Event :IPO Conference 2004: Conference on Initial Public Offerings (IPOs) - Scaling New Heights for Prospects in Fundraising Strategy
Organiser : U-LINK
Venue : Holiday Villa, Subang
Date : 21st September 2004
Time: 5.00 pm - 5.00 pm
Session B: Accounting & Financial Issues
Topic : Going MESDAQ : KarenSoft Technology Berhad’s Experience
Presented by : CEO/Executive Chairman, Chee Chong Hwa, CA(M), CPA
Contents of this Presentation
Brief background of KarenSoft
Reasons for seeking listing on Mesdaq
Benefits of this listing
Various milestones
Challenges KarenSoft faced during the listing process
How KarenSoft transformed itself from private to public company
Any other pertinent points for Mesdaq aspirants
Corporate Information
Why list on KLSE MESDAQ Market ?
KLSE MESDAQ Market is a separate board to cater for high growth or high tech companies such as KarenSoft Technology Berhad
Strict due diligence by MESDAQ but no need to have 2nd Board profit track record
To raise funds for R & D, local and overseas expansion
To have a higher profile which is good for Branding & Marketing
To show customers that we are here to stay
To encourage staff retention via ESOS
To allow angel and institutional investors an exit point
Benefits of listing on KLSE MESDAQ Market ?
Provide liquidity for shareholders
Improved cashflow
Remain competitive via pure and applied R & D
Funds is now available for local and overseas expansion
Funds is now available to build up the KarenSoft Brand via active advertisement, participation in roadshows, ICT events in Malaysia and overseas thus increasing share
Effective staff retention via ESOS
Improved customer service via increased headcount and additional training facilities
Improved credibility
Milestones
Acceptance by a MESDAQ Advisor such as AmMerchant Bank to prepare and submit application
Meet milestones (if any) set by MESDAQ Advisor
Actual Submission of application including 5-year Biz Plan (24 January 2002)
Clearing 1st and subsequent round queries raised by KLSE . Presenting to/Visit by KLSE MESDAQ Market
Approval by KLSE
Approval by SC as an Approved Company (15 July 2002)
Underwriting of public issue (yellow, pink & white forms)
Final clearance of Prospectus by SC
Issue of Prospectus (18 December 2002)
Balloting of white forms (29 Jan 2003)
Actual listing (24 Jan 2003)
Challenges faced by KarenSoft in Listing
Must have funds to pay upfront to reporting accountants, due diligence lawyers and MESDAQ Advisors etc
Balancing the need to perform and yet concentrating on meeting Advisors, KLSE & SC requirements
Appointing the right Advisor i.e cost is not the only factor
Placing out shares during a bearish market
Competing for Media attention
Transformation from Private to Public Company
Shareholders Approval to legally change from Sdn Bhd to Bhd
Change of mindset i.e learning to behave as a Public Company
Corporate Governance
Search and appointment of experienced Independent Directors
Formation of Board Committes such as Audit, ESOS and Remuneration
Corporate Governance
Other Relevant Areas
Support from shareholders (particularly VCs) , directors and staff
Investors Relations
Media Support
Corporate Governance
Quick Introduction
Corporate Profile
Corporate Structure
Board of Directors
Strong Management Team
Human Resources
Business Model
Our business model is structured so as enable rapid growth both nationally and regionally include :
Collaboration with IBM, Malaysia as an IBM Business Partner
Collaboration with RosettaNet as a RosettaNet Solutions Partner
Direct sales and marketing by our regional offices in Malaysia
Certified KarenSoft Solutions Providers [CKSP] trained and certified by KIT who then act as resellers, installers and maintainers of our software solutions.
In Malaysia , we are focusing on recruiting Systems Integrators and Accounting Firms as our CKSP’s. Our overseas expansion will be CKSP based. For example, we are looking forward to identify and appoint CKSPs in ASEAN, China & the Middle-East
Core Products
KarenSoft ERP2, Seen Graphically
Market Positioning
Achievements
New Straits Times
The Sun Daily
The Star
The Edge
Others
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