FlexSystem plans to acquire old-brand software company

Lok Wai Man, chairman and CEO of FlexSystem (8050), said that as the competition was intensified, the profit of the company this year was expected to increase broadly and the company was planning to acquire an old-brand software company. Although the acquired target had not gain profit yet, said Mr Lok, Flexsystem would help it to reorganize and the possibility of getting it listed later on was not ruled out. Mr Lok continued to claim that Flexsystem would focus its emphasis on researching and developing the new products and HK$10 mln to HK$30 mln was expected to be invested accordingly. Moreover, the related software would be put out at the end of this year and at the beginning of next year.

Related stock : (8050)