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Software provider Deskera plans Catalist listing

CLOUD-BASED business management software provider Deskera Holdings is planning to list on the Singapore Exchange's (SGX) Catalist board, according to a preliminary offer document posted on SGX's website.

The company made a S$2.5 million net profit in 2014 on S$14.4 million of revenue, based on audited results for 2014. For the first six months of 2015, unaudited results show a S$3.1 million net profit on S$16.3 million of revenue.

Deskera provides a suite of enterprise resource planning, customer relationship management, project management and human resource management software products to Asian small and medium-sized enterprises (SMEs).

It mainly sells its products through resellers who bundle Deskera products into package deals in addition to other products and services offered.

The group plans to raise funds to expand its information technology infrastructure, conduct sales and marketing, and expand its product offering.

"Our key focus is to develop a regional sales structure to target Thailand, Malaysia and Indonesia," it said.

"Brand recognition outside Singapore and Malaysia can be enhanced to enable our group to compete with more established companies."