Newly appointed Ingenuity to Spearhead P1 Fiber Broadband Sales

Petaling Jaya, 27 August 2012 – Southeast Asia’s leading 4G broadband provider, Packet One Networks (Malaysia) Sdn Bhd (“P1”) appointed Unified Synergy Sdn Bhd, a subsidiary of Ingenuity Solutions Berhad (“Ingenuity”) as the distributor for its newly launched P1 fiber broadband for businesses known as P1 ForBiz™Fiber. The series of tie-ups reaffirm Ingenuity’s long-term commitment to building a stronger footprint in the local telecommunications distribution market. P1 ForBiz™ Fiber is the most competitively priced in the market specially targeted at SoHos and small and medium enterprises (SMEs) in the country. The signing ceremony was held at the P1 corporate office in Petaling Jaya between Low Gah Luen, Executive Director of Ingenuity and Michael Lai, Chief Executive Officer of P1.

P1 aims to provide businesses especially SoHos and SMEs with quality yet affordable all-in-one business communications package, incorporating high speed fiber optic Internet access with lowest price business voice call rates in the country.  In particular, the appointment of Unified Synergy Sdn Bhd as their distributor, a newly formed subsidiary of Ingenuity, will serve as a keystone in the plan to steer P1 broadband business revenue in Malaysia.

From left to right: Sean Hor, Director of Unified Synergy Sdn Bhd, Low Gah Luen, Executive Director of Ingenuity Solutions Berhad, Michael Lai, Chief Executive Officer of Packet One Networks (Malaysia) Sdn Bhd, Mike Lee, Director, Product Services of Packet One Networks (Malaysia) Sdn Bhd

“Once again, Ingenuity has emerged as the partner of choice for P1. We are highly excited about this opportunity and it’s a privilege to collaborate with P1 again on the fast growing broadband industry in Malaysia. This partnership is not only another testament to our expansion into the telecommunications foray, but also provides a highly synergistic, cost effective and seamless distribution channel for P1 ForBiz™ Fiber in both Peninsular and East Malaysia. Riding on this partnership, Ingenuity through its subsidiary Unified Synergy, targets to sell 15,000 lines within a year. Ingens Sdn Bhd a wholly-owned subsidiary of Ingenuity, was appointed the sole distributor for P1 4G WiMAX modem last April. This underlines Ingenuity’s proven strengths and highlights our depth and experience in ICT distribution, particularly in the business-to-business segment,” said Ingenuity’s Executive Director, Low Gah Luen.

According to Lai, “P1 believes the collaboration with Ingenuity would help accelerate the uptake of the business fiber Internet plan as P1 will aggressively market the product while riding on Ingenuity’s strong dealer network and logistics expertise in the country.  This area has immense growth opportunity because the high-speed broadband (HSBB) coverage for businesses in Malaysia is between 300,000 and 350,000, while only about 46,000 are fiber broadband users. This vast difference between coverage and users represents a huge untapped market segment and a golden business opportunity. P1 expects to sell 50,000 subscriptions over a period of two years”.

Now every SoHo and SME can have a preferred fiber Internet access at an affordable limited time promotion starting from RM99 per month for 5Mbps and RM199 per month for 20Mbps. All P1 ForBiz™ Fiber Internet plans come with free P1 Voice line and users can also enjoy amazing nationwide call rates of 15 cents per minute to any fixed or mobile phone lines locally.

The P1 signing comes less than two weeks after Ingenuity signed a partnership agreement with ZTE Malaysia as the sole local vendor for ZTE mobile devices in Malaysia. Ingenuity’s focus on the growing telecommunications segment and its aggressive plan to expand its reach further into this lucrative market augurs well for the Group as seen by its recent Group profit of RM3.2 million for the first quarter financial performance ended 30 June 2012/2013. This marks a key turnaround point for the Group from losses to profits after many quarters since 2006. The Group has set an internal full year revenue target of RM800 million and a profit of RM12.5 million for the current financial year ending March 2013. Currently, the plan is moving along well with the Group’s compartmentalized into four core businesses namely Business Software Solutions, System Integration & Services, IT Hardware and Software Distribution and Telecommunication Products & Distribution Services. Together with on-going improvements in its products line, acquisitions of strategic partners and synergistic partnerships, the Group is fairly optimistic to achieve its own internal target while expecting to seal a few more deals from several Telco partners by end of this year.  

Moving forward, Ingenuity is expanding and establishing a strong foothold in the telecommunications distribution and services segments apart from the computer hardware and off-the shelf software products to capture a bigger share in the ICT industry. While Ingenuity has traditionally been associated to the IT business, the business diversification is a sound strategy for expansion and will put the Group on the right track to move up to the Bursa’s Main Board within next 3 years.