INIX TECHNOLOGIES
Holdings Bhd, a home and office security systems maker, may see a new
substantial shareholder coming on board over the next few months.
According to a market source, a European-based technology company may
be keen to buy a significant stake in Inix as part of the company's plan to
expand into this region. It was also speculated that the acquisition may
involve the European company acquiring stakes from Deutsche Bank AG as well as
from the open market.
Once the acquisition is made, the European company may inject new
business or product line into Inix.
The source, however, said that the European company currently produces
a digital equipment that, once connected to a television set, allows consumers
to surf the net, watch live shows, watch movies both online or offline, listen
to music, browse their photo library, among others.
To recap, Deutsche Bank became a
substantial shareholder in the company after buying 7.21 million Inix shares or
a 5.7 per cent stake, on August 2 2012. However, the German lender ceased to be
a substantial shareholder after it sold two million shares five days later. It
is unsure if the lender still have stakes in Inix.
Deutsche Bank's acquisition came
about a month after Citigroup Global Market ceased to be a substantial
shareholder when it disposed a 2.54 per cent stake in Inix.
Inix produces intelligent wireless security, automation and closed
circuit television surveillance systems for home and business use.
For the nine months ended April 30, 2012, the company posted a revenue
gain of 4.5 per cent to RM3.35 million, versus RM3.21 million revenue same
period a year ago. Nine- month net profit was RM77,000, compared to the
RM229,000 net loss in same period last year.
Currently, Inix executive director and chief executive officer Azman
Hussin has a 24 per cent indirect stake in the company, via Encoral Digital
Solutions Sdn Bhd.
Encoral is an information and communication technology solutions
provider co-founded by Azman.
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