Palette to Focus On Russia, ASEAN Marts In FY18

KUALA LUMPUR, Nov 15 (Bernama) -- A Malaysia-based company, Palette Multimedia Bhd will aggressively push its products into the Russian market and outline strategies to penetrate that of the Association of South-East Asian Nations (ASEAN) in the financial year ending May 31, 2018 (FY18). Chairman/Managing Director, Eg Kah Yee, said currently, Russia contributed 90 per cent of its revenue, while iMedic software for healthcare and the cloud platform both contributed evenly to the revenue. “The reason why the Russian market takes off now is because the government is driving the market (technology adoption in healthcare sector), while for the other market, the governments have not passed the laws to allow that yet,” he said after the company’s annual general meeting on Wednesday. He said the company would continue to strengthen and deepen the presence in Russia, China and countries like Taiwan and Singapore. On the current order book, Eg said, it stood at US$8.38 million (RM35 million), of which products worth US$2.63 million (RM11 million) had been shipped in the last two quarters. “We will probably ship out the remaining US$5.74 million (RM24 million) in the third and fourth quarter as we are now already in the second quarter,” he said, adding that the company was actively bidding for new contracts in the big markets. Palette Multimedia Bhd engaged in investment holding and design, development and marketing of information technology (IT) related products and services. -- BERNAMA