RAMSSOL GROUP BERHAD (RAMSSOL)

RAMSSOL GROUP BERHAD — From HCM Provider to Multi-Vertical AI/Cloud Platform

RAMSSOL is no longer just another HR software company. In less than five years since listing on Bursa Malaysia's ACE Market on 13 July 2021, the company has transformed itself from a Human Capital Management (HCM) solutions provider into a multi-vertical technology platform spanning AI, cloud distribution, education, automotive, financial technology, and healthcare — across multiple ASEAN countries.

This is the story of a Malaysian software company that dared to think bigger, backed by a vocal leadership team and an expanding portfolio that is increasingly difficult to ignore.

7 Business Segments at a Glance

• 🏆 PeopleTech (Core) — HR/HCM solutions remain RAMSSOL's backbone and largest revenue driver. A mix of project-based and recurring SaaS-style revenue from large corporates across Malaysia and ASEAN.
• 📚 EduTech — Student management solutions for educational institutions. Moderate growth, complementing the digital education ecosystem.
• 🚗 AutoTech — Technology solutions for the automotive industry. A segment being built out with potential in the EV and dealership digitalization era.
• 💳 FinTech — Financial technology solutions. Still early stage but with high potential in Malaysia's expanding digital banking landscape.
• 📢 MarTech — Marketing technology focused on automation and data-driven marketing campaigns.
• 🏥 AI Health Tech (Thailand) — HIGH POTENTIAL NEW SEGMENT. Through 51%-owned subsidiary GeekStart Company Ltd, RAMSSOL secured a RM35.6 million contract for an AI-integrated healthcare system in a Thai hospital. The total target is RM131.6 million (1 billion THB) over 3 years in Thailand's AI healthcare market.
• ☁️ Tencent Cloud Distribution — NEWEST (October 2025). RAMSSOL was appointed as official Tencent Cloud distributor for 6 ASEAN markets: Malaysia, Singapore, Thailand, Indonesia, Vietnam, and the Philippines. The agreement was signed 2 September 2025 and announced 9 October 2025. First product: AI Digital Human solution (voice interaction, 3D modelling, motion capture, TTS). This positions RAMSSOL as the first Tencent Cloud migration service platform outside China.

Leadership: Datuk Wira Ts Cllement Tan

Managing Director Datuk Wira Ts Cllement Tan is unusually active in investor communications for an ACE Market company. He regularly engages retail investors through social media and corporate platforms, offering a level of transparency that is rare among small-cap Malaysian listed companies. Investors should assess the consistency between stated intentions and actual execution when evaluating management quality.

Shariah Status and Listing

RAMSSOL is Shariah-compliant ✅ — suitable for investors seeking halal investments. The company has been listed on the ACE Market of Bursa Malaysia since 13 July 2021.

As an ACE Market company, RAMSSOL sits in the small-to-mid-cap growth category with a market capitalization of approximately RM382 million at the current price of RM0.945. A potential future transfer to the Main Market represents an additional re-rating catalyst worth watching.

The Investment Thesis in One Paragraph

What sets RAMSSOL apart from other ACE Market software stocks is its aggressive cross-border expansion strategy. The combination of Tencent Cloud distribution across 6 ASEAN nations and the Thailand AI healthcare contract provides a growth narrative that extends well beyond a domestic HR software company. Revenue grew +41% YoY in the first 9 months of 2025, with net profit up +47% YoY — the numbers back the narrative.

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