23 September 2022. Friday
KUALA LUMPUR (Sept 22): Ramssol Group Bhd has secured a deal to provide mobile application platform services for a motorcycle retailer.
The group said its subsidiary, RAMS Solutions Sdn Bhd, will provide the platform called Rider Gate to GT-Max Motors (M) Sdn Bhd to enable the retailer to sell its products and services, as well as manage its operations and finances more efficiently.
This will include the sale and trade of new and used motorcycles; sale of accessories and auto parts, and extended warranty and insurance; completion of motorcycle services; and provision of technical training courses for mechanics.
RAMS will be paid commission on every sale completed online or offline for GT-Max Motors, said Ramssol in a filing with Bursa Malaysia, adding that RAMS will also assist GT-Max Motors in the maintenance of the platform.
Ramssol managing director and chief executive officer Datuk Seri Cllement Tan Chee Seng said RAMS had the skills and expertise to provide a mobile application.
“This agreement will contribute to Ramssol’s growth and further boost our standing as a business-critical technology solutions provider in Malaysia. This is in line with our ultimate vision to continuously deliver value to our stakeholders,” he added in a statement.
Meanwhile, Ramssol also announced that it will undertake a private placement of up to 10% of its total number of issued shares at a price to be determined later.
The proceeds raised from the placement will mainly be utilised for the expenditure in relation to the development of Rider Gate.
Ramssol’s share price closed 1.14% higher at 44 sen on Thursday (Sept 22), for a market capitalisation of RM98.13 million.