Incorporated in 2000, MyKRIS International Berhad has grown into an award-winning technology provider with a listing on Bursa Malaysia’s LEAP Market in October 2018. MyIT sat down with Managing Director Chew Choo Soon and Executive Director Chang Wai Hoong to speak on the company’s evolution and Malaysia’s readiness for the onslaught of Industry 4.0 Revolution.
By Chiahui Photos by Song@Picture This Studio
Today MyKRIS is a Tier-1 licensed Internet content and service provider specializing in offering premium managed broadband services, one-stop high speed Internet access services, web-based application software and e-commerce solutions.
It as among the few service providers that are able to offer a Service Level Agreement (SLA) with a guaranteed uptime of 99.3% to 99.9%.
On 22 February 2006, MyKRIS Net was awarded the Multimedia Super Coridor (MSC) status of its contributions to the development of Wireless and Internet Gateway applications and support for Malaysia’s knowledge economy initiatives.
The following year sae MyKRIS Net being awarded Pioneer Status on 1 October 2007 by the Malaysian Ministry of Finance in recognition of the company’s contribution towards producing world class homegrown solutions and products.
Before the two head anchors started MyKRIS, Chew Choo Soon and Chang Wai Hoong were already experts in network systems integration. As Chew puts it, the business model of the company that they were working for was on a project basis.
“The business model for system integration solution then was hard to upkeep. Since it was on a project basis, I felt that it was hardly sustainable in the long run. We both felt that we could do better.”
“To have a sustainable business, we looked into having a recurring business model, hence it relied upon a tiered subscription model. We must also ensure the after sales service is top-notch, for example, good response time and flexible bandwidth,” he said.
Chew shared that MyKRIS, for the first five years, has to resolve a number of technology challenges to meet the high standards they set for themselves. In the early days, a decision was made to provide wireless connectivity service so the company didn’t need to lease fiber optic cables.
“About 18 years ago, wireless connectivity has an image issue. This was because many customers had bad experiences when they first tired wireless services. So, it was an uphill task to ensure they would not encounter such issues with MyKRIS.”
“We looked into equipment by 30-odd vendors and did not find the equipment to meet all our requirements. Instead, we took it upon ourselves to re-engineer the equipment that we needed.”
“We took the best components from different vendors so the equipment met all performance and cost requirements. I’m very proud to have clients who have been with us since the early years. I believe our unique selling points speak for themselves.”
From 2011 onwards, MyKRIS worked with Telekom Malaysia to create hybrid networks for its customers. A robust microwave wireless network is complemented with fiber network to ensure reach.
The technology solutions by MyKRIS is capable of redirecting traffic, managing flexible bandwidth and anti-weather. It also allows for a seamless systems integration as MyKRIS manages the multiple service providers that their clients might use.
“In this way, our clients only need to come to us and not deal with different service providers,” said Chew. “With the exceptional rises of application-based usage, our customers expect a highly reliable connectivity, especially those in mission-critical industries, e-commerce, and so on.”
In 2008, MyKRIS was preparing to list on the Bursa Malaysia’s ACE Market. However, its two-year preparation and investment were put on hold based on advice form its bankers. In 2011, MyKRIS looked to the New Zealand Exchange Alternative Market (NZAX) as there was an option to have a dual listing in Australia.
By 2012, MyKRIS Limited was successfully listed on the NZAX. During that time, the company was involved in financial activities to boost its presence in New Zealand.
“Although we later brought back the business to Malaysia in 2015, we had learnt a lot about corporate governance, compliance, and other market related components. The knowledge and insight were invaluable when we were finally listed on Bursa Malaysia’s LEAP (Leading Entrepreneur Accelerator Platform) Market in early October 2018,” said Chew.
MyKRIS International Bhd make its debut on LEAP at 23 sen, a three sen premium obver the initial offer price. At the opening bell, 39.99 million shares were traded.
The company was the 10th company to be listed on LEAP and expected to raise RM8 million through this listing. “The LEAP listing is a pre-ACE exercise for MyKRIS. We are expecting an ACE listing in June 2019,” he said.
In view of all the exciting plans ahead, MyKRIS recognises the importance of transforming their workforce.
“In order to grow as a company, we have to cultivate a strong corporate culture, give our people a sense of belonging and purpose as well as nurture a healthy employee-employer relationship.”
“Since taking measure to do so since 2012, we are reaping the results in recent years. Based on our internal employee surveys, we found that our talents strongly believe in the company. The have improved competencies as well,” said Chew.
He added that while customers are the foundation of the business, employees are the assets. The company was presented with the Silver Award for Best Employer of the Year at the recent SOBA Award ceremony.
Chang, who is responsible for business development and strategic partnerships, shared the company’s expansion into Johor Bahru and Penang. While Penang has a full-fledged office and team, Johor Bahru will be equipped with a similar setup in the coming months.
“We are also expanding into Sabah and Sarawak to strengthen our presence in Malaysia. As for international reach, we are actively looking for good local partners in Myanmar, Vietnam, Indonesia, Singapore, Cambodia and Thailand.”
“We expect to leverage on the local partners to implement our high standards and SOPs. While the different countries have their own set of challenges, we are confident that our fully resilient solutions will work well to spearhead their business into the digital age,” he said.
Chang added that the presence of MyKRIS regionally will enable them to attract new customers, increase customer base, and deploy their customised managed network services and technology.
Its latest MyKRIS 360 Inclusion Network Services is an end-to-end approach to people and business, with a solution that includes hybrid net, manages services and managed security.
“Security is a priority for our mission-critical customers. Before we implement our services and solutions, we send out teams to conduct consultations to assess your information security.”
“We will conduct interviews with key business department heads, review network architecture and security setups, provide advisory services on security protection, and documentations on security framework and road map.”
He said after the consultations, MyKRIS will customise a plan, addressing loopholes, security concerns and usage. “We are flexible enough to deploy services that our customers really need. Not everyone needs the highest levels of security and bandwidth. We are also able to accommodate any special needs, for example, e-commerce clients will need extra security and bandwidth for the Singles’ Day cybersale.”