Time eyeing Indochina, Indonesian ICT markets

Time Engineering Bhd, a government-linked company involved in information and communication technology (ICT), intends to move in aggressively to capture the Indochina and Indonesian markets.

Its Chief Executive Officer, Steven Lim Kee Seng, said the firm had identified Loas, Vietnam, Cambodia, Myanmar and Indonesia to market its products and services with emphasis on ICT security-based software, among others.

He said the flagship outfit of the UEM Group had progressed leaps and bounds, over the last eight months, since he took over the company.

" We are now in the midst of restructuring Time Engineering. We are also building our domestic market with the e-dagang flagship. We are also emphasising the e-learning segment. We have successfully implemented the e-learning project for 10,000 schools nationwide," he told Bernama in an interview recently.

He said while the company pursued its aim of making a mark in the local market, the last few years, the time was now ripe for it to set its sights abroad.

" The markets we have identified are just moving into ICT. These are untapped markets with huge opportunities. It is not only about selling our ICT products but also forming strategic alliances in the fields of transport, health and education.

" Although we want to move into these markets, we will also keep an eye-out for other markets. Everything is going electronic now but what is lacking is cyber-security and this is where we need to capitalise," he added.

Lim also said Time Engineering hoped to launch its cyber security products, involving financial institutions, to Indochina and Indonesia in the near future.

It intends to leverage on the expertise and experience of more than 50 ICT engineers under its fold who are all trained and certified in the field of cyber security.

To achieve this, the company signed several teaming agreements with world renowned firms like 3Com, Oracle and Sumitomo, which are all major ICT industry players.

"We also have a new product which provides wireless Internet service for a two kilometre radius and this product would be affordable. As a government-linked company, we aim to go forward. We are the first Malaysian ICT company to boldly venture into these markets.

" To attack the Asian region, we need to have close and cordial relations with the authorities and the business community in these countries," Lim added.

Time Engineering has already acquired a project in Vietnam, funded by the European Union, and it involves e-learning.

"We have the experience and expertise and there is no reason why we should not venture outside of Malaysia. This itself speaks volumes of our efforts to broaden our horizon. Action speaks louder than words.

"A month ago we were shortlisted for another big project also in Vietnam. This Project is to be funded by the World Bank. This shows that these countries have big potential in the ICT market," he said.

Lim said Laos, Cambodia, Vietnam and Myanmar were like Malaysia in the 1980s, when the market for ICT related products were booming.

He also pointed out that Time Engineering placed sole emphasis on profits but also wanted to share knowledge in the field of cyber security and e-learning with these nations which were now slowly, but surely, embracing ICT in the way they conduct business.

Asked on his advice to Malaysian ICT firms wanting to venture out of the domestic market, he said they would first need to identify a niche product to market.

"Go out and plant the seeds. You would be able to reap the fruits of your labour in a year or two," he said.

Between January and September last year Time Engineering reported a higher pre-tax profit of RM26.299 million (US$1=RM3.4) from RM26.205 million chalked up in the same period last year.

The company`s revenue, however, declined to RM94.369 million from RM120.592 million in the previous corresponding period. (AntaraNews)