CROESUS IT EYES PLANTATION TECH EXPANSION FOLLOWING LEAP MARKET DEBUT

KUALA LUMPUR, Dec 3 (Bernama) -- Croesus IT Holdings Bhd is bolstering its focus on plantation technology (tech) as a key growth segment for the company following its listing on the LEAP Market of Bursa Malaysia today.

Managing director Richard Liau said the plantation tech segment is an important market for expansion, especially in Malaysia and Indonesia, and that Croesus IT aims to integrate its digital solutions into the segment.

“Plantation software is a key area for us. Indonesia and Malaysia are the main target countries for us at the moment,” he said in a press conference after the listing ceremony here today.

Croesus IT’s plantation solution combines SAP Business One as the backend system with its proprietary front-end modules covering checkroll management, vehicle running analysis, block reporting and other plantation-specific processes.

Liau said Croesus IT will leverage the visibility gained from its listing to support regional expansion, particularly in Singapore and Australia.

“The objective of this listing is marketing so that we can grow globally and regionally. We aim to expand in Singapore and Australia soon after the listing,” he said.

He added that Croesus IT is seeking to tap Singapore’s upcoming e-invoicing requirements, leveraging experience gained from Malaysia’s multi-phase e-invoice rollout.

Croesus IT’s listing exercise was implemented by way of an introduction rather than a public offering.

The exercise entails listing its entire issued share capital, comprising 100 million ordinary shares at 12 sen per share, resulting in a market capitalisation of RM12 million. 

-- BERNAMA