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Jusco plans to open more outlets in Klang Valley, BUSINESS TIMES

Posted on: Monday, 5 January 2004, 06:00 CST

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Emerging Markets DatafileJanuary 03, 2004

BUSINESS TIMES

MALAYSIA

ENGLISH

Jusco plans to open more outlets in Klang Valley, BUSINESS TIMES

ASIA

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LOCAL communications solutions provider DVM Technology Bhd (DVM) expects its net profit to grow 20 per cent this year. It recorded a profit- after-tax of RM3.1 million for the year ended September 30 2003 on a RM59 million revenue.

The shares of the company were traded for the first time on the Mesdaq Market of the Kuala Lumpur Stock Exchange yesterday. The shares ended the day with a 24- sen premium over the issue price of 40 sen a piece, with 36.05 million shares traded.

``With over RM100 million worth of projects in the pipeline, we are confident of achieving the targeted results,'' executive director Chen Chee Peng said after the company's listing ceremony in Kuala Lumpur yesterday.

He said most of these projects are telecommunications-related, including the development of hardware and software applications.

DVM is involved in the providing of specialised system integration solutions, development of open sourced software, development of next generation communications software applications and other related services.

``Telecommunications companies (telcos) will be spending again on infrastructure expansion and new technology such as converge network and services in the next five years,'' Chen said.

He added that DVM is well-positioned to capitalise on the expected new technology growth and spending.

DVM had in the past five years worked on projects for telcos like Telekom Cellular, Cordoda, DiGi Telecommunications, Maxis Mobile, Sing Tel, Mobile One and DataOne.

``We are one of the pioneers in developing the next generation communications software applications, and also the first company to offer these applications here commercially,'' said Chen.

The company plans to launch Genico - a next generation communications software application in the first quarter this year.

Chen said the Genico software, which provides value-add services in terms of call screening and call routing on the Internet Protocol-based network, will help businesses to save on communications costs and gain new market share.

``Genico is locally developed with support from our technology partner Hewlett-Packard, which give us the edge on pricing,'' Chen said.

DVM is also planning to enter other Association of South-East Asian Nations (Asean) markets after making a presence in Thailand through its local partner Datamat Public Co Ltd.

``Our next Asean target will be Vietnam as the telecommunications sector there is still in the infancy stage, so there are a lot of opportunities for us,'' he said.''We will enter there possibly via a joint- venture arrangement.''

Copyright 2004 BUSINESS TIMES all rights reserved as distributed by WorldSources, Inc.

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