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Thursday, 16 March 2017

Digistar plans to grow security solutions revenue

Rising demand: React Mobile founder and CEO Robb Monkman and Lee showing the Panther Mobile devices at the event.

Rising demand: React Mobile founder and CEO Robb Monkman and Lee showing the Panther Mobile devices at the event.

KUALA LUMPUR: Digistar Corp Bhd is eyeing some 300,000 subscribers for its newly-launched security system and services – Panther mobile.

The company has partnered Celcom Axiata Bhd as its mobile operator partner initially and said it has an option to expand this to other mobile service providers.

Its group chief executive officer Datuk Wira Lee Wah Chong said security solutions would see rising demand to complement the efforts of the police force.

He also planned to bring this service to other parts of South-East Asia.

“We think that Thailand and Indonesia could see high demand and the initial outlay of investments by the user is low compared with an alarm system where one has to pay a few thousand ringgit,” he said at a press conference here yesterday.

The company will use distributors to market its product and plans to spend some RM40mil in capital expenditure over the next five years.

“This will be funded internally, and we will expand our sales, support and marketing throughout the country,” he said.

Going forward, the company hoped to grow its security solutions revenue from less than 10% to up to 30% in the next five years.

“We would like also to see a growth in our recurring revenue, and this includes contributions from our hotel in Malacca,” Lee said.

Digistar said it has spent more than three years of research and development with the expertise and technology provided by React Mobile Ltd.

Digistar and React Mobile have also signed an exclusive partnership for South-East Asia to market the security solution.

Tags / Keywords: Digistar

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