Sources : Business Times
KUALA LUMPUR: ICT Zone Ventures Bhd is looking for investors from all walks of life to invest in its rental business of electronic equipment such as personal computers, notebooks and projectors, services and software solutions to offices and government institutions.
Its chief executive officer Lim Kok Kwang said the company is offering 22,000 units equivalent to RM110 million of shares up for grabs to anyone who is above 18 years old including foreigners.
"Each unit is RM5,000 and this investment maturity date ends on March 27 2020. When they invest with us under this ICT scheme they will get a return of 8 per cent per annum for the next nine years until the scheme ends," Lim told Business Times in an interview, recently.
Lim said once the scheme reached its maturity date in 2020, only then can investors recoup their entire investment with the company.
Its chief executive officer Lim Kok Kwang said the company is offering 22,000 units equivalent to RM110 million of shares up for grabs to anyone who is above 18 years old including foreigners.
"Each unit is RM5,000 and this investment maturity date ends on March 27 2020. When they invest with us under this ICT scheme they will get a return of 8 per cent per annum for the next nine years until the scheme ends," Lim told Business Times in an interview, recently.
Lim said once the scheme reached its maturity date in 2020, only then can investors recoup their entire investment with the company.
He also said that investors' capital is protected within the cumulative nine-year redemption reserve fund, which is managed by a trustee called My Premier Trustee (Malaysia) Bhd that is approved by Bank Negara Malaysia and SSM.
An independent consultant Pannell Kerr Forster (PKF) accountants will audit the interest scheme every six months to validate its governance.
He said the scheme, which comes under the Companies Act 1965, is another type of scheme which allows small and medium enterprises to raise funds if they are not qualified yet to go for listing.
"We are the first ICT company approved by SSM to be qualified for this scheme. Prior to this only three companies have been approved to raise money from this scheme and they are all from the agricultural sector," Lim said.
He said the company had been approved to collect funds under this scheme on March 28 this year and would launch the fund on a bigger scale sometime in mid July.
According to Lim, the company has over RM50 million worth of electronic equipment and plans to invest another RM10 million this year to purchase more personal computers and other office equipment which can be rented out to its clients.
On the company's performance, Lim said he expects the company to do well this year with a growth of at least 30 per cent by year end.
"Since our establishment in 2001, we have been growing year on year basis on a 30 per cent rate. That is normal for us. However, I hope our growth can surpass the 30 per cent mark this year," he said, adding that the company made a net profit or RM1 million last year.
At present, its cliental includes University Teknologi Mara, The Education Ministry, Kuala Lumpur Convention Centre and Popular bookstore to name a few.
Read more: ICT Zone offers investment scheme http://www.btimes.com.my/Current_News/BTIMES/articles/jrict/Article/#ixzz1RgyH781x
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