Cartrack sees Singapore as launchpad for world domination plans
By Digital News Asia November 26, 2015
- Sees strong SME takeup across Asia, helped in part by government grants
- Sets up control centre in Johor to offer stronger on-the-road support
SOUTH African-founded Cartrack said it plans to tap on Singapore as its launch pad for global growth, even as it recorded an 18% increase in global revenue.
Cartrack, which provides fleet management, insurance telematics and vehicle tracking and recovery solutions, recorded global revenue over the six-month period from March to August 2015 of S$47 million (US$33 million).
As at Aug 31, it had 463,000 paying subscribers worldwide, and projects this number to grow to 500,000 by the end of this year.
Cartrack attributed its performance to the growth in the number of vehicles and the current focus on resource optimisation, road safety and vehicle pollution management among governments and corporate entities.
Another contributing factor was its investment in building up on awareness of its brand, and strengthening its channel network across Asia Pacific, Europe and the Middle East, it said in a statement.
Furthermore, Cartrack has benefitted from a strong take up of its fleet management solutions among small and medium enterprise (SME) customers.
In Singapore, for instance, many SMEs have adopted Cartrack solutions, tapping on grants from the Singapore Government that are designed to encourage the deployment of IT solutions to boost productivity and growth, the company said.
“There is no doubt that Singapore will be the ideal location for us to incubate our technology roadmap, as we further drive innovation and find technological breakthroughs in our solution offerings,” said Cartrack Singapore technical director Ken Yap.
The past six months also saw Cartrack set up a control centre in Johor, Malaysia, a geographically strategic location between the two major cities of Kuala Lumpur and Singapore.
The move allows Cartrack to rapidly access and provide support to customers on the road, and deploy a quick response recovery team in the event of a reported vehicle theft.
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