CUZZY Advanced Convergence Laboratories Sdn Bhd, a Multimedia Super Corridor-status (MSC) company, is eyeing a Mesdaq market listing by year-end.Mesdaq or Malaysian Exchange of Securities Dealing and Automated Quotation market caters to high growth companies such as those from the information technology (IT) or oil and gas sectors.

Cuzzy Advanced is convergence technology company which transforms all contents generated by computers, broadcasters, telecommunications companies and others onto the Internet.Cuzzy Advanced founder president and chief executive officer Jeffrey Raj said the flotation exercise is part of the company’s plans to earn a better price-to-earnings ratio for its stocks.

“We want to get a better deal for our shares in the future but for now. We want to focus on making a steady revenue stream,” Raj told reporters in Subang Jaya, Selangor yesterday after the launch of its XBB dot TV (XBB.TV) Internet product by Energy, Water and Communications Minister Datuk Seri Dr Lim Keng Yaik.

Raj, however declined to give the total amount of proceeds that will be raised through the initial public offering but said half of it will be used in making better Internet contents and programmes and the other half an all-out advertising blitz on the Internet.

Cuzzy Advanced was established seven years ago with an authorised capital of RM5 million, of which RM4 million is fully issued and paid up.It made a low revenue of RM2 million for the financial year ended December 2003 due to high spending on various research and development activities.

On its XBB.TV which offers international TV programmes on the Internet, Raj said the IT-based company hopes to rope in 100,000 subscribers within a year, of whom half will be from Malaysia.“We hope to make a revenue of RM16 million, of which 30 per cent, or about RM4 million, will be tax-free profit, due to our MSC status which is valid for the next five years,” said Raj.