KUALA LUMPUR, Sept 1 — Malaysia-based digital advertising, cash rebate and payment solutions provider, Starbox Group Holdings Ltd plans to expand its operations in South-east Asian countries over the next three years, following its successful listing on the Nasdaq.

Chairman and chief executive officer, Lee Choon Wooi said the company is looking to venture into the Philippines and Thailand by June 2023 and to further expand into Indonesia, Brunei, Singapore and other countries by June 2025.

"We also plan to upgrade our software and system and promote the company’s brands in Malaysia.

"Following the successful listing on Nasdaq, Starbox will be able to leverage more resources to deploy working capital to areas with higher potential to grow and expand its business,” he told a press conference here today.

As an infrastructure and technology-based service provider, the company is also looking at ways to enhance its ecosystem to help local small and medium enterprises grow further, said Lee.

Starbox Group became the first Malaysia-based company to be listed on Nasdaq with foreign private issuer status on August 23, 2022.

It had debuted at US$27 (RM121), a premium of US$23 from its initial public offering price of US$4, successfully raising US$21.5 million with a total of 136,761 shares traded. — Bernama