Loxley investing B100m to boost IT unit
Trading conglomerate Loxley Plc is investing over 100 million baht in cloud technology and its R&D business, aiming for its IT division to achieve revenue of 3.6 billion baht next year.
Saknarong Saengsngapong, president and chief executive of Loxley, said the group’s strategic overhaul for its IT companies, including Loxbit Plc, Professional Computer Co (PCC), NetOne Network Solution (Net1) and Loxley Orbit Co will help it reach its revenue goal of 3.6 billion baht.
Mr Saknarong said Loxley will focus more on strengthening its business portfolio by investing over 100 million baht in cloud development and system integration services, data analytics, big data, blockchain technology and cybersecurity.
The company has also developed a data gateway platform to serve business transactions in the private sector.
He said Loxley’s IT business is still outperforming other core businesses in terms of revenue and net profit. The company’s latest revenue report to the Stock Exchange of Thailand said IT accounted for 22% of the conglomerate’s 15.6 billion baht in revenue last year, registering 11% growth from 2016.
Under its new roadmap, Loxley Plc appointed its affiliated companies Loxley Orbit to take care of banking and insurance services. PCC will be responsible for the public sector and Net1 is scheduled to be in charge of network security and cybersecurity, including ISO9001, ISO20000, CMMI, ISO29110 and ITIL.
“Loxley’s IT companies are strong, with certified experts,” said Mr Saknarong. The investment in cloud and R&D services will allow the company to better tap into consumer demand, he said.
The move is also intended to reduce dependence on state projects revenue to ensure steady growth and sustain revenue in the long run.
Mr Saknarong said the group is also angling to mitigate uncertainty regarding state policies for project procurement.