Cloud-based software provider Deskera heads for Catalist listing

SINGAPORE - A provider of cloud-based business management software has lodged a preliminary offer document for a listing on the Catalist board on Dec 31 last year.

Deskera Holdings provides software that support business needs like enterprise resource planning and customer relationship management, and caters mainly to the Asian small and medium enterprise (SME) market. Cloud services allow customers to use applications offered over a network and pay for only what they use.

The company made S$2.5 million of net profit in 2014 and S$3.1 million in net profit for the first half of 2015. Revenue for 2014 was S$14.4 million, and revenue for the first half of 2015 was S$16.3 million.

The group intends to grow sales and marketing capabilities, improve its digital infrastructure, and add to its products, it said in its offer document issued on Dec 31.

Its key focus is growing sales in Thailand, Malaysia and Indonesia. Another goal is to improve its brand recognition outside Singapore and Malaysia.

An increasing demand for cloud-based computing products as companies seek to scale back on overhead and infrastructure costs will support demand, Deskera said. As the economy recovers, cloud-based solutions would allow for low-cost, on-demand scalability, it added.