KarenSoft expands presence in Chinese City Business Times, Tuesday, May 11, 2004 PENANG-based software developer KarenSoft Technology Bhd (KarenSoft) has expanded its presence in Yangzhou, China, through a new wholly-owned subsidiary, KarenSoft China Venture Sdn Bhd. The subsidiary, set up last month, is the sole provider of enterprise solutions to small- and medium-sized enterprises (SMES) in the city. KarenSoft executive chairman and chief executive officer Chee Chong Hwa said that together with new product launches, the company aims to be the leading ERP2 (enterprise resources provider) and customer relationship management (CRM) provider in Asia Pacific. Following incorporation of the subsidiary, the company will unveil new products, such as the recently-launched KarenSoft Membership-based ERP system, jointly developed with the Malaysian Institute of Accountants. "I see a tremendous market for this product, not only in Malaysia but also in other countries, and we are targeting six new customers for this application," he told reporters after chairing KarenSoft's sixth annual general meeting in Penang yesterday. The KarenSoft ERP2 is a complete e­business solution comprising seven cycles: sales and distribution, materials requirement planning, procurement control, planning and production, financial accounting and fixed assets, human resources information and CRM. Chee said the company plans to provide enterprise solutions to 1,600 SMEs in Yangzhou, with a ready market value of RM200,000 per customer. Listed on Bursa Malaysia Bhd's Mesdaq Market, KarenSoft also plans to enter markets in Thailand and Iran. By AIDA AHMAD