Media Clippings

KUALA LUMPUR, Jan 2 (Bernama) -- DVM Technology Bhd (DVM), a Malaysian-based company providing communications technology solutions and architecture, aims to expand its operations in the Southeast Asian region.

Its director, Chen Chee Peng, said the move would fuel customer acquisitions and accelerate its in-house applied research development activities.

Initially, the company would market its products and services in Thailand through its Thai shareholder and partner, Datamat Public Company Limited (Datamat), he said after the initial listing of DVM on the Mesdaq Market of the Kuala Lumpur Stock Exchange (KLSE) here Friday.

He said Datamat would tap the Thai market aggressively this year and seek more tenders.

Datamat, with a 30 percent stake in DVM, is developer of IT infrastructure, and provides ASP professional and educations services in Thailand.

Meanwhile, DVM shares opened with a premium of 24 sen over its issue price of 40 sen, with 635,000 shares traded.

Its chairman, Jen (rtd) Tan Sri Abdul Rahman Abdul Hamid, said he was happy with the opening price as it reflected the confidence of the public in the company.

DVM has three wholly-owned subsidiaries, namely, ET Communications Sdn Bhd, Adtel Systems Sdn Bhd and NGC Systems Sdn Bhd.

Besides Thailand, the company has plans to expand to Vietnam in view of the lack of expertise and vast opportunities.

It is also planning to make its mark in Johor Baharu.

For the financial year ended Sept 30, 2003, DVM achieved a revenue of RM59 million and profit of RM3.1 million.

Meanwhile, Chen said the company projected a 20 percent growth, including a five percent contribution from its operations in Thailand, for the current financial year.

He is confident of achieving it in view of the company's good record and experience.

He said RM6 million had been allocated to finance its project tenders.

At present, projects which had been tendered as well as those in the pipeline amounted to almost RM100 million.

Meanwhile, DVM will soon be launching 'Genico', a next generation communications software applications, developed by its subsidiary, NGC Systems.

The application, which functions on real-time communications by maximising leased line or broadband network, enables data, voice and multimedia services for the converged networks.

Chen said Genico was developed using local expertise with support from its technology partner, Hewlett Packard Sales Malaysia (HPSM).

He said Phase I of Genico was already available.

DVM's major clients include Maxis, Ericsson, Genico and TMTouch (Telekom).