Red Ideas in 'active negotiations' with potential regional partners

PETALING JAYA: Home-grown technology company Red Ideas Holdings Bhd, which is hoping to penetrate the Southeast Asian market this year, is in active negotiations with potential partners in Thailand, the Philippines and Indonesia.
The LEAP Market-listed company is the developer of a mobile application-based community solutions platform called Graaab JaGaApp, which is designed to enhance security, communication and convenience in residential and commercial communities.
The app includes features such as an emergency button, wireless intercom, real-time notices of billings and meetings, quick visitor registration and facility bookings, which replaces the traditional wired intercom and logbook systems.
"Currently we are in active negotiations in Thailand, the Philippines and Indonesia but nothing is concrete yet ... we are hopeful that it will happen this year; of course the faster we grow the better," Red Ideas co-founder and director Ignatius Ho told SunBiz recently.
"We have also received enquiries from Nigeria, but for now we are still exploring the Southeast Asian market as it is more similar to the Malaysian context," its co-founder and director David Foo added.
Currently, Ho said, the company is still relatively focused on their expansion in the West Coast of Peninsular Malaysia.
He noted that there is still a lot of room to grow in the area, in major cities such as Ipoh, Penang, Kuala Lumpur, Johor Baru as well as Malacca.
"The market (in the West Coast) is pretty big for us and is vastly untapped, but we have also received some enquiries from Kuching and Kota Kinabalu, and we are also in talks with them," Foo said.
At present, he said, the company has over 210 customers, with the majority (80%) in the Klang Valley, followed by Penang (10%) and Johor Baru (5%), comprising mainly property managers and developers as well as individuals.
Foo said the company is partnering with more than 15 local property developers, including IJM Land and Sunsuria. However, he noted that the bigger part of its market currently is the property management companies.
"About 3% to 4% of our portfolio are from commercial and industrial properties and 96%-97% are residential, out of that, 55% are stratified properties and the rest are landed individual-titled properties," he added.