KUALA LUMPUR: Newly-listed Kronologi Asia Bhd is in talks for a local partner to expand its enterprise data management (EDM) managed services business in Malaysia.

Group chief executive officer (CEO) Piti Pramotedham said the IT services provider is in discussions with several possibles but has yet to identify a potential partner.

EDM managed services are a subscription-based services that Kronologi Asia provides, ideal for companies that want to manage their risk arising from data loss, but lack the capability to do so in-house.

“We are looking for a partner that can provide us with data line connectivity, hosting capabilities and a go-to-market team,” he told reporters after the listing ceremony yesterday.

Pramotedham said the collaboration with a local partner is to avoid local legislation, which may prevent data storage or back-up outside of the country.

“In every country that we roll out EDM managed services, we have a local footprint. This is primarily because we don’t want to deal with local legislation,” he said.

On Kronologi Asia’s expansion plans on Vietnam, Myanmar and Sri Lanka, the firm is planning to establish a local presence there, whether directly or through partnership with a local company.

The firm already has an EDM infrastructure technology business there on an ad-hoc basis, said Pramotedham.

“We believe that once we have established a local presence, we will be able to drive a lot of growth for our business in the infrastructure technology segment,” he said. For next year, he declined to reveal the growth targets for the top line and bottom line, but said “we hope to grow a lot”. 

“Right now our focus is to execute those growth plans and to make sure it is well taken care of. We believe that will give us respectable and reasonable growth,” he said.

Kronologi Asia debuted on the ACE Market yesterday with an opening price of 33 sen. It ended its maiden trading day at 29.5 sen, up five sen from its initial public offering price, with 25 million shares done, giving it a market capitalisation of RM69.9 million.

This article first appeared in The Edge Financial Daily, on December 16, 2014.