Mykris Limited, a homegrown Malaysian provider of Managed Internet Services, announced their company’s financial results and strategic direction in its inaugural Annual Report.
For the six months period ending 31 March 2012, MyKris Limited’s reported a post-acquisition revenue of RM3.66 million (NZ$1.45 million). The company’s growth was largely domestic driven from Malaysia, with more than 80% derived from Mykris’ Managed Internet Services.
Executive Chairman Mr. Chew Choo Soon shared that the two significant contracts which Mykris won recently is value at RM7.18 million (NZ$2.85 million), being Pan Pacific Hotel KLIA and Malaysia Airports (Sepang) Sdn Bhd;
“Mykris has no immediate plans to raise any cash at this time as the company cash position is strong with low gearing at or RM3.36 million (NZ$1.336 million),” says Chew.
Great Growth Opportunities for Managed Broadband Businesses
As it continues to establish itself as a Tier-1 Internet Content and Services Provider (ICSP) licensee from the Malaysia Communication and Multimedia Commission (MCMC), Mykris expects to ride the national and international wave for premier managed WAN (Wide Area Network) broadband services.
“Malaysia’s GDP growth is expected to be at 6 percent in 2012, with the contribution of the ICT industry to increase by a further 10 percent by 2015.” “The Malaysian Government also expects the Managed Internet Service industry to grow by a projected 3.3 million in broadband subscribers by end of 2012, thus we have developed a unique position for ourselves in Malaysia by providing Managed Internet Services that gives a leading Internet connectivity edge to our enterprise clients”. Currently, the managed Internet services market landscape in Malaysia is dominated by players charging high prices with limited broadband scalability and flexibility. “Our subsidiary Mykris Asia takes advantage of this via our cost-effective and highly-reliable Managed Internet Services alternative to the market,” says Chew.
He adds that the company has close working relationships with Malaysian telecommunications providers, ISPs and carriers delier its services to Mykris’ focus sectors of hospitality, education and commercial enterprises.
Future Plans and Opportunities
Mykris’ plans to venture further into niche markets via its one stop High Speed Internet Access (HSIA) services, and wireless and Internet gateway solutions by its MSC-status subsidiary MyKRIS Net.
“To expand, we are exploring possible Merger and Acquisition (M&A) exercise to acquire good companies that have complementary products and services for the business,” ends Chew.
