(Kuala Lumpur - Bernama)
Nextnation Communication Bhd will focus on building up and growing up and growing new operations in China and India, two of the world's largest mobile markets.
Chief Executive Officer/Managing Director, Teh Por Yee, said the group was currently finalising its business operation expansion in India and hoped to get it done in the next six months.
"We plan to work with our partner and has already started recruiting people," he told reportes after the group's Annual General Meeting here Wednesday.
Tey said the group recently invested RM 10 million (US1=RM 3.67) to set up a business operation in China. "The company is 50 percent owned by Nextnation."
"Beside China, we have also expanded our operations to Singapore, Thailand, Indonesia, Brunei, Australia and Americas for the past 18 months," he said.
He said Nextnation expected 70 percent of its revenue for the current financial year to come from overseas operations.
"In two to three years, we expect the bulk of the overseas revenue to come from India and China and demand for mobile applications is still growing very fast," he said.
He said the group, which plan to transfer its listing to the main board within the next one year, expected to record a double - digit profit growth whis year. " For financial year ended APril 30,2006, the group recorded a revenue of RM 67.4 million and net profit of RM 16.7 million," he said.
Nextnation develops multimedia application platforms and solutions for developers, marketers, distributors and re-sellers of consumer wireless content and applications.
Appeared in KPLNews - Regional News Section