Privasia to accelerate satellite hub expansion

PETALING JAYA: Privasia Technology Bhd plans to expand its satellite-based business by undertaking the second phase of its recently commissioned satellite hub in Cyberjaya, to fully serve its existing customers, capture new markets and mitigate foreign exchange risks.
Previously, Privasia announced that it has allocated RM3 million for the satellite hub expansion, of which RM1.2 million was apportioned for the second phase.
"We have charted good progress in migrating a portion of customers to our new hub since its commencement," its CEO and managing director Puvanesan Subenthiran said.
"However with the stronger US dollar in recent months, we incurred higher bandwidth leasing costs from an existing service provider which were denominated in USD," he added.
Therefore, Puvanesan said the company decided to accelerate its second phase of the satellite hub expansion plan in 2016, to facilitate the full migration of clientele and minimize the impact of forex fluctuations.
He said the expansion would also allow its ample capacity to attract new clientele from the oil and gas, maritime, tourism and hospitality and security sectors.
In line with the current economic conditions, Puvanesan said the company will look to beef up its orderbook that stands at RM122 million currently, which will keep it busy until 2020.
"Besides that, internally we are looking to maintain cost optimization and improve operations efficiency across the group's various business segments," he concluded.
Privasia is a leading ICT and business process outsourcing player in Malaysia. Its principal business activities include ICT outsourcing, business process outsourcing, provision of proprietary spend management solutions and provision of satellite-based network services.