N2N ... Jun10

N2N Connect Bhd, which develops capital market trading and technical charting system, expects its cross-border business to contribute at least 30 per cent to revenue this year from about 15 per cent currently.

They are now working closely with local partners and hope a few brokers will sign up to achieve the target.
N2N recorded a pre-tax loss of RM485,000 in its first quarter of 2010, versus a loss of RM4.2 million in same quarter last year.

Revenue rose to RM3.9 million from RM3.8 million previously with e-broking trading business as the main contributor.
The company was currently in talks with five parties and hoped to secure at least 10 new clients for 2010. These possible overseas clients are from Singapore, Vietnam, Indonesia as well as Europe.

The company was also planning to widen its current markets in Singapore, Vietnam and Indonesia.

It will also continue its focus on research and development (R&D) actitivities in order to maintain its competitiveness and to develop fresh, innovative services.

It will spend at least 10 per cent of its revenue for R&D and we also plan to increase the number of our R&D team from about 50-60 people currently.

Having been in the ICT industry for more than 25 years, the company has developed a suite of solutions and services through multi-channels such as personal computer (PC), personal digital assistant (PDA) and mobile phones.

Its trading solutions, Global Connect, which allows cross-border trading, and the Tc Pro-Professional Trading System are major contributors to its revenue.