Tan Sri Lim Wee Chai, apart from his private investment in MINDA, has made investments in several listed companies on Bursa Malaysia.
Notable among these are LBS Bina Group Berhad (LBS, MYX:5789) and Tropicana Corporation Berhad (TROP, MYX:5401).
He acquired 150.09 million shares, representing 10.24% of TROP, in October 2017.
His shareholding later increased to 162.21 million shares, or 11.07%, due to factors like dividend reinvestment and the company’s scrip dividend, making him the second-largest shareholder after the executive vice chairman. In October 2017, he was appointed as the non-independent non-executive vice chairman of TROP, transitioning to non-independent non-executive chairman in January 2019.
In March 2020, Tan Sri Lim became TROP’s largest shareholder after acquiring an additional 131.31 million shares, equating to 6.81% equity in the company.
While we may not be able to participate significantly in the private investments made by Tan Sri Lim, there exists a potential opportunity for involvement in a technology-related company set to be listed via an Initial Public Offering (IPO) in Q3-2021, named Ramssol Group Berhad.
Ramssol - Basic Info
Official website of Ramssol Group: https://www.ramssolgroup.com/
IPO Price per Share: Unknown
IPO Listing Date: Unknown, but expected around July/August 2021
Ramssol Group Berhad (or Ramssol) stands as one of ASEAN's leading Human Resources Information Management Service Groups and Human Capital Management (HCM) Solutions providers, also acting as a reseller of related technology applications for large corporations and educational institutions.
The upcoming Ramssol IPO is poised to be the next technology-sector IPO on Bursa Malaysia’s Ace Market, following the listing of Tuju Setia in the Main Market around May 2021. It will also be the latest technology-sector company IPO since the listing of Samaiden Group Berhad (SAMAIDEN, MYX:0223) in October 2020.
Ramssol - History & Milestones
The roots of Ramssol Group Berhad trace back to 10 August 2010, when Rams Malaysia was incorporated by Cllement Tan Chee Seng (CEO), Lee Miew Lan (COO), and a business partner who sold his shares in 2011. They focused on HCM and student management solutions using Oracle Corp's software.
Prior to Rams Malaysia's incorporation, both Cllement Tan and Lee Miew Lan had considerable experience in providing HCM solutions, with 4 years and 12 years, respectively. By 2021, they boasted over 14 and 22 years of experience in their fields.
They established their reputations through proven success in HCM solutions, maintaining strong relationships with industry stakeholders, including software vendors. Shortly after Rams Malaysia's inception, Rams Singapore was founded on 23 September 2010. In 2011, they began their first project for CapitaLand Limited in Singapore, marking the commencement of their business.
Over the years, Ramssol participated in numerous HCM solution projects for CapitaLand’s subsidiaries across various countries, including China, Japan, India, Australia, and New Zealand. They also expanded their services to CapitaLand in 2011, providing IT staff augmentation.
HCM solutions Expansion of business to Vietnam
In 2013, Rams Malaysia and Rams Singapore became registered partners of Oracle Corp, allowing them to sell HCM software licenses and directly implement HCM solutions for end-users. Their first direct project with CapitaLand was also secured during this time.
In 2013, Ramssol expanded into Vietnam by incorporating Rams Vietnam on 30 March, serving as a support center for customers in Singapore. This function was later centralized in Rams Malaysia in 2017. The company secured its first Vietnamese project in 2015, offering consulting services to Harvey Nash Vietnam Co., Ltd.
Growth of HCM solutions business in Malaysia
In 2014, Ramssol won its first project in Malaysia, consulting for RHB Bank Berhad on migrating its HR functions to a new HCM system using Oracle Corp's software. That same year, they were also appointed by Oracle Malaysia to consult on student management solutions for Multimedia University and other educational institutions.
Reaching HCM solutions business to Thailand
The following year, Ramssol established its presence in Thailand by incorporating Rams Thailand on 13 February 2015 and secured its first local HCM solution project in 2017.
Recognizing the importance of employee engagement, Ramssol initiated R&D on an employee engagement mobile application in collaboration with a professor from UMCH Technology Sdn Bhd in 2017. Their app, Feet’s, was launched in 2019 under Feets Malaysia.
HCM business to Indonesia
In December 2018, Ramssol entered Indonesia by securing a project with CV Surya Mandiri. They subsequently incorporated Rams Indonesia and Feet’s Indonesia on 10 January 2019 to establish a business presence there.
Ramssol's investment holding company
On 10 January 2019, Ramssol Group Sdn Bhd was incorporated as an investment holding company and became a public company on 22 September 2020, paving the way for its listing on the ACE Market of Bursa Securities.
In February 2020, Ramssol signed a Lark Partner Network Agreement with Lark Technologies Pte Ltd, becoming a reseller for Lark in the Asia Pacific region, further enhancing its HCM offerings. This addition is anticipated to bolster Ramssol's revenue streams and reinforce its position as an HCM solutions and technology specialist.
Conclusion
I have outlined a timeline illustrating Ramssol' s development over the past decade with the information provided above.
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