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Anita Cheung / Flora Ng / Joan Wong
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(Hong Kong, September 11, 2000) - PUC Founder (MSC) Sdn Bhd ("Founder (MSC)" or the "Company"), an associated company of Founder Holdings Limited, ("Founder" or the "Group") (stock code: 418) a leading electronic publishing systems (EPS) and IT systems integration service provider, held a signing ceremony in Malaysia to appoint K & N Kenanga Bhd as sponsor for its listing on the Malaysian Exchange of Securities Dealing and Automated Quotation Bhd. ("MESDAQ") in 2001.
The sponsorship signing ceremony held today in Kuala Lumpur, Malaysia, was witnessed by Y. B. Dato' Kerk Choo Teng, Deputy Minister of the Ministry of International Trade & Industry, Mr Guan Deng Ming, China's ambassador in Malaysia, Professor Wang Xuan, Chairman of Founder and Mr Cheung Shuen Lung, President of Founder.
Professor Wang Xuan, Chairman of Founder and one of the International Advisory Panel members to the Multimedia Super Corridor ("MSC"), said in the ceremony, "We are proud to announce that Founder (MSC), our first overseas operation has taken its first steps towards an initial public offering. By 2001, we hope that the Group will have one more listed member."
"Today, marks a major milestone for us," said Mr Teh Hon Seng, Managing Director of Founder (MSC). "It signifies a key turning point and an exciting new chapter in our corporate history," continued Mr Teh. "Under the local management and continued support from the Group, has registered strong growth despite the recent economic turmoils, and is expected to register another year of profit during the current financial year."
Founder (MSC) intends to raise up to RM15 million from the proposed initial public offering to invest in fingerprint and e-commerce product research and development and for working capital.
"This remarkable move, to the best of my knowledge, is the first corporation with Chinese investment being listed in Malaysia. We are proud to have this achievement," Professor Wang added.
"It is a pleasure to witness this memorable event for the Malaysian business community. The success of Founder (MSC) is a remarkable example for Malaysia investment climate, especially for those involved in MSC. This move has tremendous significance for China and Malaysia. We thus look forward to enhancing closer bilateral, trade and economic ties," said Mr Y.B. Dato' Kerk Choo Teng, Deputy Minister of Ministry of International Trade & Industry.
As China and Malaysia are important partners, their development reaffirms the cultural and commercial relationship between the two countries. The listing of a technology related company with Chinese investment on MESDAQ is an enhancement of the technology and business co-operation between the two countries.
"The proposed public issue of Founder (MSC) in MESDAQ will provide local investors to participate in this company. This shows not only the confidence of the business community on the equity markets, but also to strengthen our position in the global economy and well balanced economic growth through the sharing of such investment opportunities," Mr Kerk explained.
Founder (MSC) has captured a market share of over 70% in the Chinese newspaper publishing market in Malaysia. Building on this success, Founder (MSC) has started exploring the biometrics and IT solutions markets. Recently, the Company has developed the Founder E-Biz e-commerce solution which has received a good market response. On the other hand, the Company is developing the Founder FingerTec Fingerprint Identification System and the FingerTec products will be marketed worldwide next year.
Founder (MSC), in view of its marketing successes, is well recognised in the local community. It was one of the first companies to achieve the Multimedia Super Corridor (MSC) prestigious status in 1997 and the first MSC companies to attain ISO9001 certification in 1998. In 2000, a grant of RM850,000 was received from the government under the Multi-media Super Corridor Research and Development Grant Scheme (MGS) to conduct research and development of the Finger Identification System.
About Founder Holdings Limited
Founder Holdings Limited (the "Group") has been listed on the Hong Kong Stock Exchange since December 1995. The Group is principally engaged in software development and systems integration, for the publishing and banking industries in particular, and is also engaged in the distribution of computers and related products. Apart from the Company's operations in the PRC and Hong Kong, the Group has subsidiaries in Japan, Malaysia, Taiwan, Canada and has distribution networks in Macau, Taiwan and South Korea.
About PUC Founder (MSC) Sdn Bhd
PUC Founder (MSC) Sdn Bhd (the "Company") was incorporated on 3 November 1997 in Malaysia and is currently a 49% associated company of Founder Holdings Limited. The Company's principal activities include the design, development and commercialisation of biometrics using fingerprint recognition technology, the provision of one-stop IT solutions to the Chinese publishing industry, as well as software development and systems integration for companies engaging in e-commerce and Internet related businesses. The Company is currently the leading solutions provider in Malaysia for Chinese electronic publishing systems.
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