Datacons bags Rs 20 m. Malaysian orders

BANGALORE: Datacons Private Limited of Bangalore has bagged two orders for

its products, MFund and MFund/ISS from local asset management companies. The

orders, which have a cumulative value of over Rs 20 million, have been acquired

through its wholly owned subsidiary, Datacons Asia Pacific Sdn Bhd. Datacons,

which started its operations in Malaysia this year, expects to capture eight per

cent of the Malaysian fund management industry in its first year of operation.

The company already has Kuala Lumpur Mutual Fund Bhd as its first major client

in Kuala Lumpur.

Datacons Asia Pacific head B V Dilip Kumar said the company hoped to achieve

the targeted market share in the Malaysian fund management sector by encouraging

more unit trust managers and other fund managers to use Datacons' products in

their operations. "In Malaysia, there are over 30 unit trust companies and

around 50 to 60 asset management companies. Therefore, there is a good potential

for the products here," he added.