KUALA LUMPUR: Information technology solutions provider Cloudpoint Technology Bhd
was traded on the Main Market of Bursa Malaysia today following its transfer of listing from the ACE Market.
At the end of the early session, the share was traded three sen or 3.41% lower at 85 sen a share after 6.41 million shares traded.
In a statement, the company said the transfer of listing reflects its expanding business. Listed on the ACE Market on May 29, 2023, the company has registered a compoinded annual growth rate (CAGR) of 25% in profit after tax from FY20-FY24.
It added that the move is expected to provide the group with greater access to the broader capital market and attract a wider base of institutional investors.
"We have been an integral part of the digitalisation journey of our financial services
industry clients, and the advent of Artificial Intelligence (AI) has opened new
opportunities for us with rising demand for AI-driven IT infrastructure, platforms, and software.
"With Malaysia’s increasing focus on AI, digital transformation, and cybersecurity, Cloudpoint is well-positioned to support enterprises in building future-ready digital infrastructure," said Cloupoint executive director and CEO Datuk Wira Chong Wai Hoong.
Expressing optimism for the group's growth prospects, Choong said the Main Market listing will enhance its visibility among investors and broaden its access to capital as it pursues its strategic priorities.
