KUALA LUMPUR: Croesus IT Holdings Bhd, a Malaysia-based provider of enterprise software solutions, aims to scale regionally within the next three years, supported by the brand visibility gained from its LEAP Market listing and demand across Asia.
Managing director Richard Liau said the group plans to expand into Singapore, Australia and Indonesia in 2026.
“We aim to grow basically Singapore, Australia, et cetera, quite soon after the listing. Then more expansion after we go overseas. We probably are looking at three years is good,” he said during a press conference after its debut on the LEAP Market of Bursa Malaysia Securities Bhd yesterday.
He said Asia is where the strongest demand and fastest growth are happening, and Croesus intends to anchor its expansion strategy here to maximise momentum and competitive advantage.
“Asia is a very big growth market for us. SAP, actually, the channel management team have told me a lot of people from Hong Kong, US, Germany are basically looking to invest in Asia.
“Meaning we are actually the growth hub. They may be big, but the growth percentage wise is much bigger in Asia. So, we think that we would like to focus and take advantage of the fact that we are Asia based first.”
Liau said that although the listing was mainly for branding and visibility rather than fundraising, the group is already seeing early gains.
“We’ve been called in to Australia to do some work. We’ve been called in for quite a few pitches now. Hope to close some deals shortly,” he said.
He explained that Singapore is a key market due to the upcoming rollout of e-invoicing requirements.
“They are basically starting up the e-invoice, which we already, we don’t want to say suffer, but we went through already from the learning experience in Malaysia for phase one, two and three. So, we want to take that experience and then monetize it, if you will, in Singapore and grow market share there.”
For Indonesia as well as Malaysia, the group is targeting the agriculture sector, particularly the plantation software segment.
Liau added that post-listing, Croesus IT will also push its Croesus myHR platform, an ERP-plus-HR system that manages manpower, leave, payroll, time attendance and performance measurement.
“Basically, it will help you make better and more productive use of your manpower. So, all that is coming up literally this month in Singapore and Malaysia,” he said.
He said Singapore will initially be explored via branch operations due to the complexities of the tax structure there.
The listing exercise was implemented by way of introduction and involved the admission of its entire issued share capital of 100 million ordinary shares at a listing reference price of 12 sen per share, valuing the company at RM12 million.
LEAP listings cater to high-growth companies seeking profiling rather than immediate valuation maximisation.
“The intention is to gain publicity and market awareness to acquire more customers. Once that translates into stronger profitability and a wider client base, the next step is to qualify for an ACE Market listing,” said DWA Advisory Sdn Bhd’s Datuk Wan Asmadi Wan Ahmad.
Croesus IT is principally involved in enterprise software solutions, offering both third-party systems and proprietary platforms, including SAP Business One, SAP Cloud ERP, Croesus myAgri, Croesus myHR, Croesus myE-Invoice and Croesus Business Intelligence (BIX). Its operating subsidiary, Croesus IT Solutions Sdn Bhd, was incorporated in 2004 as the pioneering Malaysian channel partner for sales, delivery and support of SAP Business One.
Its customer base spans industries such as manufacturing, aviation, fast-moving consumer goods, fertiliser, pharmaceuticals, fertility sciences, clinical diagnostics, life sciences, IT services, publications, printing, as well as oil palm plantations and milling. Croesus IT is also the first SAP Business One partner to be listed on Bursa Malaysia.
