iDimension

Manufacturing software solutions provider iDimension Consolidated Bhd is looking at further growth despite the uncertain outlook for semiconductor manufacturers, given the bearish sentiment in the global economy.

About 57% of its RM14.95mil revenue for the financial year ended Dec 31, 2010 (FY10) was derived from the semiconductor sector. Services-based industries such as aviation and oil and gas accounted for 23.2% of revenue last year, followed by the electronics sector, 12%. The rest came from other manufacturing industries.

iDimension currently had an order-book of RM12mil, of which RM10mil are overseas jobs in semiconductor sector.

The group, which has four subsidiaries and more than 60 employees, was set up in 2001 as a value-added reseller of third-party software. Since then it has progressed to become a developer of its own proprietary manufacturing software solutions.

The group has seen impressive growth in the past three years, recording respectively an after-tax profit and revenue of RM4mil and RM7.7mil in FY08, RM6.5mil and RM11.93mil in FY09, and RM8.24mil and RM14.95mil in FY10.

In-house software solutions contributed 69.6% to its FY10 revenue, followed by third-party software, 15.4%. The balance was from systems maintenance.

Among iDimension's major customers are Unisem (M) Bhd, Renesas Semiconductor KL Sdn Bhd, Lexmark Int (Philippines) Inc and STATS ChipPAC Malaysia Sdn Bhd.

Besides Malaysia , the group provides software solutions to Indonesia , Singapore , China , the United States , the Philippines , Japan and Thailand .

Malaysia is the group's principal market, accounting for 51.8% of revenue in FY10. Singapore was the largest contributor (16.7%) to its overseas revenue last year, followed by China and Indonesia , which contributed 11.7% each.

Malaysia will still be its main market in the future.

iDimension's initial public offering (IPO) was oversubscribed by 6.09 times. The IPO involved a public issue of 38.23 million new shares of 10 sen each at 38 sen apiece. It also involved a private placement of up to seven million shares.

Of the RM14.5mil proceeds, 34.42% will be used for expansion in the group's key markets, 30.97% will be for research and development, 5.69% for working capital and 14.46% as capital expenditure. The balance 14.46% are for listing expenses.

Meanwhile, iDimension posted an unaudited net profit of RM4.2mil on revenue of RM3.98mil its first half ended June 30, 2011. The high net profit was due to the recognition of negative goodwill under other income, which arose from the acquisition of subsidiaries in the first quarter.