MalaysiaGIS.com

Source: The Star

Magni-Tech chairman and OTC chief executive officer Tan Sri Tan Kok Ping said after the company's AGM yesterday the research and development work for NavTrac was carried out in Penang.

"The product was also assembled here. We will be the first local company to introduce such a navigation system to the market," he said.

Tan added that OTC would also launch new and improved versions of V.Guard, a central monitoring system software for locating private vehicles, and Onguard, a global system for mobile communications-based alarm system for homes and offices.

"We have successfully penetrated the Indonesian and Kuwait markets with V.Guard. We are now exploring to export to Hong Kong, Australia and Brunei," he said.

Tan said the V.Guard had successfully made its presence felt among users of high-end vehicles in the country.

"V.Guard has captured about 80% of the national market share of high-end vehicles," he added.

Tan said Vtrac, a commercial vehicle locating system that can be customised to suit different needs, had captured about 60% of the logistic vehicles market.

The company has submitted an application to the relevant authorities to list OTC on the Mesdaq market early next year.

At the AGM, the shareholders also approved of a 5% dividend for the year ended April 30. The dividend will be paid out on Nov 10.