- Next ECF return for Ata Plus after 2019 return of Skilafund
- US$ 15m merger consists of US$ 4.2m money &, US$ 11.6m in stock
Bursa Malaysia has granted the approval to Systech Bhd, a company listed on the ACE Market, to acquire Wilstech Sdn Bhd, for a total purchase consideration of US$ 15.82 million ( RM75 million ) consisting of RM20 million in cash and RM55 million via the issuance of 152, 777, 777 Systech shares. Wilstech, an IT solutions provider, raised UD$ 316, 400 ( RM1.5 million ) through an equity crowdfunding (ECF ) campaign with Ata Plus Sdn Bhd in Sept 2020 at a RM25 million valuation.
Ata Plus applauds the merger as a testament to the utility of ECF as a viable investment platform for businesses with high-growth potential. This is the second Ata Plus ECF leave. The second return in 2019 was a corporate merger of Skolafund, a societal impact business.
]RM1 = US$ 0.211]
” Since 2020, I’m proud to say that we have grown from strength to strength. ECF funding “undoubtedly played a significant role in our development trip,” according to Wilson Low, founder and CEO of Wilstech, “particularly in our product development, business growth, and consumer acquisition.”
Nowadays, Wilstech specialises in business- to- business ( B2B ) IT options, IT infrastructure, IT management and offshoring and the offer of IT equipment. Its users span across the open market, GLCs, corporates and SMEs.
Since its ECF investment practice, Wilstech has experienced remarkable growth in both revenue and profit. The yr- on- time revenue growth for 2020/21 and 2021/22 are 146 % and 167 % between, whilst the Income- After- Duty is 113 % and 199 % both for 2020/21 and 2021/22. From an 8- person firm in 2020, it has grown to 40 team in 3 times. We are appreciative of the trust and confidence that ECF investors have in us and the support the Malaysian government has received from the MyCIF ( Malaysia Co-Investment Fund ) program. I am delighted to be able to offer good results to our shareholders, especially the ECF owners. Without their unwavering belief and aid, we would not have achieved the status we hold today”, Wilson added.
ECF offers investors exposure to a wide array of substantial- development companies spanning across different industries, such as technology, care, F&, B, agriculture, greentech, education and consumer goods. This growth, coupled with the high profit potential, makes ECF an interesting purchase avenue. ECF was created by the Securities Commission to give retail investors the opportunity to invest in and take advantage of the expansion of promising companies through regulated ECF platforms like ATA Plus. Investors should be aware of the risks involved and conduct thorough assessments before investing, despite platforms like ATA Plud conducting thorough due diligence, disclosing pertinent information and the terms of the companies listed on its platform.
The success of Wilstech’s acquisition is a testament to the power of ECF in guiding businesses to success. Through ECF, the money that Wilstech raised helped it meet its business objectives and ultimately draw in a larger, established player like Systech. This success story underscores EC F’s value for investors and entrepreneurs alike”, said Elain Lockman ( pic ), Ata Plus ‘ CEO and co- founder.
With Systech’s acquisition of Wilstech as a prime example, ECF emerges as a promising investment avenue for portfolio diversification through curated high-growth ventures. Regulated platforms like Ata Plus provide access to such opportunities, fostering SMEs and startups and bolstering the nation’s economic growth. Visit Ata Plus at www.ataplus.com for more information about ECF and to learn about exciting investment opportunities. ata- plus.com.