Mesdaq-bound iNix to tap US and UAE security markets

HOME security solutions provider iNix Technologies Holdings Bhd plans to expand its operations in the United States and United Arab Emirates (UAE), said chief executive officer Jimmy Tok. 

The company launched its prospectus yesterday in conjunction with its proposed listing on the Mesdaq market in September.  

“iNix has already promoted iNix products in the US and UAE and would appoint distributors in these markets,” Tok said at the prospectus launch in Kuala Lumpur. 

He said the company has established a presence in China, Indonesia, Sri Lanka, Singapore, Australia and Europe. 

iNix’s net profit for the six months ended Jan 31 rose to RM2.45mil compared with RM1.35mil for the 15-month financial period ended July 31, 2004. “We are working hard to maintain the results for the next six months,'' he said. 

iNix would allocate at least RM2.5mil, or 24.6%, of the proceeds from the initial public offering to expand its research and development projects. 

iNix's IPO involves an offer for sale of 14.49 million 10 sen shares at an issue price of 70 sen per share. – Bernama