Upcoming IPO Series - Ramssol Group Berhad IPO in 2021

April 16, 2021

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Ramssol Group Berhad IPO Prospectus Analysis , What is Ramssol Group Berhad, What company is Ramssol, Ramssol IPO in Malaysia , IPO List in 2021,What is Initial Public Offering?How to apply IPO in Malaysia Online, How to buy an IPO online, How to get IPO, How to learn about IPO

Headings

Recently there were some news regarding Tan Sri Lim Wee Chai , the founder and executive chairman of the largest-gloves manufacturer Top Glove Corporation Berhad (TOPGLOV, MYX:7113) , and these news are related to his personal private investment in our Bursa Malaysia market.

According to some sources, Tan Sri Lim has invested in a local private education group named Minda Global Berhad (MINDA, MYX:5166).Bloomberg News quoted sources as reporting that Tan Sri Lim bought no more than 5% of MIND's equity through a recent share offering.

Bloomberg received an official reply from Tan Sri Lim's email, and quoted:

"This is a private investment and has nothing to do with Top Gloves."I have always been passionate about education, because it helps to make people, organizations, and the country progress."

MINDA operates several educational institutions, including the University of Cyberjaya, Asia Metropolitan University and Asia Metropolitan International School. The company did not respond to this matter this week.

Apart from his private investment in MINDA, Tan Sri Lim Wee Chai also made some investment on few listed companies in Bursa Malaysia such as LBS Bina Group Berhad (LBS, MYX:5789) and Tropicana Corporation Berhad (TROP, MYX:5401).

Tan Sri Lim Wee Chai bought 150.09 million shares or 10.24% of TROP in October 2017. Later, due to factors such as dividend reinvestment and the company's scrip dividend, his shareholding increased to 162.21 million shares or 11.07% with the position as the second largest shareholder after executive vice chairman.

He was also appointed as the non-independent non-executive vice chairman of TROP in October 2017, and then transferred to the non-independent non-executive chairman in January 2019.

While for the case for TROP, he became the largest shareholder in March 2020 after acquired After 131.31 million shares or 6.81% equity in TROP.

We can't really participate in or take too much advantage on the private investment made by Tan Sri Lim Wee Chai. However, there is one chance for us to take part with his investment in a technology-related company that is going to be listed in Q3-2021 through Initial Public Offering (IPO). This company is named - Ramssol Group Berhad.

Ramssol - Basic Info

Official website of Ramssol Group : https://www.ramssolgroup.com/

IPO Price per Share : Unknown

IPO Listing Date : Unknown , But it should be around July/August 2021

Ramssol Group Berhad (or Ramssol) is one of the ASEAN leading Human Resources Information Management Service Group, Human Capital Resources (HCM) Solutions provider and related Technology-application reseller for large corporations & education institution.

The upcoming Ramssol IPO should be the next IPO in Bursa Malaysia Ace Market after the listing of Tuju Setia in Main Market around May 2021. This IPO will be the latest technology-sector related company IPO since the listing of Samaiden Group Berhad (SAMAIDEN, MYX:0223) on October 2020.

Ramssol - History & Milestones

Commencement of HCM solutions business in Singapore

The history of Ramssol Group Berhad (Ramssol) can be traced back to 10 August 2010 when Rams Malaysia was incorporated by Cllement Tan Chee Seng (CEO), Lee Miew Lan (COO) and another business partner (who subsequently disposed all his shares in 2011), to undertake HCM and student management solutions business, primarily using Oracle Corp’s HCM and student management software.

Prior to the incorporation of Rams Malaysia, Cllement Tan Chee Seng and Lee Miew Lan had been involved in the provision of HCM solutions for 4 years and 12 years respectively. As of Year 2021, both of them currently have over 14 years and 22 years of experience in this respective field.

They built their reputations in the industry through their proven success and experience in the provision of HCM solutions, and also maintained business relationships with industry stakeholders including software vendors and other third party solution providers.

Shortly after the incorporation of Rams Malaysia, Rams Singapore was incorporated on 23 September 2010. In 2011, they were appointed by a third party solution provider to provide consulting and implementation of HCM solutions for CapitaLand Limited in Singapore, and it marked their first project and commencement of their business.

Over the years, Ramssol were involved in multiple HCM solution projects for the subsidiaries and branches of CapitaLand Limited in other countries including China, Japan, India, Australia and New Zealand. In 2011, Ramssol also extended their offerings to CapitaLand Limited by providing IT staff augmentation services.

