Kuala Lumpur, Feb 15 (Asia Pulse) - Leading Malaysian electronic security seal manufacturer Abric Bhd is confident it can exceed its 20-percent projected growth for this year with the help of a newly developed digital sea and internet information tracker.
Developed by E-LOCKED dotcom Inc, the digital seal to be launched on June 1, 2000, is the first of its kind in the world and allows Abric to tap the rapidly expanding net economy as a one-stop solution provider in the security seal industry.
Abric's wholly-owned subsidiary Abric Worldwide Sdn Bhd owns a 70-percent equity in E-LOCKED dotcom Inc, which was incorporated in Florida, USA while Rising Star Overseas Ltd holds the remaining 30 percent.
E-LOCKED chief software engineer Daniel Tonetti said today customers using this product could electronically seal their goods or data via an electronic data interchange infrastructure on the internet and track them using event tracking or position tracking mode.
Speaking at a press conference here, he said as the goods or data were sealed with digital keys, the companies are guaranteed on the security of the goods and information they are moving. However, Tonetti stressed that the digital seal was not a totally new product but rather, new technology was applied with Abric's existing products to give the company a cutting edge over its competitors.
Chief corporate strategist for E-LOCKED, Derek Wong, said the digital seal would provide an immediate spin-off demand for the group's existing products as it provided a wider array of security sealing solutions. The immediate target for its new product would be Abric's existing customers which included the "Fortune 500" companies and corporates.
"We will tag this new product along with our existing products (polymer and electronic seal) and together, they will give us the edge over our competitors as we are providing a total security solution," he said.
Meanwhile, after acquiring the world's largest electronic seal manufacturer Encrypta Electronics Ltd last year, Abric is now negotiating to acquire another rival company - a small and medium size US-based security seal manufacturer - to put it on a stronger footing in the global security seal industry. "This company has a unique product and has a strong niche market.
This new product would certainly complement our already wide range of security seals," Wong said. Abric, which was listed on the Second Board of the KLSE last year, is seeking a transfer to the Main Board.