INIX ... Aug12

INIX TECHNOLOGIES Holdings Bhd, a home and office security systems maker, may see a new substantial shareholder coming on board over the next few months.

According to a market source, a European-based technology company may be keen to buy a significant stake in Inix as part of the company's plan to expand into this region. It was also speculated that the acquisition may involve the European company acquiring stakes from Deutsche Bank AG as well as from the open market.

Once the acquisition is made, the European company may inject new business or product line into Inix.

The source, however, said that the European company currently produces a digital equipment that, once connected to a television set, allows consumers to surf the net, watch live shows, watch movies both online or offline, listen to music, browse their photo library, among others.

To recap, Deutsche Bank became a substantial shareholder in the company after buying 7.21 million Inix shares or a 5.7 per cent stake, on August 2 2012. However, the German lender ceased to be a substantial shareholder after it sold two million shares five days later. It is unsure if the lender still have stakes in Inix.

Deutsche Bank's acquisition came about a month after Citigroup Global Market ceased to be a substantial shareholder when it disposed a 2.54 per cent stake in Inix.

Inix produces intelligent wireless security, automation and closed circuit television surveillance systems for home and business use.

For the nine months ended April 30, 2012, the company posted a revenue gain of 4.5 per cent to RM3.35 million, versus RM3.21 million revenue same period a year ago. Nine- month net profit was RM77,000, compared to the RM229,000 net loss in same period last year.

Currently, Inix executive director and chief executive officer Azman Hussin has a 24 per cent indirect stake in the company, via Encoral Digital Solutions Sdn Bhd.

Encoral is an information and communication technology solutions provider co-founded by Azman.