It could be seeing some corporate changes. Industry sources said businessman Yeoh Eng Kong, together with some parties, might have been accumulating Opensys shares from the open market.
Why Yeoh would want to take control of Opensys, which makes software for the financial industry, remains unclear at the moment but he is likely to start negotiations with the owners of the company once he accumulates enough shares.
While industry observers are not ruling out a hostile takeover of Opensys by Yeoh, they said he might sell off the shares if talks with the owners fell through.
Yeoh, who is said to be an ex-lawyer, last made news when he emerged as a substantial shareholder in Dis Technology Holdings Bhd (DisTech). He was previously a substantial shareholder in the now-delisted spirulina production company Liqua Health Corp Bhd. He was also a shareholder in technology firm Viztel Solutions Bhd, which has since had its listing status taken over by Systech Bhd.
The single-largest shareholder in Opensys now is chief executive officer Tan Kee Chung, who owns a 15.91% stake. Khazanah Nasional Bhd had disposed of 21.5 million shares, or 10% of Opensys’ paid-up capital, on Dec 12 2012 at 11.5 sen apiece.
In its most recent quarter, Opensys posted a net profit of RM620,000, which was 64% higher than the RM379,000 made in the same quarter a year earlier. Revenue for the period totalled RM6.5mil against RM6.7mil a year ago.
Opensys pioneered the design and development of a class of non-cash dispensing self-service kiosks called Efficient Service Machines (ESM) that accept deposits and payments using cash, cheques, credit and debit cards. ESMs allowed banks, insurance and utility companies as well as government agencies to improve customer service, extend market reach and reduce operational cost.
Why Yeoh would want to take control of Opensys, which makes software for the financial industry, remains unclear at the moment but he is likely to start negotiations with the owners of the company once he accumulates enough shares.
While industry observers are not ruling out a hostile takeover of Opensys by Yeoh, they said he might sell off the shares if talks with the owners fell through.
Yeoh, who is said to be an ex-lawyer, last made news when he emerged as a substantial shareholder in Dis Technology Holdings Bhd (DisTech). He was previously a substantial shareholder in the now-delisted spirulina production company Liqua Health Corp Bhd. He was also a shareholder in technology firm Viztel Solutions Bhd, which has since had its listing status taken over by Systech Bhd.
The single-largest shareholder in Opensys now is chief executive officer Tan Kee Chung, who owns a 15.91% stake. Khazanah Nasional Bhd had disposed of 21.5 million shares, or 10% of Opensys’ paid-up capital, on Dec 12 2012 at 11.5 sen apiece.
In its most recent quarter, Opensys posted a net profit of RM620,000, which was 64% higher than the RM379,000 made in the same quarter a year earlier. Revenue for the period totalled RM6.5mil against RM6.7mil a year ago.
Opensys pioneered the design and development of a class of non-cash dispensing self-service kiosks called Efficient Service Machines (ESM) that accept deposits and payments using cash, cheques, credit and debit cards. ESMs allowed banks, insurance and utility companies as well as government agencies to improve customer service, extend market reach and reduce operational cost.
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