KarenSoft to go global with productivity suites TheEdge Daily, Thursday, September 02, 2004 KarenSoft Technology Bhd is targeting the global market with the expected launch of its "productivity suites" of solutions by the fourth quarter, says its executive chairman Chee Chong Hwa. He said the new solutions had a global market size worth RM450 million annually, which is expected to reach RM600 million by 2008. “We are targeting to capture 10% of the global market size from 2005 onwards,” he added, citing that KarenSoft would market the products in emerging markets such as the Middle Eastern countries. Chee said the new solutions would give maximum revenue at minimum cost, but declined to elaborate. He said KarenSoft expected its overseas sales to account for more than half of its total revenue for its financial year (FY) ending Dec 31, 2005, against an estimated 10% in FY2004, as it embarks on an aggressive drive abroad. KarenSoft also marked its entry into the Thailand market with its ERP2 system after sealing an agreement with a Thai consultancy firm, SI Management Consultants Co Ltd in Kuala Lumpur on Sept 2. SI is targeting RM2.5 million sales over the next 12 months from the estimated 2,500 local manufacturing enterprises in Thailand. “This means that there is a ready market of approximately RM375 million for the KarenSoft ERP2 system in Thailand,” director of SI Leong Kin Mun said. By Doreen Leong