21 January, 2014 (SINGAPORE) – W-Locate Pte Ltd (“W-Locate”), a leading telematics technology and location intelligence company based in Singapore has setup 2 subsidiaries in Thailand & Malaysia.
This rapid expansion of office was necessary to facilitate the business secured in these 2 countries recently. It is in line with the expansion plan of the company for year 2014 after securing S$2 Million of Series A funding from a top ASEAN investment firm, RHB OSK ASSET MANAGEMENT PTE LTD (“RHB OSK”) through one of its funds, the RHB-OSK GC-MILLENNIUM FUND LP.
These 2 offices will primarily serve the needs of the local support for XimLoc products, offered by the local telcos.
Also, at the same time, FIND has gain much reputation as the regional leading Fleet Management + Telematics company that specializes in Cement Ready-Mix industry. It has managed to secure a few International Ready-Mix companies to kick off the New Year.
W-Locate is the innovator behind the well-acclaimed products, FIND and XimLoc. FIND combines tracking technologies and tracking analytics to empower fleet and assets owners to remotely track, manage and protect its fleet and valuable assets. Most importantly with the analytics of FIND, fleet owners can leverage on FIND to increase the productivity of its fleet. FIND is remote vehicle diagnostics, incident detections systems, and fleet operation management all rolled into one. FIND is currently adopted by more than 2000 vehicles, of which many of these fleet owners are MNCs and large public listed enterprises in Singapore and Malaysia.
First in the world, XimLoc delivers a SIM-Based tracking system that can accurately track any mobile handset in both indoor and outdoor locations. XimLoc is a proprietary technology, which uses information and signals that are available from the GSM (2G/3G) network to compute positions. XimLoc uses an applet (that resides in a SIM card) to send back to a backend XimLoc server, which will calculate the most probable location based on WLC’s Patent-Pending algorithm. XimLoc has been vigorously tested and has been proven to be as accurate as GPS while addressing the limitations of GPS, i.e. inability to track indoor and heavy power consumption. W-Locate expect XimLoc to be deployed heavily for workforce tracking in Asia. XimLoc has already secured 2 major telecommunications companies to launch its services in South East Asia. XimLoc is also currently in talks with telecommunications companies in other parts of Asia and the Middle East.
About RHB OSK Asset Management
RHB OSK Asset Management Pte Ltd is a the regional hub of the asset management business of the RHB Banking Group, one of the largest financial services group in Malaysia with 17,000 employees and 502 offices in ASEAN and Hong Kong/ China. RHB OSK Asset Management has approximately US$10.3 billion of funds under management with various asset classes invested worldwide. RHB-OSK GC-Millennium Fund LP is a private equity fund managed by RHB OSK and was set up under Economic Development Board/Contact Singapore’s Global Investor Programmes.
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