RM1B REVENUE BY 2018
redONE banks on S-E Asian expansion to achieve target
TELECOMMUNICATIONS company red ONE Network Sdn Bhd (redONE) is a step closer to becoming a RM1 billion company with more revenue streams coming online and a growing customer base in Southeast Asia.
Founder and chief sales officer Ben Teh said redONE was in the midst of expanding into Singapore, Thailand, Indonesia, the Philippines and Vietnam.
“In Malaysia alone, we have more than a million customers. By year-end, we are targeting one million prepaid and 1.5 million postpaid customers.
“In terms of revenue, we are confident of achieving at least RM500 million this year. Hopefully, by 2018, we are a RM1 billion company after expanding our network in Southeast Asia,” he said at the launch of Acestar Sdn Bhd’s Adobe Certified Associate (ACA) Championship, here, yesterday.
“We hope to start our Singapore operations by the fourth quarter of this year.
“We will announce our spectrum partner in Singapore next month. After that, we will move to other countries.”
Teh said redONE would leverage its high customer base to diversify its revenue streams by venturing into digital advertising and financial technology.
“We will kick-start new ventures in these areas this year as well. We have allocated RM5 million for this venture,” he said.
Yesterday, Acestar, in a collaboration with redONE and Adobe Systems, launched its annual ACA World Championship in Malaysia to enable local students to compete with their peers from all over the world.
The global competition aims to identify the next generation of design professionals using Adobe Photoshop, Adobe Illustrator and Adobe InDesign.
It is open for those aged between 13 and 22 and they can sign up online.
Last year, of the more than 230,000 entries submitted globally, 33 students were selected to compete in Orlando, Florida, for the championship title.
Acestar-sponsored Malaysian Nicholas Ng Hwa Ee won the second prize last year.
Acestar expects participation among Malaysian students to at least double this year.