Focus Software to strengthen ops in Malaysia

 

INDIAN business software company, Focus Software Ltd, is to invest RM30 million over the next three years to strengthen its operations in Malaysia and for forays into other Asean countries and the Far East, said its chairman, Hasnain Ali Khan last week.

He said the firm is set to increase revenue contribution to the group from Malaysia and Singapore to over RM20 million in the next three years from only RM4.5 million currently, by entering new markets such as lndonesia, Vietnam, Thailand and Hong Kong.

Focus Software posted revenue of RM40 million last year, he said, adding that the Middle East contributed about RM25 million while RM4.5 million came from Malaysia and Singapore and the remainder from India.

"Malaysia and the regional business software market is valued at RM300 million annually and this is expected to almost double within the next four years.

"We are confident that our products will see an increasing share with a 30 per cent growth over the same period," he told reporters after launching the company's latest product, the Enterprise Resource Planning software in Petaling Jaya.

Meanwhile, he said the company is in negotiations with its partners in Indonesia, Thailand and Hong Kong to market the new product.

He said Focus Software plans to raise its local skilled workforce to 100 from 20 within three years.

To date, the company has 21 offices in 13 countries.

He said the company, which is making a RM200 million initial public offering on the Mumbai Stock Exchange, will be listed in July next year.

"Despite the current financial crisis, our business is not affected and we believe the market will settle down within nine months," he said. - Bernama