MESDAQ market-listed PUC Founder (MSC) Bhd is mapping out plans to penetrate the fingerprinting verification market in China, its chairman Alan S.L. Cheung said.
The company, which launched its fingerprint verification solutions last year, was currently modifying its existing biometric products before entering such a large but competitive market, he told a press briefing in Beijing.
He said PUC Founder's performance was satisfactory given that its fingerprint security product had already made an impact in Malaysia, Vietnam, Indonesia, Thailand, and the Middle East.
Cheung is also the president and chairman of Founder Holdings Ltd, which holds 36% in PUC Founder after the latter's flotation in April last year.
PUC Founder managing director Teh Hon Seng said the company was working closely with its parent to pave the way for its fingerprint security products to venture into China.
He said the company would do so jointly with its sister company, Beijing Founder Order Computer System Co Ltd.
According to International Biometric Group 2003, revenue in the global biometric industry would reach RM4.04bil by 2007, attributable to the wide range of applications for fingerprint-based solutions.
Fingerprint security systems contribute about 20% of PUC Founder's revenue. Its pre-press electronic printing systems are still its major income contributor.
The company's fingerprinting security system is a Malaysia-made high-tech item. PUC Founder is utilising Peking University's fingerprint verification technology in its security products.
“Our biometric product is an example of how PUC Founder can tap into its parent company's resources,'' Teh said, adding that its biometrics division was expected to be the company's growth engine.
The company's latest product, the second generation Fingertec, is a device with fingerprint verification technology used in areas such as security control, physical access control and time attendance tracking.
PUC Founder has also tied up with Yayasan Bekas Perajurit Wilayah Persekutuan to promote FingerTec to ministries, government agencies and government-owned institutions of higher learning.
Cheung expressed hopes that PUC Founder would become the most profitable Mesdaq company in five years. Founder group, an investment arm of Peking University, has interest in PUC Founder via its subsidiary, Founder Holdings Ltd, which is listed on the Hong Kong Stock Exchange.
Founder group is known for its pre-press electronic printing system and is also the second largest PC maker in the mainland, producing about one million PCs last year.
Over the past two years, it has diversified into other areas through acquisitions of state-owned enterprises, and interests in a bank, securities firm, pharmaceutical company and steel manufacturer.
Founder group posted a turnover of 14 billion renminbi (RM7bil) last year. It has six overseas subsidiaries – in Hong Kong, Malaysia, Canada, Taiwan, Japan and South Korea.
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