Green Packet leverages on cloud computing

Company eyes cloud-computing solutions

“In the coming one to two years, the adoption of cloud computing will experience rapid growth across various industries.” CC Puan

PETALING JAYA: Green Packet Bhd will be diversifying its principal activities to include cloud-computing solutions, which will form a new income stream for the group.

In a press release yesterday, Green Packet said the proposed cloud computing business is a vital move to diversify and enable the company to bank on the opportunity to bring new seamless and digital experiences through cloud computing, thus leading to the creation of a digital nation.

The cloud computing business, which will be a key strategic pillar of Green Packet’s play in the digital and technology system, entails the delivery of on-demand computing services, from applications to storage and processing power.

Green Packet intends to focus on providing services, like Infrastructure as a Service (Iaas), that enable companies to build applications and have control over the fundamental building blocks of computing, Platform as a Service (Paas) which include the tools and software that are required to build applications, as well as Software as a Service (Saas) that allows companies to rent applications or software.

Cloud computing solutions help companies optimise business costs through an access to the cloud computing applications and storage from a cloud service provider, like Green Packet, which then eliminates the high cost and complexity of owning and maintaining the infrastructure.

According to Green Packet group MD and CEO CC Puan, the group is already offering Saas products on the cloud, such as Kipleid Electronic Know Your Customer (E-KYC),

Kiplepay e-wallet and Kiplelive.

“It is a big advantage for Green Packet to diversify into the cloud computing business as this gives us an upper hand to offer better and comprehensive solutions to our customers.

“In the coming one to two years, the adoption of cloud computing will experience rapid growth across various industries, especially with the convergence of next generation technologies such as 5G, artificial intelligence, and internet of things (IOT),” he said.

Puan is confident the group’s ventures into the cloud computing business will result in positive growth momentum.

The Malaysian cloud computing market is expected to be worth Us$3.7bil in 2024.

According to Analysis Mason Pte Ltd, the market value of Saas is expected to grow at a compound annual growth rate (CAGR) of 15% between 2020 to 2024.

Meanwhile, the market values for Iaas and Paas are expected to grow at a CAGR of 9% and 25% respectively, as more companies migrate to cloud services.

Puan added that the trend towards cloud adoption will accelerate further as the

Covid-19 pandemic fuels the digital transformation of the nation.

“The most difficult part of changing consumer behaviours and businesses priorities to embrace the new norm is somewhat done.

“Now, we are ushering Malaysians to live in the new norm by leveraging on digital technologies,” he said.

During the Covid-19 pandemic, Green Packet has built a digital platform for the Coalition of Malay Small Traders (GPPPKMM) to enable merchants and bazaar traders to resume business.

The group also launched its proptech flagship product called Kiplelive that has garnered overwhelming response from the corporate sector, schools, retail stores, factories, construction sites, banks, and hospitals.

Recently, Green Packet had also announced that it will provide an E-KYC solution, targeting Malaysia’s banking and financial institutions. The group, via its fintech brand Kiplepay, had also joined Visa’s Fintech Fast Track programme, thus expanding its product and solution offerings.