Mykris pleased with dividend in first year on NZAX

Mykris Ltd (NZAX:MYK.NZ - News), a leading Malaysian provider of managed internet services, will pay a total dividend for its first year listed on the NZX Alternative Market (NZAX) of 1.5 cps. The record date for the final dividend of 0.8 cps is Friday 2 August 2013.

Mr Chew Choo Soon, Mykris Chairman and CEO says, "We are delighted to return a dividend in our first year of listing, one of the few to do so, proving our business strategy and making us stand out as a company for investors to watch. We have delivered a relatively high yield while being positioned for ongoing growth within the corporate internet services industry, capitalising on the underlying strength of Malaysia’s economy."

Mykris’ managed internet services and products are used by large hotels and other companies throughout Malaysia with significant internet demands from guests and employees, and who require added-value services to manage their capacity. A large proportion of clients commit to Mykris for periods of three to five years, providing certainty of cash flow for ongoing product development.

In June 2012 Mykris announced a major contract for its ‘triple-play’ network solution, in which voice, video and data are all provided in a single access subscription. This involved designing, building and deploying a complete Unified Communications Network (including IP-TV, Digital Signage and Video on Demand solutions) for a 5-star hotel at Kuala Lumpur International Airport. With years of experience and a proven track record, Mykris is positioned as a leading player in one-stop High Speed Internet Access (HSIA) services and hospitality solutions.

"We sought a NZAX listing in 2012 to gain exposure to new shareholders, believing that New Zealand investors have an improving appetite for high growth scalable companies with exposure to international markets," says Mr Chew. "It is refreshing to see additional technology companies join the NZX this year, increasing investor understanding of the sector and creating a more vibrant sharemarket overall."

Although Mykris business activities have been focussed on Malaysia, the company is also looking for opportunities in New Zealand as local internet usage increases, driven by telecommunications infrastructure upgrades.

Mykris annual report for the year to 31 March 2013 is now available at www.mykris.net. The company’s Annual Meeting will be held at Auckland’s Mercure Hotel on 20 August, at 2.30pm.