Solutions Protocol is subsidiary of Sharikat Permodalan Kebangsaan Bhd, the holding company of listed SPK-Sentosa Corp Bhd. Its CEO is Dr. Azman Ahmad, and engineer by training and a director of SPK-Sentosa. It was awarded RM 665 million contract to build an integrated hospital information and communication technology system for 13 government hospitals in the country, on March 2002 by the Public Works Department.
So far, they have completed 3/13 for the project. These three hospital are Serdang, Kepala Batas and Lahad Datu.
Even though having blessed with such big project Solutions Protocol is reported to suffer loss after tax of RM 45.8 million in its financial year ended Dec 31, 2004, despite reporting for a revenue of RM 116 million. The company also had liability of RM 75.1 million. While Kompakar reported profit after tax of RM 9.4 million in 2004, on revenue of RM 144.6 million.
While Kompakar eHealth Tech is building the hospital information system (HIS) for Putrajaya Hospital. Previous projects of similar type are Pantai Medical Centre, Bangsar; Hospital Pantai Indah, Kuala Lumpur; Hospital Pantai Mutiara, Penang and Klang as well as Gleneagles Medical Centre in Penang.
Kompakar also recently delivered a queue management system to Cong Ming Hospital in Shanghai and secured a RM 1.5 million deal from Beijing Plastic Surgery Hospital do HIS.
Kompakar shareholders include Datuk Seri Tunku Shahabuddin Burhanuddin, whos is also the E.D. Tunku is a royalty from Negeri Sembilan and is also the vice-chairman of Mesdaq Market-listed Iris Corp Bhd. Other shareholders are Looi Kien Leong, former Pikom chairman and also Dauk Mokhzani Mahatir.
Reason for Delay ?
1. Ministry of Health officials complained the quality and speed of work delivered by Solutions Protocol.
2. Out of the 13 hospital, only 4 had been completed.
MBO (Management Buyout)
More than a year ago, there was an attempt by members of Solution Protocol's senior management to conduct a MBO of their company. A group of senior management approached a number of financial institution and venture capitalists to fund the MBO. However, it didn't materialize.
- Original content from The Edge, Feb 20, 06.
Conclusion:
According to Industry expert, this is because Kompakar is one of the giant in for the IT industry in Malaysia. Others in the same category are Formis, Sapura, HighTech Padu and even Machine Niaga. These companies have the cash-flow to cater for big projects such as the HIS case mentioned above.
Therefore, the deals for which a company will get is not solely dependent on the effectiveness of business development team and the strengths of its technical team. Authorized and paid-up capitals must also be factored into the big picture.
Even vendor programs from industry giant such as Telekom, Tenaga, Petronas and etc also have the requirement for minimum paid-up capital of RM 100 k.
So far, they have completed 3/13 for the project. These three hospital are Serdang, Kepala Batas and Lahad Datu.
Even though having blessed with such big project Solutions Protocol is reported to suffer loss after tax of RM 45.8 million in its financial year ended Dec 31, 2004, despite reporting for a revenue of RM 116 million. The company also had liability of RM 75.1 million. While Kompakar reported profit after tax of RM 9.4 million in 2004, on revenue of RM 144.6 million.
While Kompakar eHealth Tech is building the hospital information system (HIS) for Putrajaya Hospital. Previous projects of similar type are Pantai Medical Centre, Bangsar; Hospital Pantai Indah, Kuala Lumpur; Hospital Pantai Mutiara, Penang and Klang as well as Gleneagles Medical Centre in Penang.
Kompakar also recently delivered a queue management system to Cong Ming Hospital in Shanghai and secured a RM 1.5 million deal from Beijing Plastic Surgery Hospital do HIS.
Kompakar shareholders include Datuk Seri Tunku Shahabuddin Burhanuddin, whos is also the E.D. Tunku is a royalty from Negeri Sembilan and is also the vice-chairman of Mesdaq Market-listed Iris Corp Bhd. Other shareholders are Looi Kien Leong, former Pikom chairman and also Dauk Mokhzani Mahatir.
Reason for Delay ?
1. Ministry of Health officials complained the quality and speed of work delivered by Solutions Protocol.
2. Out of the 13 hospital, only 4 had been completed.
MBO (Management Buyout)
More than a year ago, there was an attempt by members of Solution Protocol's senior management to conduct a MBO of their company. A group of senior management approached a number of financial institution and venture capitalists to fund the MBO. However, it didn't materialize.
- Original content from The Edge, Feb 20, 06.
Conclusion:
According to Industry expert, this is because Kompakar is one of the giant in for the IT industry in Malaysia. Others in the same category are Formis, Sapura, HighTech Padu and even Machine Niaga. These companies have the cash-flow to cater for big projects such as the HIS case mentioned above.
Therefore, the deals for which a company will get is not solely dependent on the effectiveness of business development team and the strengths of its technical team. Authorized and paid-up capitals must also be factored into the big picture.
Even vendor programs from industry giant such as Telekom, Tenaga, Petronas and etc also have the requirement for minimum paid-up capital of RM 100 k.
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