FOLLOWING his voluntary self-imposed moratorium in November last year, Vivocom International Holdings Bhd’s head honcho shared his vision of transforming the ACE Market company into a multi-billion group within the next few years.
Group CEO Datuk Seri Chia Kok Teong said his latest quest is the acquisition of companies with game-changing and disruptive strategies in their businesses to add to or help transform Vivocom’s business models.
“We must adapt to a constantly changing or digitalised world and look at new and different ways of doing business better going forward,” he pointed out.
“We are also looking at businesses (with proven track record) within the renewable energy and digital technologies segments. These two segments would add to our existing businesses.”
In an announcement to Bursa Malaysia on Nov 4 last year, Vivocom announced that Chia had committed to not selling his personal stakes within the company in the open market for the next three years.
Chia, who is also Vivocom’s single largest shareholder, went on to explain that the main purpose of his SIM is to instil confidence in the public of his long-term vision and plans of transforming Vivocom into a “formidable and profitable force”.
Delving further on his future plans, Chia said the Vivocom group is also constantly looking for exciting businesses that are pioneers in its respective markets with “explosive growth potential and super abnormal earnings”.
In this regard, he explained that Vivocom aspires to find the “next Grab, Netflix or Tesla”.
“The company is studying all avenues for ‘blockbuster’ growth, both organic and inorganic, and this may even lead us to acquiring strategic stakes in other public listed companies for investment holding purposes,” he enthused.
“We have already begun to explore several such initiatives. Our goal is to transform our earning capabilities dramatically.”
Ultimately, Chia emphasised that the company seeks stable and strong share price so that Vivocom can use its shares as a currency to pursue strategic merger and acquisition (M&A) activities as part of its future growth strategies.
In early November last year, Vivocom completed its share consolidation exercise under which every 10 shares and 10 warrants were consolidated into one share and one warrant respectively.
At 12 noon, Vivocom was up 1.5 sen or 1.6% to 95 sen with 18.39 million shares traded, thus valuing the company at RM544 mil. – Feb 22, 2021