KUALA LUMPUR: Vivocom International Holdings Bhd (VIHB) aims to transform into a multi-billion within the next few years following its group chief executive officer (CEO) Datuk Seri Chia Kok Teong's voluntary self-imposed moratorium (SIM).
The company in a statement today said Chia is dedicating all his efforts to creating wealth for all shareholders in the long term.
To recap, VIHB in an announcement to Bursa Malaysia on 4 November 2020, announced that Chia had committed not sell his personal stakes in the company in the open market for the next three years.
In another announcement, the company's corporate assets injection proposals submitted in December 2020 had already been approved by the relevant authorities.
Chia explained that the main purpose of his SIM is to instil confidence in the public of his long-term vision and plans of transforming VIHB into a 'formidable and profitable force'.
The SIM initiated by Chia is significant, as, by committing to not sell his personal stakes in the open market for the foreseeable future, he hope to inspire shareholders to show more faith and belief in his leadership and stewardship of VIHB for the years ahead.
Even the private placement shares taken up by Golden Key Portfolio Sdn Bhd has a moratorium period of 12 months, a condition imposed by Chia.
Additionally, this would also serve to attract new and long-term investors into VIHB and give the company's shares long term price stability and sustainability.
"It would be ideal if the company's shareholders adopt a long-term view as I do with my three-year SIM.
"It takes time to transform a company into a long-term success and I will work relentlessly towards such a goal," Chia said.
Moreover, as the company's CEO and single largest shareholder, the SIM clearly shows that Chia already has a clear plan with a long-term vision and supreme confidence in VIHB's future, the company said in a statement.
"We want a stable and strong share price so that VIHB can use its shares as a currency to pursue strategic merger and acquisition (M&A) activities as part of our future growth strategies.
"We seek to acquire companies with game-changing and disruptive strategies in their businesses to add to or help transform VIHB's business models.
"We must adapt to a constantly changing or digitalised world and look at new and different ways of doing business better going forward," he said.
Chia said the company is also looking at businesses within the renewable energy and digital technologies segments.
"These two segments would add to our existing businesses," he said, adding that VIHB will be focusing on companies with proven track record of success.
In addition, VIHB is also constantly looking for exciting businesses that are pioneers in their respective markets with growth potential and earnings.
Chia explained that VIHB aims to find the next Grab, Netflix or Tesla in other words, industry disruptors with explosive growth potential.
"The company is studying all avenues for 'blockbuster' growth, both organic or inorganic, and it may even lead us to acquiring strategic stakes in other public listed companies for investment holding purposes.
"We have already begun to explore several such initiatives. our goal is to transform our earning capabilities dramatically," he said.