ChrysCapital opens channel to US


BY M. KRISHNAMOORTHY

A SILICON Valley based venture capital company has voiced its willingness to finance Malaysian IT firms and help them get clients in the United States seeking customer interactive services. 

ChrysCapital managing director Brahmal Vasudevan, a former Malaysian corporate leader, arrived in Kuala Lumpur on Sunday to explore business ideas. 

“The Malaysian IT industry has a big market waiting to be tapped in the business process outsourcing (BPO) business,” he said. 

BPO refers to the external management of tasks like finance and accounting. 

ChrysCapital is an investment firm. Its shareholders are Microsoft, IBM, Harvard University and the HSBC Group. 

The company focuses on investing in service-related companies that have achieved positions in their markets and have the potential to grow through acquisitions. 

“We will not only invest in Malaysian companies, but we will also link up the companies here with US BPO markets. 

“Malaysian companies can offer customer interaction services, human resources, research, engineering and design. These companies can also provide technical support and debt collection services to US companies, which find it expensive to run call centres there.” 

He said ChrysCapital would also provide strategic management and advisory services to Malaysian companies so that they could position themselves in the US market. 

The US market held big potential, he said, adding that the firms there would like to venture into countries like Malaysia due to lower costs and its English-speaking graduates. 

Citing a Business Week article, he said the United States BPO market done offshore was worth RM7bil this year. This was only about 1% of the total potential BPO market in the United States. 

“This would mean that a balance of about 99% or RM500bil is still waiting to be taken up by Malaysian firms.” 

Malaysia, he said, could position itself to capture a share of the United States BPO market. 

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