OpenSys Made the Leap from ACE to Main Market

Financial services, telecommunications, and utilities solutions provider has successfully completed the transfer of listing from ACE Market to Main Market of Bursa Securities today.

OpenSys accomplished its transfer listing to the Main Market after adhering to all the listing criteria and receiving the relevant approvals.

“The transfer of listing validated the Group’s earnings track record and gave the Group greater access to the broader capital market to fund future growth plans and attract more institutional investors,” Chief Executive Officer, Mr. Eric Lim was quoted as saying after the press conference.

OpenSys’ strong track record in rolling out digitalisation solutions for reputable clients including financial institutions, telecommunications and utilities providers opened the pathway for the take-up of other innovative solutions. The group aimed to spur customers’ adoption of digitalisation and sustainable solutions, banking on its positive traction thus far.

“Our transfer listing to the Main Market is befitting for our expanding business, and we are eager to enter into a new chapter of growth. After helping our banking customers achieve efficiency and up to 30% savings through CRM, we hope to continue aiding their ongoing digitalisation drive by rolling out Smart TCR. We have onboarded three banks thus far and are in close discussions with four other banks to initiate pilot projects in the near future,” Eric Lim remarked.

“Implementing more of such projects for customers has a comprehensive multi-fold effect on OpenSys. While we recognise revenue in the hardware, software and services segments for the duration of implementation, we also add more machines in the maintenance pipeline, which extends our earnings visibility for a longer period. Therefore, the adoption of new digitalisation solutions such as Smart TCR would continue to spur our profitability going forward,” he elaborated.

“In addition, our solar segment through buySolar online marketplace has gained traction, with greater awareness of climate change. Year-to-date, buySolar has added four more solar providers and two banks to our online marketplace to have a total of 24 industry players, as we stay true to our mission of giving both corporate customers and households flexible choices for their unique requirements. We also aim to collaborate with partner banks to offer customers various solar financing packages with attractive rates to boost adoption,” he said.

“Smart TCR is an innovative machine that allow banking transactions to be conducted in open and interactive banking halls, as part OpenSys’ “Branch of the Future” branch transformation strategy. Smart TCR increases bank teller efficiency and productivity, allowing tellers to focus on more crucial tasks such as products and services advisory, and customer query assistance,” he concluded.

To recap, OpenSys was listed on the MESDAQ (now known as ACE Market) of Bursa Securities on 29 January 2004 and has since sustained resilient financial performance despite the challenging macroeconomic environment. This was underpinned by strong fundamentals given its robust capital, healthy liquidity, and a reputable client base.

Its strong fundamentals were shown by its ability to distribute dividends for the past 12 years without interruption, of which the Group has sustained quarterly dividends for the past 17 quarters.

The group has posted commendable 24.3% growth in revenue to RM35.6 million based on the unaudited 6-month financial period ended 30 June 2022 (1H2022) compared to RM28.6 million revenue in the corresponding financial period ended 30 June 2021 (1H2021), signalling the increasing earnings momentum in line with the robust economic activities.

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