Struck by revenue declines, Malaysia-based IT company Dataprep Holdings Bhd (DHB) is looking at overseas markets that could include Cambodia, according to the company’s annual report to Malaysia’s stock exchange.

“The Group … has several overseas projects in the pipeline, in countries such as Indonesia, China, Cambodia and Vietnam,” the chairman’s statement said, without giving more detail.

Malaysian paper the Sun yesterday quoted CEO Ahmad Rizan Ibrahim, who said that he is in talks in Cambodia and Vietnam. According to the annual report, the Group’s results “were affected by intense competition in the market and lower margin, which saw the group’s revenue base being eroded.”

Ken Chanthan, chairman of the ICT Association of Cambodia, said he welcomes a new player in Cambodia as “there is room for the industry to grow”.

According to Chanthan, 60 per cent of the IT companies in Cambodia are locally owned. The remaining 40 per cent foreign-owned companies are mostly Malaysian, Singaporean and Vietnamese.

DHB did not reply to an email yesterday. The company provides IT services to clients in government, education, telecommunication and the financial sector in Malaysia.