Copyright © 2016   |   Salutica Berhad

Saluting The Extraordinaire ™

ANNOUNCEMENT

Annual Report 2016

SALUTICA IS GEARING UP FOR ITS PROPOSED IPO UPON RECEIVING APPROVAL FROM BURSA SECURITIES

 

KUALA LUMPUR, 05 APRIL 2016 – Salutica Berhad (“Salutica” or the “Company”), a one-stop solution provider for the manufacturing of consumer electronic products in Malaysia, today announced that the Company has obtained approval from Bursa Malaysia Securities Berhad (“Bursa Securities”) for the admission to the Official List and the listing and quotation of its entire issued and paid-up share capital ("Listing") on the ACE Market of Bursa Securities. In conjunction with the proposed Listing, Salutica’s proposed initial public offering (“IPO”) will involve a total of 101 million ordinary shares of RM0.10 each in Salutica (“Shares”) comprising a public issue of 78 million new Shares and an offer for sale of 23 million existing Shares.

 

Managing Director / Chief Executive Officer of Salutica, James Lim shared, “Our proposed Listing will strengthen our position as a vertically integrated consumer electronics manufacturer and will further enhance Salutica’s corporate reputation as well as brand name recognition. Armed with equity from the capital markets, we are optimistic with regards to our growth prospects moving forward and remain committed to sustained value creation for both our shareholders and stakeholders alike.”

 

Salutica’s wholly-owned subsidiary, Salutica Allied Solutions Sdn Bhd (“Salutica Allied”) (collectively referred to as the “Salutica Group” or “Group”) is a vertically integrated manufacturer with the capacity to provide the full range of manufacturing services to its customers, as well as being principally involved in the design, development and manufacture of consumer electronic products such as Bluetooth related devices and other electronic products for internationally well-known brands.

 

Based in Ipoh, Perak, the Salutica Group has approximately 800 employees at a manufacturing plant with a total built up area of approximately 30,000 square metres. With an established in-house Research and Development (“R&D”) division, Salutica is actively focused on the development of Bluetooth technology as well as other wireless and touch screen light-guide technologies as an essential move towards ensuring long-term sustainability in the consumer electronics industry, as well as upholding excellence in quality. Fuelled by the Company’s continuous R&D efforts, Salutica successfully launched its in-house brand, FOBO in April 2013, with its range of products utilising Bluetooth 4.0 technology. To date, the portfolio of Salutica’s range of FOBO products include security tags, namely FOBO Tag and FOBO MAX as well as a broad range of Tyre Pressure Monitoring System devices for motorcycles, cars, light trucks and vans. These FOBO products are mainly exported to overseas markets such as the United States, Europe, China, United Kingdom, Japan, Australia, Germany, France and Russia.

 

James Lim added, “This milestone for the Company marks the beginning of a new phase of business expansion for Salutica as we proceed towards becoming a listed entity. We are thankful to the capital market regulators for granting us approval to list and are mindful of the responsibilities that come with being a publicly-traded company. It is a testament to the diligent efforts of the team here at Salutica that the Company has come this far, and we are excited to continue to grow, moving forward.”

 

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ABOUT SALUTICA BERHAD

 

Salutica Berhad (“Salutica” or the “Company”) was incorporated in Malaysia under the Companies Act, 1965 on 19 November 2012 as a private limited company under the name of Blue Ocean Genius Sdn Bhd. and is principally an investment holding company and commenced business as an investment holding company immediately following the completion of the acquisition of Salutica Allied Solutions Sdn Bhd (“Salutica Allied”) on 4 September 2013.

 

 

 

Issued By: Esente Communications (M) Sdn. Bhd. on behalf of Salutica Berhad

Date: 05 April 2016

 

For more information, please contact:

 

Lee Chin Hui

Tel: +603 6201 4110 / +6011 1242 0613

Email: chinhui@esente.com.my

 

Tan Hoay Ming

Tel: +603 6201 4110 / +6016 512 0051

Email: hoayming@esente.com.my