Dynafront Holdings Berhad (“DynaFront” or the “Company”), an insurance technology specialist, made a successful debut on the LEAP Market of Bursa Securities Malaysia Berhad (“Bursa Securities”) today at 23 sen per share, which was 2 sen or 9.6% higher than its offer price of 21 sen per share.
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| L-R: DynaFront Non Independent Non Executive Director Mr. Chan Choong Wai; DynaFront Executive Director/Group Chief Operating Officer Ms. Gan Hui Ping; DynaFront Managing Director/Group Chief Executive Officer Mr. Chan Eng Lim |
The Company and its subsidiaries (“Group”) specialises in developing and providing proprietary and customised enterprise information technology (“IT”) solutions for a broad range of life insurance companies, including conventional life insurers, Takaful operators, independent corporate life insurance agencies and group assurance operations. DynaFront’s solutions, offered either as proprietary software products or managed services, have been successfully deployed to markets in Malaysia, Indonesia, Singapore, Philippines, Taiwan and Hong Kong.
The Group offers a comprehensive suite of software solutions extending from front-end sales automation systems to back-end individual and group life administration systems including PrecentiaCMS for front-end sales automation system, PrecentiaLife for back-end individual life administration system as well as PrecentiaGroup, a suite of back-end group life administration systems for employee benefits. DynaFront also offers PrecentiaTakaful supporting the Wakalah, Mudharabah and hybrid concepts and can be integrated into various Takaful models.
Mr. Chan Eng Lim, Managing Director and Group Chief Executive Officer of DynaFront said during the Listing Ceremony today, “We pride ourselves with the fact that many of our key management staff were formerly from the life insurance industry. Our extensive industry background and in-depth domain knowledge, coupled with our broad IT expertise, have been instrumental not only in the design and engineering of our software solutions, but also to our Group’s success over the years.”
“Moving forward, our Group will continue to expand and evolve our solution offerings by adopting microservices based architecture to deliver consistent, high-quality services with security, reliability and agility in all our solutions to our customers. With this adoption of microservices architecture, we expect our next generation of software solutions to be lightweight with modern technology stacks and AI driven, in our quest to create a smarter insurance ecosystem.
DynaFront is also moving into the virtual insurance space, with the Group’s research and development team focusing on the development and implementation of new mobile applications in wearable technologies, including web-enabled smart devices that use embedded systems, such as processors, sensors and communication hardware, to collect, send and act on data acquired from their environments such as temperature screenings and, movement detections to smart watches and wearable health devices. Real-time syncing and processing of data between wearables and our platform microservices as well as real-time health monitoring will enable life insurance companies to structure insurance products which are more customised and suited for the policy holders.
Hong Leong Investment Bank Berhad is the Approved Adviser, Placement Agent and Continuing Adviser for the listing exercise.
For more information, please contact Hakim J. Munif at +60 12-318 5410 or h.juraimi@swanconsultancy.biz.
Topic: Press release summary