Formis in partnership talks with big IT service providers

by **Cals** Sun 21 Sep 2014, 18:48

Business & Markets 2014

Written by Levina Lim of theedgemalaysia.com

Friday, 19 September 2014 09:55

KUALA LUMPUR: Information and Communications Technology outfit Formis Resources Bhd is currently in discussions with large technology service providers to form partnerships that will help it “do bigger things”, especially in the area of innovation and disruptive technology.

“These discussions are all underway,” said Datuk Larry Gan, group chief executive officer of Formis after the company’s annual general meeting (AGM) and extraordinary general meeting yesterday.

Gan said these partnerships will help the firm tap into the large corporations’ clientele market, apart from growing its existing small and medium enterprises (SME) customer base. “For instance, we will go to a bank and figure out how to help them to adopt disruptive technologies and compete locally as well as regionally and globally,” he said.

For these initiatives, Formis will leverage on a new unit created within the group, dubbed “Omesti innovation lab” that provides a range of technology systems, services and solutions for financial institutions, government departments, utility and energy firms, and telecommunications.

“We have assembled a new team and this team comprises veterans in the industry as well as young people,” said Gan, adding that it aims to grow its number of staff to 200 from about 40 currently.

Formis’ resolution to change its name to Omesti Bhd was approved during the AGM.

“In new markets such as Myanmar and Cambodia, which are relatively backward in terms of infrastructure, we will tie up with local players and be more enterprising rather than [merely] providing consulting services,” he said.

Formis chairman Tan Sri Megat Najmuddin Megat Khas said Formis is in for “exciting times” as it rejuvenates itself to become a world-class technology company.”

This article first appeared in The Edge Financial Daily, on September 19, 2014.