AIGL provides a wide range of IoT system services, such as system integration and system support service. A filing with Bursa Malaysia today shows that the Proposed Listing will unlock the value of its investment in the IoT business and efficiently allocate resources to accelerate the expansion and growth of its IoT business.<\/span><\/p>\nARB Berhad Executive Director Dato\u2019 Sri Larry Liew Kok Leong (<\/span><\/b>\u62ff\u7763\u65af\u91cc\u5218\u56fd\u826f<\/span><\/b>)<\/span><\/b> said: \u201cThis Proposed Listing will be a new milestone for the Group. AIGL has a robust growth prospect given the evolving demand for new technology trends such as Artificial Intelligence (AI), cloud computing, robotic process automation, Internet-of-Things (IoTs) and hyper-connectivity, which continues to gain momentum.<\/span>\n<\/p>\nDriven by favourable factors such as rapid urbanisation, a proliferation of technology and mobile devices and a shift from traditional agriculture to IoT agriculture in ASEAN countries, AIGL aims to be one of the top IoT players in the ASEAN region, particularly in agriculture, property development and logistics industries. \u201cWe intend to
\n set up a regional hub<\/b> for IoT technology in Singapore to support this initiative,\u201d Dato\u2019 Sri Larry said.<\/span>\n<\/p>\n\u201cTo remain competitive in this fast-paced and ever-evolving industry, we need to invest strongly in the business operation, strategic acquisition and our research & development activities. The spin-off of our IoT business through a listing on the US NASDAQ Stock Exchange will help to provide us with the funding to pursue these expansion and growth opportunities.\u201d<\/span>\n<\/p>\nDato\u2019 Sri Liew also added that a successful listing of AIGL on the NASDAQ Stock Exchange will allow the Group to gain better recognition as a separate listing status, enhancing its corporate reputation, business profile and visibility which in turn will enable it to achieve greater market penetration.<\/span>\n<\/p>\n\u201cIt\u2019s not just financial flexibility that we are looking at with the listing of AIGL. As a standalone entity, AIGL will achieve greater market penetration and a wider customer base,\u201d Liew said.<\/span>\n<\/p>\nHe also pointed out that the AIGL\u2019s investor base could be widened through the participation of the global investing community, given the prominence of the NASDAQ Stock Exchange among global investors.<\/span>\n<\/p>\nAs for ARB, it would unlock the value of its investment through the share offering exercise under the Proposed Listing, thus enhancing the value for its shareholders.<\/span>\n<\/p>\nAIGL expects to continue to deliver profitable growth, generate robust cash flow, and return capital to shareholders while maintaining a strong balance sheet. The Company will continue to prioritise opportunities by collaborating with the potential M&A targets to expand its geographical presence by taking advantage of cross-border business opportunities from 2022 onwards.<\/span>\n<\/p>\nThe filing with Bursa also shows that AIGL has built up an IoT development ecosystem to help customers address the challenges and opportunities of new digital technologies. Accordingly, AIGL Group has been organised into 4 business lines: IoT Smart Home & Building, IoT Smart Agriculture, IoT System Development, and IoT Gadget Distribution<\/b>.<\/span>\n<\/p>\nIt added that the proposed utilisations of the proceed from the listing of AIGL on the NASDAQ Stock Exchange will be for the strategic acquisitions and investment activities of the Group, working capital and general corporate purposes, estimated listing expenses and research & development activities.<\/span>\n<\/p>\nGoing forward, Dato\u2019 Sri Liew shared that the Group is in a good position to expand its business regionally and will accelerate the expansion of its IoT business by gaining new market share. Aside from that, AIGL will expand its customer base by growing its direct sales force and regional sales channels in new markets. The Company will also push towards operational improvement to drive earnings growth, expand margin and improve cashflow.<\/span>\n<\/p>\nBarring any unforeseen circumstances and subject to all the required approvals being obtained, the Board of ARB expects the proposed listing of AIGL on the NASDAQ Stock Exchange to be completed by the
\n fourth quarter of 2022<\/b>.<\/span>
\n<\/p>\nHashtag: <\/b>#ARB<\/p>\n
\n The issuer is solely responsible for the content of this announcement.<\/em>\n <\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"\u25cf The listing aims to accelerate the expansion and growth of its IoT business, raising a minimum gross proceeds of USD4 million (based on the issue price of at least USD4 per issue share) \u25cf Its IoT-business arm, ARB IoT Group Limited (\u201cAIGL\u201d) would enable the Group to unlock the value of its investment in …<\/p>\n","protected":false},"author":1,"featured_media":25097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/25096"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=25096"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/25096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/25097"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=25096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=25096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=25096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}