Sector Reviews

Investments and Services

Business Domain

The Sector includes the investment companies of the Group and the non-voice BPO service provider to the Hayleys Group companies as well as external customers. Other services such as human resource management, tax advisory, treasury advisory, legal and secretarial, business development, financial, internal audit, corporate communications and IT. The Sector comprises 5 companies, which are all based locally.

Operations

The key achievements during the year can be attributed to turning around of the BPO business, which was in its formative stage, to profitability. The provision of consultancy services to establish shared services operations for two leading local garment manufacturing groups was a major contributory factor. Importantly, the sector was able to secure the first ever overseas clientele for BPO assignments, the core business of the sector, which is expected to grow steadily. The growth is expected in the identified target markets.

Strategies in Action

The BPO operation has identified two strategic overseas markets and the initial break through secured in latter part of year under review is likely to create the momentum for growth in the ensuing year. In addition, we would pursue to extend the consultancy services to wider segment in the domestic market. Other service initiatives by the sector includes co-ordination of the SLFRS implementation across the Group, centralisation of the Treasury function to ensure best rates are obtained across the Group as well as a number of human resource development initiatives.

Outlook

The strategic direction would be towards providing a range of end to end value added services in the areas of financial accounting, payroll processing and other back- office processing assignments in the selected overseas markets leveraging on customer accounts that we have secured up to now. The sector further aims to centralise and provide value added support services to each of its sectors in order to help the sectors focus on their individual core businesses.