Cloudpoint Technology an information technology solutions provider has inked an underwriting agreement with its sole underwriter, M&A Securities Sdn Bhd in preparation for its listing on the ACE Market of Bursa Malaysia Securities Berhad.
Founded in 2003, Cloudpoint and its subsidiary clients are mostly large enterprises, particularly in the financial services, insurance, telecommunications industries, and other technology service providers in Malaysia. As an IT solutions provider, the company offers a wide range of solutions from design, procurement, implementation, and support to after-sales maintenance, providing compelling value propositions for its current and prospective clients.
Executive Director cum Chief Executive Officer, Mr. Choong Wai Hoong said: “Our clients are mostly large enterprises with more than 80% of our revenue coming from financial institutions. Over the past few years, Cloudpoint has witnessed strong demand from the financial services sector as banks accelerate their digital transformation initiatives.
The signing of the underwriting agreement marks its journey toward the IPO, the company aims to use the fund raised for scaling its operations in the high-demand areas of cybersecurity, networking, cloud, and software solutions.
