KUALA LUMPUR: Infomina Bhd recorded a net profit of RM4.73 million in the first quarter (Q1) ended Aug 31, 2022 on the back of a revenue of RM41.94 million.

In a filing to Bursa Malaysia today, the technology solutions provider said this was the the first interim financial report  in compliance with the listing requirements of Bursa Malaysia.

The company is scheduled to be listed on the ACE Market on Nov 25.

Hence, there were no comparative figures for the preceding corresponding quarter and year-to-date.

In a separate statement, the company said revenue for the quarter was mainly contributed by the its technology infrastructure operations, maintenance, and support services segment which made up RM29.5 million or 70.3 per cent of total revenue.

This segment mainly consists of revenue recognised from the company's contract for the provision of core banking applications for financial services institutions in the Philippines and Thailand.

Managing director Yee Chee Meng said this was a commendable set of results to kickstart the financial year and its journey as a listed company.

"Looking ahead, our performance will be driven by an outstanding orderbook of about RM443.6 million comprising of a well-diversified portfolio of over 60 active clients across multiple industries and geographical locations including Malaysia, Singapore, Thailand, the Philippines, Indonesia, Hong Kong, China and Taiwan," he said.

Meanwhile, Infomina said its initial public offering (IPO) would raise up to RM32.47 million via a public issue of 81.17 million new shares at 40 sen each.

It said RM13.96 million or 43 per cent of the proceeds would be used for working capital and RM7.60 million or 23.4 per cent to strengthen research and development (R&D) capabilities.

In addition, RM5.53 million or 17 per cent will be put towards regional expansion while RM0.89 million or 2.7 per cent will be used for branding, marketing and promotional activities.

The remaining RM4.5 million or 13.9 per cent will be to defray listing expenses.

M & A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent, while Newfields Advisors Sdn Bhd is the financial adviser for Infomina's IPO.