Redtone ... Aug 2008

Hotgate Technology Inc, a software developer, expects to make a net profit of US$15 million (RM49.6 million) in fiscal 2009 as it expands in the region. The company, a unit of REDtone International Bhd, specialises in software for the hospitality sector. Its products help hotels to handle billings and pay-per-view offers, among others.

Hotgate expects to make a revenue of US$100 million (RM331 million) for the year ended May 31 2009. It has made inroads into China and aims to enter India as well. It is also targeting Thailand, the Middle East, Vietnam and the Philippines by May 2011.

Hotgate Inc, listed on the Over-The-Counter Bulletin Board (OTCBB) in the US, is 65 per cent owned by Hotgate Holdings Inc. REDtone holds 30 per cent of Hotgate Holdings.

Hotgate Malaysia, established in April 2008, is expected to post a revenue of US$15 million by May 2009. Its customers include among others Kenny Rogers, Starbucks, St Regis Hotel, Holiday Villa, Eastin Hotel and Four Seasons Hotel.