By DAVID TAN
GEORGE TOWN: YGL Convergence Bhd expects to returns from
its investments in Hong Kong and China in 2009.
Chief executive officer Yeap Kong Chean said YGL had
invested over RM2mil in Hong Kong and China since 2006.
“Our decision to go into these markets was right.
“We have implemented US software solutions for the Hong
Kong subway system, the Hong Kong Public Library, the Hong
Kong Justice Department, and the Hong Kong Efficiency Unit,”
he told reporters after the company AGM yesterday.
“In China, we expect to secure customers for our own
brand of software products, such as the ALBERgo, a
hospitality solutions product,” he said.
The group recently set up YGL iBay International Sdn Bhd,
a joint-venture company, to handle the business in Hong Kong
and China.
Yeap said ALBERgo and the group’s other product, TAXcom
(a tax solutions software), together contributed about 40%
to group revenue.
“We expect to increase their revenue contribution to
about 60% in three years,” he said.
He added that YGL was well positioned to be the
dominating business application provider in the Asia region,
due to its networks in South-East Asia and China.
For the first quarter ended March 31, YGL posted pre-tax
profit of RM429,000 on revenue of RM2.9mil, compared with
RM716,000 and RM3mil respectively in the previous
corresponding period.
