PETALING JAYA: Two mechanical engineering graduates built a leap of religion to get started a small business in a whole distinct industry – data and communications technological innovation (ICT).
Again then, the Internet had only existed for seven decades in Malaysia and number of people today experienced own desktops at household, but new graduates Ko Yun Hung and Kelvin Pah Wai Onn decided to located SNS Network, a sole proprietorship that presented ICT goods and associated providers.
The final decision has paid out off handsomely for the duo who have turned their little organization in Ipoh, Perak, into one of the premier reseller of ICT solutions in Malaysia by profits with annual revenue of much more than RM1bil.
The ICT company has rebranded to SNS Network Technology Bhd pursuing its swift progress with varied purchasers ranging from specific buyers to federal government-linked companies and firms.
Ko and Pah, who are the running director and the executive director respectively, just lately introduced the prospectus of the corporation trying to find a listing on the ACE Industry of Bursa Malaysia to raise clean money to fund its company expansion programs.
Ko and Pah believe the ICT market has a lot of small business possibilities to faucet into.
“The ICT sector is usually appealing. Ahead of it was known as the IT sector and was a new business that was blooming at that time. I selected this business simply because of the opportunities the business offered.
“My mother and father served me to start out the business enterprise with my small business associate and classmate Pah, whose mother contributed to our enterprise money. As clean graduates we did not have cash to start out a company, but we had lots of wild ideas,” Ko instructed StarBiz.
He claimed it was not easy to realize success in this industry because of to loads of competitors with newcomers and big measurement resellers.
“We chose SNS’s positioning cautiously and the concentrate on markets we required to provide. We identified our area of interest and made guaranteed we produce and so we have grown in toughness above the several years.
“This market nonetheless has a brilliant foreseeable future mainly because things are often changing. For instance, soon after the Covid-19 pandemic, the variety of buyers surged in our business, which interprets into a lot of prospects,” he explained.
SNS Network’s advancement over the a long time experienced faced its difficulties, Ko mentioned.
“The key obstacle we are facing now is expertise. Receiving the suitable expertise is extremely vital. The ICT field is not effortless for individuals to adopt because there is generally new awareness and things are switching promptly in the sector.
“The commitment is that we have to make absolutely sure our individuals are qualified to preserve themselves up to day with the most current expertise and knowledge in the field.
“Besides delivering instruction, retaining folks is the problem. Our future original public presenting (IPO) is an prospect for our staff members to participate in the company’s equity.
“We have to offer a greater platform to allow for workforce to have a far better profession route,” he stated.
He advised individuals who want to venture into the ICT market to have the motivation to in no way-ending improvement.
“There are normally new matters taking place and new variations in the ICT sector in phrases of solution understanding, technology, and solution pricing. This business moves incredibly rapidly.
“Skills and expertise you acquired 6 months in the past can be irrelevant now. Know-how you obtained these days will develop into obsolete in three many years.
“If you want to enterprise into this sector you have to like what you are performing and to grasp the ever evolving knowledge. These are the conditions to be productive in the marketplace,” he said.
SNS’s IPO shares are open up for subscription until finally Aug 18, 2022, with its listing scheduled for Sept 2, 2022.
The corporation intends to raise RM90.7mil from the issuing 362.9 million new SNS shares, representing 22.5% of the enlarged share money, at an challenge value of 25 sen for each share.
SNS will use the proceeds from the IPO for money expenditure to develop the company’s Desktop as a Support (DaaS) subscription-centered support and to partly finance the construction of its new regional hub. DaaS is a design for machine leasing provided to clients centered on month to month membership payments.
The remaining proceeds will be applied to set up 10 new retail retailers, to fund internet marketing things to do for its property brand name JOI, repay bank borrowings and for working funds as nicely as defray the listing fees.
SNS’ core business enterprise things to do are sale of ICT products and solutions comprising hardware, devices and similar peripherals of 3rd-occasion brand names and JOI by using its actual physical suppliers and on the internet and business channels.
It also supplies gadget restore and associated expert services for Apple as very well as sale of broadband providers for Telekom Malaysia, Celcom, Maxis, and other telcos.
SNS Network at the moment has 18 retail merchants in Low Yat Plaza and 6 in Electronic Mall.