Media Clippings

DVM Technology Bhd (DVM), which made its debut on the KLSE Mesdaq market yesterday, expects its soon-to-be-launched Genico next-generation communications software application to beef up its earnings by 20% this year.

Its executive director Chen Chee Peng said Genico was jointly developed by the company's subsidiary NGC Systems Sdn Bhd and Hewlett-Packard Sales (M) Sdn Bhd and would be launched this quarter.

“Genico was developed using local expertise with support from our technology partner HP,” he told reporters after the official listing of DVM shares on the Mesdaq market in Kuala Lumpur yesterday.

DVM, which has three subsidiaries -- NGC Systems, ET Communications Sdn Bhd and Adtel Systems Sdn Bhd is a specialised systems integrator and software solutions provider whose clients are mainly telecommunications companies.

Its major customers currently include Maxis, Ericsson and Telekom (TM Touch and Celcom).

Chen said that with phase 1 of Genico already available in the market and phase 2 in the pipeline, the company was confident of achieving 20% growth in earnings for the financial year ending Sept 30 from RM3.1mil the year before.

On DVM's plans going forward, Chen said the company planned to expand its operations in Asean, especially Thailand.

He said the company was already aggressively marketing its products and services in Thailand through its Thai partner Datamat Public Co Ltd, an information technology-based company which owns a 30% stake in DVM.

He said DVM expected the Thai venture to contribute 5% of its total revenue this year.

“Apart from Thailand, we are also looking at tapping the vast opportunities in Vietnam,” Chen added.

On the home front, he said DVM had tendered for or was eyeing more than RM100mil worth of projects.

DVM shares opened at 64 sen on the Mesdaq market yesterday for a 24 sen premium over their offer price of 40 sen.

The counter went on to touch a high of 71.5 sen before slipping back to 64 sen at the closing on total volume of 36.05 million shares.