Boardroom Eyes Over 25 Pct Revenue Contribution From Malaysia

KUALA LUMPUR, April 3 (Bernama) -- BoardRoom Ltd, a Singapore-listed corporate business solutions provider, is eyeing more than 25 per cent revenue contribution from Malaysia operations by year-end following the completion of its merger with Symphony Group of Companies. Malaysia contributed around 11 to 12 per cent of BoardRoom’s revenue last year, up from 9.8 per cent recorded the year before. BoardRoom Group chief executive officer (CEO) Kim Teo said the company was gearing up to strengthen its business development, sales and client engagement teams with added services tools that clients can use to drive their business. "We are optimistic about Malaysia, hence the merger. We see Malaysia as one of the significant capital markets with huge potential and I think it will realise its full potential with some changes in terms of corporate and political landscape, which we believe is settling down. "We should see Malaysia (economy) come back with a strong growth and we want to be positioned for that," he told a press conference after officiating the rebranding of the companies BoardRoom recently merged with. On Feb 1, 2019, BoardRoom completed the acquisition of Symphony Corporatehouse Sdn Bhd, Sky Corporate Services Sdn Bhd, Symphony Share Registrars Sdn Bhd and Malaysian Issuing House Sdn Bhd (collectively known as Symphony Group of Companies) With the merger, BoardRoom has emerged as Malaysia’s largest corporate services provider, commanding an industry-leading combined market share in the share registry as well as corporate secretarial sector. To date, BoardRoom has a presence in Singapore, Australia, Hong Kong, China and Malaysia along with 22 other partners around the globe. Kim said following the merger, the expanded regional footprint had enabled BoardRoom to focus on servicing its clients more through innovations and technologies. Meanwhile, BoardRoom Malaysia CEO Samantha Thai expected revenue from the Malaysia market to record a double-digit growth this year supported by new services introduction and stronger regional markets presence. "We are hoping to leverage on technology that brings efficiency and effectiveness as the main differentiating factor among our peers," she said. Kim did not rule out the possibility of a listing on Bursa Malaysia but the company "has no plans for (it) at this time". BoardRoom currently has over 7,300 clients globally, out of which 30-35 per cent are Malaysian companies. -- BERNAMA