This article first appeared in The Edge Financial Daily on November 21, 2017

KUALA LUMPUR: Kronologi Asia Bhd, whose share price hit a record high of RM1.25 early this month, has partnered Temasek Holdings Pte Ltd’s unit to provide data backup service.

In a filing with Bursa Malaysia yesterday, Kronologi said its wholly-owned subsidiary Kronicles (Singapore) Pte Ltd (Kronicles Singapore) had signed an agreement with Trusted Source Pte Ltd, a subsidiary of Temasek Management Services, which is in turn a member of Temasek Holdings, on the collaboration.

Trusted Source offers end-to-end business and technology services, information technology (IT) services and solutions including IT infrastructure and security, application development and business intelligence, enterprise management services, project management and electronic polling.

Under the partnership, Trusted Source and Kronicles Singapore will provide private data backup service to the former’s subsidiaries.

Trusted Source intends to launch a regional disaster recovery centre to support the regional data needs of its network of subsidiary companies. This centre will use Singapore as a physical point of presence.

Through this partnership, both parties hope to cater to the growing demand for data storage and protection solutions.

Kronicles Singapore will invest in new equipment and services to be installed at Trusted Source’s new disaster recovery centre located in Singapore.

With this partnership, Trusted Source will be able to extend data backup, data storage and protection services to its customers within the Temasek group, as well as external clients.

In a joint statement yesterday, Kronologi acting chief executive officer Philip Teo said the addition of Trusted Source as the group’s partner is a strong endorsement of Kronologi’s capability and reliability.

“We are excited about this partnership with Trusted Source for the value-added data backup service which employs a private cloud architecture. The service has already attracted new subscribers and we are confident it will enable us to deliver value to Trusted Source’s customers within the group and beyond,” he said.

Meanwhile, Trusted Source senior vice-president Desmond Aw said the collaboration with Kronicles Singapore shows the company’s commitment to strengthening data backup and protection to its internal and external customers with the intent to expand the service to many locations in Asia.

“It is the ideal solution for us to meet our growing needs for enhanced data storage and protection services,” he said.

Year to date, the counter has more than tripled from 31 sen on Dec 29 last year. Kronologi’s share price fell 1.5 sen to close at 99.5 sen yesterday, giving it a market capitalisation of RM295.89 million.