PETALING JAYA: OpenSys (M) Bhd, a solutions provider for the financial services, telecommunications and utilities industries, aims to increase the number of its institutional investors following the completion of the transfer of its listing to the Main Market of Bursa Malaysia.
CEO Eric Lim said the listing transfer gives the group greater access to a broader capital market as well as to attract more institutional investors, given that its products comply with syariah and environmental, social & governance requirements.
“Currently, because we were in the ACE Market, we have a single-digit percentage of institutional investors. We do have insurance funds that have invested in us. That’s why we’re looking forward to get on the Main Market to attract more institutional investors,“ he told a press conference at the transfer listing ceremony today.
Lim said the group is optimistic of prospects for the rest of the year and beyond as it leverages on its strong clientele and increasing reputation.
“Our strong order book of RM38 million will bode well for the current financial year as well as building up momentum for our core and new business segments moving forward,“ he said.
OpenSys products include cash recycling machines, buySolar, as well as the new smart teller cash recycler (Smart TCR).
For its Smart TCR business, OpenSys has three banks on board thus far – Hong Leong Bank, Affin Bank and Alliance Bank. It is in close discussions with four other banks to initiate pilot projects.
“The adoption of new digitalisation solutions such as Smart TCR will continue to spur our profitability,” Lim said.
The group said its Smart TCR machine automatically counts, verifies and stores cash as well as speeds up the processing time of cash transactions, which increases bank teller efficiency, allowing them to focus on products and services advisory and customer query assistance.
In addition, Lim said its solar segment through the buySolar online marketplace has gained traction among solar power providers, financiers and insurers. Year to date, buySolar has a total of 24 industry players after it recently added four solar power providers and two banks to the online marketplace.
“We aim to collaborate with partner banks to offer customers various solar financing packages with attractive rates to boost adoption,” added Lim on buySolar.
OpenSys was listed on the ACE Market in January 2004. It has distributed dividends for the past 12 years, of which the group managed to pay quarterly dividends for 17 quarters.
For the first half of FY22, OpenSys’s net profit rose 16.89% to RM5.39 million from RM4.61 million in the same corresponding period last year, as revenue grew 24.3% to RM35.6 million from RM28.6 million in the same period last year on the back of an increase in hardware revenue, largely contributed by delivery of CRM to its banking customers as well as the increased revenue from software solutions and services segment from the maintenance services and SmartCIT.
