Dubai PR Network, Online Press Release from Dubai and Middle East
Filter PR by
ARB to spin off its IoT Business via a listing on NASDAQ
? 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)
? Its IoT-business arm, ARB IoT Group Limited (“AIGL”) would enable the Group to unlock the value of its investment in the IoT business and efficiently allocate resources for its next phase of growth
? AIGL Group has built up an IoT development ecosystem to help customers seize opportunities brought by new digital technologies with 4 business lines in IoT segment.
? The proposed listing is expected to be completed tentatively by 4Q 2022, barring any unforeseen circumstances and is subject to all required approvals.

KUALA LUMPUR, MALAYSIA - Media OutReach - 12 August 2022 - Main Market-listed information technology (“IT”) software and platform provider ARB Berhad (“ARB” or “Group”) proposes to list ARB IOT Group Limited (“AIGL”), an indirect wholly-owned subsidiary of ARB Berhad on the NASDAQ Stock Exchange as a spin-off exercise of its IoT business arm (“Proposed Listing”).

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.

ARB Berhad Executive Director Dato' Sri Larry Liew Kok Leong (???????) said: “This 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.

Driven 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. “We intend to set up a regional hub for IoT technology in Singapore to support this initiative,” Dato' Sri Larry said.

“To 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.”

Dato' 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.

“It's 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,” Liew said.

He also pointed out that the AIGL's investor base could be widened through the participation of the global investing community, given the prominence of the NASDAQ Stock Exchange among global investors.

As 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.

AIGL 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.

The 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.

It 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.

Going forward, Dato' 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.

Barring 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 fourth quarter of 2022.
Hashtag: #ARB

The issuer is solely responsible for the content of this announcement.

About ARB Berhad

ARB Berhad (“ARB” or “Company”) is incorporated in Malaysia under the ACT in October 1997 and was listed on the Main Market of Bursa Malaysia Securities Berhad in February 2004.

The Company is primarily an IT software and platform provider company.

It's business operates predominantly in two (2) business areas:
1. Enterprise Resource Planning (“ERP”) – designing and reselling of customised ERP solutions
2. Internet of Things (“IoT”) – integrated solutions in the systems, engineering, procurement, commissioning, and management of IoT systems

Its expertise lies in empowering businesses through digital transformation and technology integration

ARB Berhad

Posted by : Media Outreach, Jenny
Viewed 0 times
PR Category : Others
Posted on : Saturday, August 13, 2022  9:41:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Email this article Print this article

Share this article with your friends and followers
Back to Media OutReach

Related Stories

Most Viewed Press Release posted in the last 7 days
Dubai Municipality Continues to Hold Discussions with Customers and Investors in the Emira... [5404-Views]
George Clooney and Hyun Bin Wear The OMEGA Speedmaster '57 [5371-Views]
Office Essentials With Catrice Cosmetics [5350-Views]
Introducing Moratti Jewellery [5027-Views]
Mohammed Bin Rashid Library Welcomes a Delegation from Mohammed Bin Rashid Space Centre [4830-Views]
Expo Centre Sharjah to Host International Jewellery Designers Forum [4649-Views]
Etihad Airways Rated One of the World's Most Punctual Airlines Amid Challenging Summer [4096-Views]
Danube Properties Launches My Dubai, My Home Campaign to Promote Home Acquisition and Life... [4043-Views]
Age in Reverse with Dr. Belmeur's New Total Youth Biome Range [3969-Views]
92% of Parents in the UAE Say that ‘play' is a Key Component in Helping Children Learn New... [3915-Views]
UAE ranked #1 Destination Across Middle East, Africa and Asia to Relocate for Expats, Reve... [3907-Views]
Discover What's Trending at The Home [3788-Views]
Etihad Rail Signs Memorandums of Understanding at Innotrans 2022 with Leading Internationa... [3743-Views]
Enjoy Terrace Dining, Tunes and Turkish Delights as Ruby Passion for Meat Gears Up for New... [3735-Views]
Portento Sofa by Natuzzi Editions – A Perfect Head-to-Toe Relaxation [3698-Views]
Sharjah Excellence Award Discusses Latest Developments for Upcoming Edition 2022 [3641-Views]
Savour Flavourful Mediterranean Cuisine and Celebrate Great Food at Majlis Al Sultan This ... [3440-Views]
Startup Sharjah Hackathon In Khorfakkan Equips 150 Youth With Business-building Skills [3374-Views]
The UAE Banks Federation Holds its Third CEOs Advisory Council meeting in 2022, with New M... [3366-Views]
Moving Towards A Greener Future With Sustainable Waterparks: How Are Waterpark Leaders in ... [3141-Views]
The Largest Showroom of Malabar Gold & Diamonds in Abu Dhabi to Open in Mazyad Mall [3112-Views]
Ladies Collection [3100-Views]
Your Signature Style with Pandora. [3087-Views]
Seatrade Maritime Event Returns to Dubai in 2023 [2981-Views]
Gold Price Hits a Two Year Low: Best Time to Invest in Gold [2964-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories