iNix plans four more outlets by year-end

BY SHILING WOON

HOME security solutions provider iNix Technologies Holdings Bhd plans to open four more outlets – two in the Klang Valley, one each in Kuantan and Sarawak – by year-end to tap the existing houses for its seccurity system, said chief executive officer Jimmy Tok Soon Guan. 

The company's current customers are mostly from new housing projects. 

“We plan to establish showrooms for our SecureSmith wireless security system to attract new customers,” Tok said after iNix listing on the Mesdaq market in Kuala Lumpur yesterday. 

Currently, the company has two existing outlets in Cheras and Puchong. 

SecureSmith utilises the company's in-house G-LOP wireless technology, which is based on the power line carrier technique where electronic signals, data and information that instruct the security system are carried via existing power lines in a house or building. 

In addition, iNix also uses D-RF technology (digital radio frequency), which allows radio frequency transmissions between the system and security sensors. 

Independent non-executive chairman of iNix Datuk Megat Fairouz Junaidi Megat Junid striking the gong at the company listing on the Mesdaq board of Bursa Malaysia in Kuala Lumpur yesterday. Looking on are the company's senior management personnel. - Azhar Mahfof

The SecureSmith system can control up to 4,000 appliances in a building. 

The company plans to allocate about RM250,000 to establish its new outlets. This will come from internal funds. 

“All outlets (six in the country by year-end) are owned by our distributors, and we will be technically assisting them,” Tok said. 

iNix shares opened at 65 sen yesterday, 5 sen lower than the issue price of 70 sen. The counter touched a high of 65 sen before closing at its low of 47 sen on volume of 6.2 million shares. 

Asked whether the lower opening prices would affect the company's business, Wyncorp Advisory Sdn Bhd's Wong Yoke Nyen, said: “The opening price is due to weak market sentiment and we do not see any significant impact on iNix.” 

iNix plans to venture into United Arab Emirates (UAE) and the United States this year. 

“Currently, we have already secured a foothold in the US, and we are in the midst of finalising terms and conditions in UAE,” said Tok. 

He added that the company expected to be fully established in these two countries by next year. 

“The key strategy to venture into these countries is by appointing local distributors to market our system,” Tok said. 

The company's overseas market contributed 55% to its first-half revenue for the financial year ended July 31. 

“However, we hope to have a balanced contribution from these two (foreign and local) segments soon,” noted Tok. 

iNix makes 75 units of its security system per shift a day. “However, if the market demand is high, we may increase production,” Tok said, adding that the company's current staff strength was 67.