Cosmos Technology International Berhad makes 3 sen premium on LEAP debut

Cosmos Technology International Berhad began its maiden trading day on the LEAP (Leading Entrepreneur Accelerator Platform) market of Bursa Malaysia on a bright note. (LEAP is an adviser-driven market which aims to provide emerging companies, including small and medium sized enterprises with greater fund raising access and visibility in the capital market).

The integrated water technology solutions provider registered a premium of 3 sen from its reference price of RM0.28 sen.

It hit the gong at RM0.31 sen with 20,000 shares changing hands at the start of trading on Monday, 9 Mar 2020.

Speaking to Astro AWANI on Niaga Awani LIVE, Managing Director Datuk Chong Toh Wee expressed satisfaction at the response from investors who share the Cosmos’ vision for the national water industry.

“We perform an important role in ensuring the water industry in this country is sustainably delivered,” he said.

Cosmos has built up over 15 years of specialist knowledge and expertise in the distribution and servicing of Siemens Malaysia electronic flowmeters.

It intends to expand its distribution portfolio to include energy saving solutions for the water and wastewater industries.

“This will enable municipal and industrial users to reduce electricity costs and enhance operational efficiency,” he said.

Chong added that digitialisation will enable the software-based solution to enhance automation of water facilities operations, management as well as monitoring of performance and efficiency of plant and equipment.

Leveraging on this digital technology initiative, Cosmos would also be embarking on a distribution initiative that will enable it to record and store data on water flow. This will allow for monitoring of water flow at treatment plants in real-time and has wide applications in commerce and industry.

As it is also involved in metal fabrication, Cosmos also would be acquiring new machinery to expand its range of fabricated metal products to include plates and meal railings for water and wastewater treatment plants.

Chong hopes the LEAP listing will pave the way to propel Cosmos to enhance its share of the local water technology solutions provider which now stands at 17.7 percent.