KUALA LUMPUR: Integrated tracking solutions provider Grand-Flo Solution Bhd’s Thai subsidiary Simat Technologies Public Co Ltd has received the Thai stock exchange’s approval to list on the Market for Alternative Investment there.
Grand-Flo said yesterday Simat’s investment bankers had started preparing the prospectus. The official letter from the Thai Securities and Exchange Commission is expected next month.
Grand-Flo managing director Derrick Tan said Simat was able to leverage on the parent’s expertise and support system to become the market leader in Thailand.
Recently, Simat clinched a RM10 million contract from a multinational retail chain to equip all the outlets in Thailand by year-end.
It also secured the mandate to equip the chain’s additional outlets for about RM10.1 million.
Grand-Flo deals in enterprise data collation and collection system to track the assets and sales force and it has secured RM9 million new contracts in Malaysia and Thailand from customers in healthcare, retails and logistics.