In 2013, Rams Malaysia and Rams Singapore were registered as Oracle Corp’s partner, which allowed us to sell Oracle Corp’s HCM software licences, and to provide implementation of Oracle Corp’s HCM solutions directly to end-users. Following which, Ramssol successfully secured their first project directly with CapitaLand Limited where they provided consulting and implementation of HCM solutions directly to CapitaLand Limited.

Prior to being registered as Oracle Corp’s partner, all of their HCM solutions implementation projects using Oracle Corp’s software were secured through Oracle Corp’s representatives or third party solution providers (i.e. IT companies) whereby Ramssol acted as the subcontractor for their HCM solution projects or the supplier of in-house consultants to them.

Expansion of HCM solutions business to Vietnam

In 2013, Ramssol expanded their HCM solutions business to Vietnam through the incorporation of Vietnam entity, Rams Vietnam on 30 March 2013 in Ho Chi Minh City. Rams Vietnam also served as a support centre providing off-site technical support and maintenance services to their customers in Singapore. This support function had been relocated to Rams Malaysia in 2017,to centralise the Group’s support function in providing off-site technical support and maintenance services to all their customers in Southeast Asia. In 2015, Ramssol secured their first project in Vietnam where they provided consulting services to a Business Process Outsourcing (BPO) company, namely Harvey Nash Vietnam Co., Ltd.

Commencement and growth of HCM solutions business in Malaysia

In 2014, Ramssol secured their first project in Malaysia through an appointment by Oracle Corporation Malaysia Sdn Bhd (“Oracle Malaysia”) to provide consulting and implementation of HCM solutions for RHB Bank Berhad, where they migrated its HR functions from their existing HR system to a new HCM system using Oracle Corp’s HCM software.

In the same year, Ramssol were appointed by Oracle Malaysia to provide consulting of student management solutions for Multimedia University and won projects involving several other educational institutions in the subsequent years.

Expansion of HCM solutions business to Thailand

In 2015, Ramssol established their presence in Thailand through the incorporation of their Thailand entity, Rams Thailand on 13 February 2015 in Bangkok. In 2017, Ramssol secured their first HCM solution project directly from a local recruitment and BPO company, namely P.R. Recruitment and Business Management Co., Ltd, for consulting and implementation of HCM solutions.

Introduction of Feet’s, Ramssol's in-house employee engagement mobile application

After accumulating years of experience in the provision of HCM solutions, Ramssol recognised that effective communication between employees and active engagement in organisational activities improve overall work efficiency and enhance employee commitment.

Thus, they started the R&D of an employee engagement mobile application in 2017 in collaboration with a professor from UMCH Technology Sdn Bhd, a company nurtured by the University of Malaya. In 2019, their in-house employee engagement mobile application Feet’s, was launched under Feets Malaysia, which was incorporated on 15 June 2017.

Expansion of HCM solutions business to Indonesia

In December 2018, through Rams Malaysia, Ramssol successfully secured their first project in Indonesia with CV Surya Mandiri for the provision of consulting and implementation of HCM solutions as well as sale of software licences.

Following which, Ramssol incorporated Rams Indonesia and Feets Indonesia, both on 10 January 2019 in Jakarta, to officially expand their business presence in Indonesia. Rams Indonesia was set up to expand their HCM solutions business in Indonesia and Feet’s Indonesia was set up to market Feet’s in Indonesia.

Incorporation of Ramssol's investment holding company

On 10 January 2019, Ramssol Group Sdn Bhd was incorporated as an investment holding company, and was converted to a public company on 22 September 2020 to facilitate Ramssol's listing on the ACE Market of Bursa Securities.

Inclusion of Lark to their product offerings

In February 2020, Ramssol entered into a Lark Partner Network Agreement with Lark Technologies Pte Ltd and became a reseller of Lark, a third party collaboration platform, in Asia Pacific region (including Japan and excluding Mainland China).

The inclusion of Lark in Ramssol's offerings complements their range of HCM offerings, allowing them to have a comprehensive suite of HCM solutions and technology. Leveraging on their years of involvement in the HCM solutions industry and clientele base, Ramssol have an existing pool of potential customers whom they can promote and sell Lark to.

As such, the expansion of their offerings to include Lark is expected to provide them with additional stream of revenue and avenue for future growth as well as strengthen Ramssol's position as a HCM solution and technology specialist.

Summary

I have just made a timeline illustration of Ramssol's development in past decade with the information provided above.

Ramssol Group Berhad 2021 IPO - History & Milestone Timeline How to apply IPO in Malaysia online Ramssol Hextar Pekat Group Berhad IPO

Endings

There is quite a lot of information for this Ramssol Group Berhad IPO. I'm going to share these information in 1 or 2 more posts in here in next few weeks. If you like to get the update of this Ramssol IPO, you may follow my blog so that you can get a instant update once it is done.