Small Talk: Teliti hopes Aim listing will help it raise £2m

After a failed attempt to list on London's growth market last year, the Malaysian IT services company Teliti International will take a second run next month with a stronger financial structure and a new broker to ensure the passage is smooth. The company, launched in 1990, is heavily focused on Malaysia and particularly on contracts for the Government. It is looking to grow and sees a public listing as crucial to its expansion plans. Teliti has three arms: Solutions, Services and Datacentre. The latter is in the process of building the largest such centre in Asia at 120,000 sq ft.

Teliti is in a very different situation to a year ago, when it was desperate to raise £11m from the markets but failed. It needed cash to kit out its data centre, but a collaboration with Cisco solved the issue. It ditched its broker and hired Daniel Stewart, and now it believes market conditions are right to go public. The company will list on the Alternative Investment Market next month.

It is looking to raise £2m to give it a valuation of somewhere around £20m. It needs working capital and will also use the funds to expand its sales teams. The company wants to expand its operations into the commercial sector in Malaysia and expand abroad, where it has operations in Singapore and Hong Kong. Japan will also become a key target.

So why London? It believes a UK flotation will bring it to the attention of European multinationals and a range of investors. It craves the transparency that goes along with a listing and says the move will maintain "a flexible financial structure for future growth". It chose AIM as it is too small to list on the Malaysian or Singapore markets. "The UK also understands the data centre investment story," a company insider added.

Taps turned back on at African Coal mine

It was a good week for African Coal as the South African government lifted its suspension of the company's integrated water use licence at its Vele Colliery mine. Its chief executive, John Wallington, said the announcement was a "turning point" for the company. "It was the last remaining piece to fall into the puzzle," he said.

African Coal has been forced to put the mine in mothballs for about 14 months because of the ban. This not only knocked production, but investor confidence also plunged. The share price inevitably followed. The shares, which had peaked in April 2010 at 2.5p, tumbled 70 per cent to as low as 0.7p last week. The Vele news brought a sigh of relief and a 23 per cent rise in the stock.

Unfortunately, coal will not be coming out of the ground at Vele until next January as it has to clear the mine and deal with the disruption of Christmas, but Mr Wallington believes it has now turned the corner.

Dark clouds gather above PV Crystalox

Sluggish demand for solar panels was already hurting PV Crystalox. But a steady slide turned into a freefall as the Oxfordshire-based company's shares fell 44 per cent on Friday after it said it would make a loss this year.

An expected recovery in its the largest panel market, Germany, now seemed unlikely, the company said, prompting "significant job losses" at its UK factory and reduced hours in Germany. PV Crystalox has yet to decide how many of its 140 UK staff will be made redundant. Reaction from analysts was less than enthusiastic. Peel Hunt said: "PVC is burning cash. Mothballing assets will help but the wider industry picture is unremittingly bad." The struggling producer of silicon wafers and ingots has shed 86 per cent of its market value this year. It is now worth just £31.4m.

Additional reporting by Steve Finch

Suggested Topics
PROMOTED VIDEO
Life and Style
Child's play: letting young people roam outdoors directly contradicts the current climate
lifeHow much independence should children have?
Arts and Entertainment
Tycoons' text: Warren Buffett and Bill Gates both cite John Brookes' 'Business Adventures' as their favourite book
booksFind out why America's richest men are reading John Brookes
Arts and Entertainment
<p><strong>2008</strong></p>
<p>Troubled actor Robert Downey Jr cements his comeback from drug problems by bagging the lead role in Iron Man. Two further films follow</p>
filmRobert Downey Jr named Hollywood's highest paid actor for second year running
Life and Style
Dale Bolinger arranged to meet the girl via a fetish website
life
Property
Sign here, please: Magna Carta Island
propertyYours for a cool £4m
Life and Style
tech
News
ebookA unique anthology of reporting and analysis of a crucial period of history
News
The Commonwealth flag flies outside Westminster Abbey in central London
news
Arts and Entertainment
Struggling actors who scrape a living working in repertory theatres should get paid a 'living wage', Sir Ian McKellen has claimed
theatre
Extras
indybest
News
Skye McCole Bartusiak's mother said she didn't use drink or drugs
peopleActress was known for role in Mel Gibson film The Patriot
Arts and Entertainment
tvWebsite will allow you to watch all 522 shows on-demand
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Training Programme Manager (Learning and Development)-London

£28000 - £32000 per annum + benefits: Ashdown Group: Training Programme Manage...

Training/Learning and Development Coordinator -London

£28000 - £32000 per annum: Ashdown Group: Training/Learning and Development Co...

Business Anaylst

£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...

Project Manager - ETRM/CTRM

£70000 - £90000 per annum + Job Satisfaction: Harrington Starr: Project Manage...

Day In a Page

Some are reformed drug addicts. Some are single mums. All are on benefits. But now these so-called 'scroungers’ are fighting back

The 'scroungers’ fight back

The welfare claimants battling to alter stereotypes
Amazing video shows Nasa 'flame extinguishment experiment' in action

Fireballs in space

Amazing video shows Nasa's 'flame extinguishment experiment' in action
A Bible for billionaires

A Bible for billionaires

Find out why America's richest men are reading John Brookes
Paranoid parenting is on the rise - and our children are suffering because of it

Paranoid parenting is on the rise

And our children are suffering because of it
For sale: Island where the Magna Carta was sealed

Magna Carta Island goes on sale

Yours for a cool £4m
Phone hacking scandal special report: The slide into crime at the 'News of the World'

The hacker's tale: the slide into crime at the 'News of the World'

Glenn Mulcaire was jailed for six months for intercepting phone messages. James Hanning tells his story in a new book. This is an extract
We flinch, but there are degrees of paedophilia

We flinch, but there are degrees of paedophilia

Child abusers are not all the same, yet the idea of treating them differently in relation to the severity of their crimes has somehow become controversial
The truth about conspiracy theories is that some require considering

The truth about conspiracy theories is that some require considering

For instance, did Isis kill the Israeli teenagers to trigger a war, asks Patrick Cockburn
Alistair Carmichael: 'The UK as a whole is greater than the sum of its parts'

Alistair Carmichael: 'The UK as a whole is greater than the sum of its parts'

Meet the man who doesn't want to go down in history as the country's last Scottish Secretary
Legoland Windsor's master model-makers reveal the tricks of their trade (including how to stop the kids wrecking your Eiffel Tower)

Meet the people who play with Lego for a living

They are the master builders: Lego's crack team of model-makers, who have just glued down the last of 650,000 bricks as they recreate Paris in Windsor. Susie Mesure goes behind the scenes
The 20 best days out for the summer holidays: From Spitfires to summer ferry sailings

20 best days out for the summer holidays

From summer ferry sailings in Tyne and Wear and adventure days at Bear Grylls Survival Academy to Spitfires at the Imperial War Museum Duxford and bog-snorkelling at the World Alternative Games...
Open-air theatres: If all the world is a stage, then everyone gets in on the act

All the wood’s a stage

Open-air productions are the cue for better box-office receipts, new audiences, more interesting artistic challenges – and a picnic
Rand Paul is a Republican with an eye on the world

Rupert Cornwell: A Republican with an eye on the world

Rand Paul is laying out his presidential stall by taking on his party's disastrous record on foreign policy
Self-preservation society: Pickles are moving from the side of your plate to become the star dish

Self-preservation society

Pickles are moving from the side of your plate to become the star dish
Generation gap opens a career sinkhole

Britons live ever longer, but still society persists in glorifying youth

We are living longer but considered 'past it' younger, the reshuffle suggests. There may be trouble ahead, says DJ Taylor