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DSC Solutions surges on debut Written by Joseph Chin
Wednesday, 09 December 2009 09:31
KUALA LUMPUR: DSC Solutions Bhd share price opened at 50 sen, which was double its reference price of 25 sen when it made its debut on the ACE Market on Wednesday, Dec 9.
At 9.24am, it was up 40.5 sen to 65.5 sen. There were 10.41 million shares transacted at prices ranging from 50 sen to 65.5 sen.
DSC’s offer price was 50 sen per 10 sen share. Subsequently, it undertook a one-for-one bonus issue after the public issue and the reference price was 25 sen.
DSC surges two-fold on ACE debut
Written by Daniel Khoo
Wednesday, 09 December 2009 23:25
KUALA LUMPUR: Software and engineering solutions company DSC Solutions Bhd, which made its debut on the ACE Market today, closed two-fold or 49.5 sen higher at 74.5 sen versus its reference price of 25 sen.
As part of the initial public offering (IPO), the company offered its shares at 50 sen per share and then made a one-for-one bonus issue.
The stock opened with a 100% gain surging to 50 sen and was traded an intra-day high of 91.5 sen. It was the most actively traded counter with nearly 73 million shares changing hands.
The stock's performance was not hampered by the weak sentiment on the broader FTSE Bursa Malaysia KLCI, which lost 0.45% or 5.7 points to 1,255.76 at its close.
"I am ecstatic and excited to see that the public has given us its vote of confidence," DSC's group managing director Seah Liang Chiang said at a ceremony to mark DSC's debut here today.
The company, which is an automatic identification and data collection solutions provider, has customers like Seagate and Star Cruises.
Seah said DSC would leverage on its business model to grow its revenue by 10%-20% annually in line with the industry's growth, for the next two years at the very least.
"We try to get businesses which generate recurring business (income). Half of our business comes from recurring business," Seah said, adding that it would not depend on "one to two big projects giving us our entire turnover".
The company said in a statement that it had some 700 installation sites across Malaysia, Singapore, China and Southeast Asia. Its customers in Singapore are the single largest contributor, accounting for about 50% of its revenue.
Thursday December 10, 2009 DSC makes dazzling debut
KUALA LUMPUR: DSC Solutions Bhd made a dazzling debut on Bursa Malaysia ACE market yesterday, closing at 74.5 sen, up 198% from its reference price of 25 sen ex-bonus issue.
The company, which was the most active counter for the day, traded at a high of 91.5 sen and low of 50 sen. Some 72.8 million shares changed hands.
For its listing exercise, DSC had offered its shares at 50 sen apiece. After the public issue, it undertook a one-for-one bonus issue, giving a reference price of 25 sen for its shares.
Founder and managing director Seah Liang Chiang said the share price movement after the opening bell was a reflection of the “great fundamentals of DSC’s business model”.
Seah Liang Chiang (left) and DSC chairman Datuk Dr Mohd Ibrahim A. Wahid looking at the company’s share price at the listing ceremony.
The opening price was 50 sen, giving a 100% premium over the 25 sen reference price.
DSC is an investment holding company with principal business in providing automatic identification and data capture (AIDC) solutions, software and engineering services to various industries.
AIDC is a method of identifying objects, collecting data about them and entering that data directly into computer systems (without human involvement) using microprocessor controlled devices.
Seah said the company aimed for 10% to 20% revenue growth annually for the coming financial years.
“We have set aside for research and development (R&D) RM1.8mil from the proceeds to enhance our products and sell them around the world.
“The business potential in AIDC is also favourable for us,” he said after the listing ceremony yesterday.
He said the company had moved its R&D headquarters from Singapore to Iskandar Malaysia in Johor.
DSC registered a net profit of RM1.8mil on revenue of RM11.2mil for the first nine months ended June 30.
Seah said the company was looking to expand its business in China, Thailand and Indonesia.
“However, our focus currently is still Singapore and Malaysia. About 50% of our business for the financial year ended Sept 30 was contributed by the Singapore market,” he said.
DSC is now present in China through key customer, Seagate Technologies.
