PAUL YAP, Radiant Globaltech Bhd managing director
ACE Market listing expected to enhance firm’s profile, raise funds for expansion
“As the Malaysian retail market is expected to grow and our regional markets are expanding quickly, we need to grow fast to capture the opportunities.”
RADIANT Globaltech Bhd, which will be listed on the ACE Market tomorrow, expects the retail technology solutions industry to grow at a faster rate in the second half of the year.
Managing director Paul Yap said this was in light of the abolition of the Goods and Services Tax and better consumer sentiment.
He said the company had conducted a study on industry growth.
According to the study, the retail landscape is in a new growth phase, mainly due to a change in consumer behaviour.
Customers and suppliers now want seamless transactions, efficiency and transparency in their operations, he added.
“As the Malaysian retail market is expected to grow and our regional markets are expanding quickly, we need to grow fast to capture the opportunities.”
Yap said the listing would enhance the company’s profile and raise funds for expansion.
He said Radiant Globaltech had allocated RM11.6 million to expand its Malaysian and Vietnamese businesses.
“We are also targeting to penetrate Indonesia in the near term.”
Radiant Globaltech has also allocated RM3 million for the expansion of its retail management software business.
“We will leverage our large base of hardware customers to cross-sell software products. Being a listed entity will help us secure more customers for our retail management software.”
Yap said the company also aims to attract different types of customers in the retail industry.
“We are targeting to expand into shopping centre, airport and utility retailing.”
With the expansion, he said the company would be able to diversify its revenue stream.