MULTIMEDIA Research Lab Sdn Bhd (MLABS) expects at least 100% growth in sales of its multimedia video conferencing systems (MCS) in new growth markets next year.
MLABS, which has signed up a distribution agreement with business partner Third Gen Technologies Private Ltd about six months ago, plans to appoint distributors to sell MCS solutions in new markets including China and Thailand next year.
Chief financial officer Lim Soon Seng said the company was on track to meet its forecast revenue for the financial year ending Dec 31, of RM5.4mil and net profit of RM1.2mil.
We are almost there. We are targeting at least 100% growth in revenue next year as our MCS system is being rolled out, he told reporters via video conferencing from Penang yesterday.
The multipoint-to-multipoint video conferencing session was linked from MLABS' office in Kuala Lumpur to its office in Penang.
Third Gen Technologies chief executive officer Robindra S. Chatha and the researcher who headed Universiti Sains Malaysias network research group for development of the technology, Associate Professor Dr Sureswaran Ramadas, also participated in the session from India and France respectively.
We also foresee the domestic market to be a major growth market with the availability of broadband services, said MLABS director of sales Nandanan Unni said.
MLABS is hoping to go for Mesdaq listing by early next year.
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