Malaysia’s halal-certified cosmetics co SimplySiti eyes listing, entering Indonesia next month - report

Malaysian halal-certified cosmetics company SimplySiti Sdn Bhd is eyeing a listing on the Malaysian stock exchange, state news agency Bernama reported on Monday.

The company’s CEO Azuddin Abdul Rahman said it is close to making 60 million ringgit ($14.6 million) in sales next year and aims to be a global player beyond 2020, said Bernama.

“We are open to that (listing) option. It’s our target and we are working towards it,” the agency quoted Azuddin as saying.

The report said the company has generated 42 per cent of its sales through e-commerce platforms since 2017.

SimplySiti is targeting to enter Indonesia next month.

The company was founded in 2010 by popular Malaysian singer Siti Nurhaliza.

($1 = 4.12 Malaysian ringgit)

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