Vivocom thanks Bursa Malaysia, expresses profound appreciation to shareholders

KUALA LUMPUR, MALAYSIA – Media OutReach – 15 February 2021 – Vivocom Int’l Holdings Berhad (‘Vivocom’) has expressed its ‘appreciation’ to Bursa Malaysia Securities Berhad for its approval of the multiple proposals submitted in on 30th   December 2020, a corporate move that would usher in an exciting period for as well as strengthening the overall corporate structure of Vivocom.

 

Vivocom CEO Dato Seri Chia Kok Teong believes that Vivocom shares will grow strongly over time and will be worth a lot more than the pre-Chinese New Year price of 89 sen.

CEO Dato Seri Chia Kok Teong praised Bursa for its constant efforts to create a vibrant equity market, and personally attested to the exchange’s pledge of ‘creating opportunities, growing value’ as “one that’s real and more than just a tagline”.

“Like many other companies, Vivocom is indeed grateful to Bursa’s for its continuous efforts in fostering a conducive capital market for its members to grow and create wealth for the nation,” said Dato Seri Chia.

“We had submitted our proposals in December 2020, and Bursa had reverted promptly and approved them; an impressive turnaround time. Accordingly, Vivocom is now ready to begin its journey of transforming itself, as an Investment Holding company.”

Last Thursday, Vivocom had announced that Bursa had approved the various proposals submitted which can be read here or the link in full: https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3128515 .

Dato’ Seri Chia also expressed his profound gratitude to all shareholders for having supported the company and is looking towards stronger support to continue into the long term.

“My Board and Management team are totally committed to building Vivocom into a reputable public company, with sound and sustainable fundamentals of solid profits and healthy cashflow,” he said.

“We are very focussed on transforming Vivocom into a behemoth Conglomerate, via organic or inorganic growth, including expansive M&A (merger and acquisition) activities which may result in us acquiring strategic stakes in other Public Listed Companies for investment holding purposes,” Dato Seri explained.

“We shall always act in Shareholders’ best interests and, as a priority, would work towards getting Vivocom elevated to the Main Board of Bursa soonest possible,” he added.

“We will also do our utmost to maximise Vivocom’s earnings in the coming years in order to reward our shareholders with a handsome dividend pay-out at the earliest opportunity,” Dato Seri continued.

To show his dedication, Dato Seri Chia has committed to a voluntary self–imposed moratorium (or SIM) in that he will not dispose of his personal stakes in Vivocom for the next 3 years.

“I am strongly focussed on ‘building the Vivocom legacy’ while creating wealth for all shareholders of Vivocom for the long term,” he promised.

“My SIM means that I won’t be cashing in on my personal stakes in the immediate term or at least for the next 3 years. I’m supremely confident of maximising the wealth of Vivocom in the long run.

“In other words, I believe Vivocom shares will grow strongly over time and will be worth a lot more than the pre-Chinese New Year price of 89 sen,” concluded Dato Seri Chia.


Bursa: Investors may cash in today

The Malaysia stock market has moved higher in three straight sessions, gathering almost 20 points or 1 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,825-point plateau, although investors may cash in today, said RTTnews.

The KLCI finished slightly higher on Monday following gains from the financial shares and the plantation stocks.

For the day, the index added 3.24 points or 0.18 percent to finish at 1,825.91 after trading between 1,824.56 and 1,827.85. Volume was 5.4 billion shares worth 3.3 billion ringgit. There were 685 decliners and 378 gainers.

Among the actives:

IJM Corporation plummeted 4.38 percent

Genting Malaysia spiked 2.01 percent

YTL Corporation soared 1.35 percent

Petronas Chemicals jumped 1.24 percent

Astro Malaysia Holdings tumbled 1.12 percent

Digi.com climbed 1.06 percent

Telekom Malaysia shed 0.83 percent

IHH Healthcare gained 0.68 percent

Sime Darby added 0.74 percent

Tenaga Nasional picked up 0.25 percent

CIMB Group collected 0.15 percent

IOI Corporation, Axiata, Maybank and Public Bank all were unchanged.