By Sharen Kaur
sharen@nstp.com.my
Published in NST on February 14, 2012
GPRO is the second ACE Market-listed loss-making company that Heilesen bought into in less than two months, after DVM Technology Bhd.
Heilesen, the founder of Funmobile Holding Ltd, a Hong Kong-based mobile content developer, has been appointed as a GPRO executive director.
It is learnt that Heilesen is targeting new markets for the company, such as the northern African sub-continent.
"GPRO will be exploring opportunities in Morocco and Tunisia to develop IT solutions for the apparel manufacturers there.
"It's a niche product and the market for it is growing," the source said.
GPRO executive chairman Jordan Tang Tiong Seng declined to comment when contacted.
He, however, did say the new shareholder would inject fresh ideas into the company.
"The new shareholder may also inject new businesses but there is no firm plan yet," Tang said.
GPRO expects to raise up to RM25 million from its fund-raising exercise in anticipation of new businesses in Malaysia, Vietnam, Indonesia and China.
"The company is expected to do better this year. It's definitely in the uptrend," the source said.
For the third quarter ended September 30, 2011, GPRO posted a net profit of RM389,000 on revenues of RM1.9 million.
This was mainly attributed to the sales of its software development tool, Arora, and software licences for Shopfloor Data Tracking.
The source said GPRO was optimistic of its long-term prospects as the global garment industry had remained stable.
sharen@nstp.com.my
Published in NST on February 14, 2012
THE new shareholder of GPRO Technologies Bhd is toying with several ideas to grow the company, including injecting new IT businesses to return it to profitability, sources close to the company said.
GPRO, which develops IT solutions for textile and apparel manufacturers, has been in the red since 2005.
Christian Kwok-Leun Yau Heilesen emerged as a substantial shareholder of GPRO after raising his stake to 24.89 per cent on October 15, 2011 from 15.29 per cent on September 12, 2011.
The stock gained 15 sen, or nearly 160 per cent, after Heilesen bought into GPRO, whose market capitalisation was only RM20 million at end-August last year.
GPRO, which develops IT solutions for textile and apparel manufacturers, has been in the red since 2005.
Christian Kwok-Leun Yau Heilesen emerged as a substantial shareholder of GPRO after raising his stake to 24.89 per cent on October 15, 2011 from 15.29 per cent on September 12, 2011.
The stock gained 15 sen, or nearly 160 per cent, after Heilesen bought into GPRO, whose market capitalisation was only RM20 million at end-August last year.
GPRO is the second ACE Market-listed loss-making company that Heilesen bought into in less than two months, after DVM Technology Bhd.
Heilesen, the founder of Funmobile Holding Ltd, a Hong Kong-based mobile content developer, has been appointed as a GPRO executive director.
It is learnt that Heilesen is targeting new markets for the company, such as the northern African sub-continent.
"GPRO will be exploring opportunities in Morocco and Tunisia to develop IT solutions for the apparel manufacturers there.
"It's a niche product and the market for it is growing," the source said.
GPRO executive chairman Jordan Tang Tiong Seng declined to comment when contacted.
He, however, did say the new shareholder would inject fresh ideas into the company.
"The new shareholder may also inject new businesses but there is no firm plan yet," Tang said.
GPRO expects to raise up to RM25 million from its fund-raising exercise in anticipation of new businesses in Malaysia, Vietnam, Indonesia and China.
"The company is expected to do better this year. It's definitely in the uptrend," the source said.
For the third quarter ended September 30, 2011, GPRO posted a net profit of RM389,000 on revenues of RM1.9 million.
This was mainly attributed to the sales of its software development tool, Arora, and software licences for Shopfloor Data Tracking.
The source said GPRO was optimistic of its long-term prospects as the global garment industry had remained stable.
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