iNix Eyes Boost in Sales of Electronic Security System

MESDAQ-bound iNix Technologies Holdings Bhd plans to work with more property developers to equip more Malaysian homes with its electronic security systems.

"Many people want intelligent homes. They want a system that is feature-packed and yet affordable, and that is what we will deliver," said iNix chief executive Jimmy Tok.

iNix produces the SecureSmith smart home system at a fraction of the price of similar smart home systems.

The system has already been installed in housing projects managed by SP Setia Bhd, Proton City Tanjung Malim and Alam Tenggara in Kuantan.

"Besides homes that are yet to be built, iNix is also eyeing homes that are ready and occupied," Tok said.

iNix believes that technology is fast taking its role in the home security arena in Malaysia, and as such, the company has a tremendous growth potential.

"Today's homeowners want to stay connected and be in control of their homes via the mobile phone. So they may opt for an intelligent home system which is more comprehensive than just a simple house alarm," Tok said.

The trend, he adds, is towards intelligent home systems that offer home security, closed-circuit TV surveillance, home automation control, and Internet home monitoring via the personal computer and mobile phone.

iNix is able to offer all this via its Secure Smith smart home system.

The system is scalable and is available from RM1,000 onwards.

For a home to use a smart home system, it needs to have an Internet connection. This will allow homeowners to constantly monitor their loved ones, and to safeguard their property against theft, intrusion and fire.

Products such as the SecureSmith system has a remote monitoring software that allows home control and surveillance utilising both fixed Internet protocol (IP) and dynamic IP.

Tok said that iNix expects to raise about RM10.5 million from its listing on the Malaysian Exchange of Securities Dealing and Automated Quotation Bhd (Mesdaq) market.

The initial public offering, due to take place in the final quarter of this year, involves a public issue of 14.95 million new ordinary shares of 10 sen each at 70 sen apiece.

"With the listing proceeds, we will be able to make bigger purchases of raw materials such as electronic components for our products, which will translate into cost savings," Tok said.

Of the proceeds, RM2.5 million will be used for research and development, RM1 million for advertising and promotion, RM500,000 for the upgrading of factory equipment and RM1.8 million for listing expenses.

The balance will be reserved for contingencies.

Going forward, iNix plans to secure new buyers in the United Arab Emirates and the US by the final quarter of this year, on top of the company's existing overseas clientele in Australia, Sri Lanka and Europe.

"We see vast potential in the US for our do-it-yourself products," Tok said.

Copyright ©2005 The New Straits Times Press (Malaysia) Berhad. Source: Financial Times Information Limited - Asia Intelligence Wire