Extol MSC to grow foreign business

  • Business
  • Wednesday, 23 Jan 2008

PETALING JAYA: Information and communications technology security solutions provider Extol MSC Bhd is seeking more foreign partnerships to boost its revenue.  

Chief executive officer Justin Tan said the company would focus on Asia and the Middle East this year to achieve its three-year target of growing its overseas revenue to 60% of total revenue. 

“Asia and the Middle East are two convenient areas for us to venture further because we know more about their business culture than in Europe, the US or Australia,” he told reporters after receiving an award from Deloitte KassimChan senior partner Robert Tan yesterday. 

Extol was ranked 53rd at the recent Deloitte Technology Fast 500 Award, held in Hong Kong, for its three-year average revenue growth of 824%. Malaysia was represented by 17 companies at the event. 

Justin Tan (right) receiving the award from Robert Tan.

The award, launched in 2002, is a ranking programme of the 500 fastest growing technology companies in Asia Pacific. 

Extol currently has a presence in London, New York, Shanghai, Hanoi, Jakarta and Hong Kong. 

Tan said Vietnam and Indonesia would be its first regional targets for now. 

“We will look for more partners in Vietnam and Indonesia instead of starting offices there,” he said, adding that it currently had some small partners in these countries. 

Currently, Extol's overseas markets contributed less than 10% to its total revenue. The company expected their contribution to hit its 60% target by 2010. 

Recently, Extol signed an agreement with Benz International to establish a security operations centre in Dubai. 

Extol's main clients are still mainly from the financial services sector. Tan said the rationale was that banks, for example, had higher security concerns than production or trading companies. 

He stressed that Extol also planned to develop products that could efficiently detect computer fraud and virus attacks.  

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