PETALING JAYA: MM Computer Systems Bhd (MMCS) is targeting a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in the design, implementation and configuration of information technology (IT) solutions, provision of IT outsourcing services, as well as sales and leasing of IT hardware and software.
In its prospectus exposure, released today, the company said its initial public offering (IPO) will entail the public issue of 119 million new ordinary shares.
Malacca Securities Sdn Bhd is the sponsor of the company’s IPO.
The company said proceeds from the IPO will be used for the procurement of IT hardware and software, workforce expansion and capability development, repayment of bank borrowing and listing expenses.
MMCS said it intends to develop its own integrated ticketing system.
“We currently utilise a ticketing system for performing ticketing for our maintenance and technical support services, inventory management for spare parts, and extraction and customisation of service reports.
“This software requires manual handling of tasks and involves a large amount of paperwork for our employees. To improve our operational efficiency and facilitate faster processing, we plan to develop a new paperless system.”
The company said this system will digitise and seamlessly integrate data across all departments, allowing for faster and more efficient communication.
“Further, this system will allow for better management of our customers’ IT software subscription renewals, which is currently performed manually.
“This system will automatically notify our personnel when a subscription is almost due for renewal, allowing them to send a reminder to the customer in a timely manner.”
MMCS said it intends to recommend and distribute a dividend of up to 20% of its annual audited profit after listing.
