novaMSC gets SC and KLSE nod for listing

KUALA LUMPUR, June 9, 2003 — Nova MSC Berhad (“Company” or “Nova”), an established provider of application software and services for the Healthcare and e-Government sectors, recently received its approval from the Securities Commission (“SC”) and the Kuala Lumpur Stock Exchange (“KLSE”) to list on the MESDAQ Market on the KLSE.

The Nova group of companies originated from Singapore in 1999. It was started by four technopreneurs from Siemens with the aspiration to develop technology solutions aimed at increasing efficiency and effectiveness of the healthcare and e-Government sectors. Their innovative work captured the attention and support of the National Science and Technology Board of Singapore (now known as A*Star) via a RM1.2 million grant under the Research Incentive Scheme.

Within a short span of less than four years, Nova has successfully developed and commercialised its Total Hospital Information Systems or better known as “VESALIUS”. Among its notable list of customers in Singapore, Malaysia, Indonesia and Hong Kong are the Singapore General Hospital, Singapore National University Hospital and the Puteri Specialist Hospital in Johor, Malaysia.

With similar success, Nova’s e-Government suite of solutions is also deployed in various governmental establishments in Singapore, Malaysia and Thailand. This includes Perbadanan Putrajaya, the Urban Redevelopment Authority, Building & Construction Authority and the Land Transport Authority of Singapore.

The current version of VESALIUS supports hospital administration, patient administration, operating theatre management, pharmacy, inventory, billing and also includes clinical modules such as physician support system, order management and nursing care.

The e-Government suite of products is made up of three main solutions namely “PAVO™”, which enables government and the private sector to collaborate in carrying out transactions over the Internet, “OCTANS™”, supports management of a local council and “FORNAX™”, a solution developed to check electronic building and development plans for compliance with building regulations and land planning guidelines.

“With extensive Research & Development (“R&D”) work planned for its core competent products and services, Nova has chosen the Multimedia Super Corridor (“MSC”) as its Global Software Development and Service Centre (“GSDSC”) to expand and grow its next phase of R&D initiatives. Over the next couple of years, Nova intends to extend its market reach to China, other Asian countries and European markets,” said Steven Chan, Chief Executive Officer of Nova MSC and one of the founders of the group.

“The flotation is a major milestone for Nova. With additional funds from this flotation exercise, we look forward to further expand our business. Nova’s business cross-dimensions, quest for solutions and spontaneous growth have sharpened our competitive edge to go global,” he added.

Today, Nova is a multi-national corporation with strong institutional investors from Malaysia, Singapore and Japan. The institutional investors include OSK Technology Ventures Sdn Bhd, Natsteel Technology Investments Pte Ltd, Kim Eng Asia Holdings Ltd, Itochu Corporation and InfoComm Investments Pte Ltd.

Nova is scheduled to be listed on the MESDAQ Market of the KLSE sometime in the third quarter of this year. Nova’s flotation exercise will be led by OSK Securities Berhad, which acts as both the Adviser and Lead Manager.

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