KUALA LUMPUR: Integrated payment solutions provider GHL Systems Bhd is targeting for its overseas business to contribute half of turnover by 2009 from about 15% currently.
Managing director Tay Beng Lock said the company wanted to expand its business abroad and would require more funds to grow.
“Besides allowing greater public recognition, GHL System's migration from Mesdaq to the main board would enable the company to borrow funds at lower cost for its expansion,” he told a media briefing yesterday in conjunction with the company's transfer to the main board.
GHL Systems is the second Mesdaq company to migrate to the main board.
For the nine months ended Sept 30, 2006, GHL Systems posted a pre-tax profit of RM5.4mil on RM35.4mil in revenue.
The company, with a paid-up capital of RM60mil, achieved RM30mil in accumulated net profit in the past five financial years.
From left: Group finance director Jeffery Chin, deputy group managing director Yeng Fook Hoo, Tay Beng Lock, chairman Tunku Datuk Abdul Malek and non-executive and non-independent director Tajuddin Atan
GHL targets 50% overseas turnover
“The successful transfer of our listing status will enable us to tap more funds for capital requirements, especially to capture new markets in China and other emerging economies in Asia,” he said.
Deputy group managing director Yeng Fook Hoo said GHL Systems' products and services were also available in Thailand, the Philippines and China.
Yeng said the company invested RM3mil to RM5mil a year on research and development (R&D) to upgrade and introduce new products to the market.
“We spend about 5% of our revenue on R&D. But we also hope to access some funds from the Government via grants or through the small and medium-scale enterprise fund.”
Yeng said GHL Systems' overseas income would eventually overtake its Malaysian revenue contribution as the company's business expanded to new markets in Asia.
“We have about 35% market share in Malaysia. Locally, we will continue to produce new products and add more services while we expand our overseas business,” he said.
