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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.

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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."