Copyright © 2016   |   Salutica Berhad

Saluting The Extraordinaire ™


Annual Report 2016



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: 28 April 2016


For more information, please contact:


Lee Chin Hui

Tel: +603 6201 4110 / +6011 1242 0613



Tan Hoay Ming

Tel: +603 6201 4110 / +6016 512 0051




KUALA LUMPUR, 28 APRIL 2016 – Salutica Berhad (“Salutica” or the “Company”), a vertically integrated manufacturer of consumer electronic products in Malaysia, successfully launched its prospectus today in conjunction with the Company’s listing and quotation of its entire issued and paid-up ordinary share capital on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”).


Salutica, through its wholly-owned subsidiary, Salutica Allied Solutions Sdn Bhd is principally involved in the design, development and manufacture of consumer electronic products such as Bluetooth related devices, as well as other electronic products and precision parts and components for multinational corporations and brands. In addition, Salutica launched its own in-house product line of Bluetooth 4.0 technology products, under the brand name of FOBO in 2013. FOBO’s current product line comprised of, amongst others, FOBO Tire, FOBO Tire Plus, FOBO Bike, FOBO Xtra, FOBO Tag, FOBO Max and FOBO Beacon.


FOBO Tire, FOBO Tire Plus and FOBO Bike are automotive Bluetooth-enabled Tyre Pressure Monitoring Systems (“TPMS”) devices that allow users to monitor the pressure and temperature of tyres of various types of vehicles, including light vehicles, pick-up trucks, bicycles and motorcycles in real-time through the paired Android and/ or iOS smartphone. FOBO Xtra are additional sensors which can be added to the default four (4)-sensors system of both the FOBO Tire and FOBO Tire Plus. FOBO Tag and FOBO Max are Bluetooth low energy wireless tags or trackers that provide real-time information on the proximity of its tags and also can be used as emergency triggers. Meanwhile, FOBO Beacon is a beacon transmitter that broadcasts signals, which can used as a digital media advertising platform by business users to send promotional offers, messages and advertisements to smart devices within the proximity of the FOBO Beacon.


Speaking at the event, Managing Director / Chief Executive Officer (“CEO”) of Salutica, James Lim shared, “It has taken months of steady preparation to reach this day, which marks a significant advance in our listing exercise as well as a truly a huge milestone in Salutica’s corporate history. The successful launch of our prospectus today is a testament to the hard work and efforts of everyone at the Company as well as our advisers, so I applaud their diligence. We have enjoyed steady growth over the years from the development of Salutica’s manufacturing business as well as its FOBO product line. The deeply rooted innovative culture of our research and development (“R&D”) team has enabled the development of the FOBO brand product line, which has experienced a Compound Annual Growth Rate (“CAGR”) in revenue of 226.1% over the past 3 years, which is just one of many of the Company’s notable achievements.”


Salutica’s Initial Public Offering (“IPO”) involves a total offering of 101 million ordinary shares of RM0.10 each (“IPO Shares”), at an issue price of RM0.80 per share payable in full upon application comprising a public issue of 78 million new shares (“Issue Shares”) and an offer for sale of 23 million existing shares (“Offer Shares”) in the following manner:


• Public Issue of 78 million Issue Shares in the following manner;

 - 19.4 million Issue Shares made available for application by the Malaysian public;

 - 9.7 million Issue Shares made available for application by eligible directors and employees and business associates;

 - 10.1 million Issue Shares made available for application by way of private placement to institutional and identified investors; and

 - 38.8 million Issue Shares made available for application by way of private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry (“MITI”);


• Offer for Sale of 23 million Offer Shares made available for application by way of private placement to identified investors.


Through this Public Issue, Salutica aims to raise gross proceeds of RM62.4 million based on the IPO price of RM0.80 per share, of which approximately RM25 million will be utilised for the purchase of new machineries and equipment, and RM16.7 million will be utilised as working capital. A further RM8.2 million will be allocated for the expansion of the Company’s R&D department, which includes the expansion of facilities, equipment as well as workforce. The balance of RM8.5 million will be allocated for the repayment of bank borrowings, and a further RM4 million will be allocated to defray listing expenses.


“Looking ahead, Salutica will continue to focus on high value added Bluetooth products as we believe it remains a compelling market as well as being a technology that is entrenched in our daily lives. New applications of Bluetooth technology are being developed and introduced every now and then for use in wearables, home applications and even the healthcare industry just to name a few. Approximately 3.0 billion Bluetooth products were shipped worldwide in 2013, and this number is expected to reach 4.9 billion in 2018. Furthermore, with the advent of the Internet of Things (“IoT”), we will see an increased connectivity in our daily lives, and IoT is a concept which is already embodied in our FOBO products. These favourable conditions will hopefully continue to create new possibilities for Salutica to explore further growth and expansion,” James Lim said in closing.  


RHB Investment Bank Berhad is acting as the Principal Adviser, Sponsor, Underwriter and Placement Agent for this IPO.


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