Kuala Lumpur, 22 July 2013- Cuscapi Berhad (Cuscapi) has obtained Securities Commission approval for the transfer of its current listing at the ACE market to Bursa Malaysia’s main board.
Its Chief Executive Officer, Her Chor Siong expects the transfer to be completed on Bursa Malaysia’s main board by August 2013.
Cuscapi has become Asia’s leading Food & Beverage (F&B) solution system and managed service provider, and currently has 5 direct offices in the ASEAN region with 4 direct offices in China.
“Our revenue has been growing steadily for the past five years with almost RM59 million recorded for 2012 and we are expecting this positive trend to continue beyond 2013.”
“Our current international expansion program which also covers China has provided 50 percent of the group’s revenue for Q1 of 2013. Currently China is our single largest international market and to support Cuscapi’s China drive, we are setting up two more customer contact centres in Shanghai and Guangzhou to support our customers,” said Her.
To finance such plans, in a recent exercise, Cuscapi has just completed its rights issue with a RM29.5 million war chest to cover the expansion program.
On another note, Cuscapi will be looking towards other markets as its next growth area. India, with a population of 1.27 billion people and half of them below the age 25, would be the next point of growth for Cuscapi. Currently Cuscapi is supporting 87 stores in India under various brands utilizing its Transight (POS) Point of Sales System.