IT expertise, have been instrumental not only in the design and engineering of our software solutions, but also to our group’s success over the years,” it said.

Chan said the group will continue to expand and evolve its solution offerings by adopting microservices based architecture to deliver consistent, high-quality services with security, reliability and agility in all its solutions to its customers.

“With this adoption of microservices architecture, we expect our next generation of software solutions to be lightweight with modern technology stacks and AI driven, in our quest to create a smarter insurance ecosystem.

“DynaFront is also moving into the virtual insurance space, with the group’s research and development team focusing on the development and implementation of new mobile applications in wearable technologies, including web-enabled smart devices that use embedded systems,” he said.

Hong Leong Investment Bank is the approved adviser, placement agent and continuing adviser for the listing exercise.