Ingens said to be in lead for Rm125mil contract

PETALING JAYA: Ingenuity Solutions Bhd (Ingens) is at the forefront of obtaining a Rm125mil project to be the sole distributor of WIMAX modems for Packet One Networks (M) Sdn Bhd (P1).

Sources said Ingens, a distributor of information communication technology (ICT) products, was targeting a 6.5%-7.5% profit margin from this project, to be recognised mainly in its financial year ending March 31, 2013 (FY13). An agreement for this collaboration is expected to be signed this coming Tuesday.

Currently, the modems are being distributed by Green Packet Bhd, which is the parent company of PI. However, the distributorship rights were expected to be given to Ingens owing to the company’s large network of 500 resellers nationwide, the sources said.

If the partnership materialises, Ingens will distribute the entire range of modems, which includes the latest DX-230, a 3-in-1 WIMAX modem built in Wifi, voice ports, and local area network (LAN) ports for wireless 4G broadband. Ingens has been involved in the distribution of ICT hardware ranging from laptops, desktops, mobile devices and accessories, as well as being a vendor for telco operators.

The Ace-market company recorded a net loss of Rm1.4mil in FY11 on sales of some Rm6mil.

For the first nine months of the current FY12, Ingens had losses amounting to Rm1.9mil on sales of Rm26.5mil.

The sources said a partnership with PI could pave the way for the company to continue developing “go-to-market” strategies with WIMAX telco P1 over the longer term.