Draft:Tricubes Berhad

Tricubes Berhad is a Malaysian technology company headquartered in Kuala Lumpur, Malaysia. Founded by Khairun Mokhtar in 1998, Tricubes Berhad is a home for biometric products and software solutions. It is a Malaysia market leader in Identity Authentication Software (IAS) and Enterprise Mobility Solutions (EMS) with over 50% market share. The company mission is to enhance identity authentication and enterprise mobility for Government Link Companies (GLCs), Financial Institutions, and the Public Sector in Malaysia. As of 2010, Tricubes Berhad is ranked 253 on Deloitte Technology Fast 500 Asia Pacific Award and become the fastest growing technology companies in the region.

History

Early years (1998-2009)

Tricubes Berhad established in 1998 in Kuala Lumpur, Malaysia. Driven by the Malaysian smartcard ID project, MyKad, Tricubes Berhad participated and developed new products and applications to compliment the MyKad project that resulted in the production of hardware handheld terminal, called T1010. T1010 became the first Malaysian-made MS Windows handheld terminal with integrated smart card and biometrics reader. Thousand units of the new generations of terminals are being used by banks, telcos, and government organizations in Malaysia until now.

Following to that, Tricubes Berhad was recognized as an emerging player in the Malaysian technology sector and was chosen as a finalist in the Asia Pacific IT Category in 2000. Subsequently, Tricubes Berhad was awarded as the Computing Product of the Year by PIKOM (the National ICT Association of Malaysia) for its T1010 mobile handheld terminal in 2001.

With the successful implementation of the MyKad project, Tricubes Berhad started to venture into the international market. In 2002, Tricubes secured a contract for the clip card project of Sophia Antipolis in France. It designs, manufacture, and supply of 200 units of customized HP-IPAQ sleeves codenamed Tripaq. These hybrid PDAs were the front-end devices for a pilot project deploying a smart card-based parking summon system in a few cities in France and Italy.

With a range of new products such ash Sekure desktop, smartcard/biometrics readers, and enforcement software applications, Tricubes won another award under the Enterprise 50 in 2003. It is an annual award program organized by the SME Corporation Malaysia and Deloitte Malaysia, with supporting sponsorhip by RHB Bank Berhad and Telekom Malaysia Berhad to celebrate and highlight the achievement of SMEs.

In 2004, Tricubes also successfully listed on the ACE market operated by Bursa Malaysia. This makes them increasingly well-known to the general public and opens up further business opportunities.

Subsequently, Tricubes Berhad was awarded the Technology Leadership category at the inaugural D'uchorty Award that was in conjunction with Cardex in 2005. The D'uchorty Award was organized by Frost & Sullivan and seeks to recognize companies or individuals that have demonstrated outstanding performance in the smart card industry across Southeast Asia. Tricubes Berhad is awarded for its effort in developing Tricubes 1020, a second generation of wireless handheld computer with integrated security features.

Following the D'uchorty Award, the Malaysia Information and Communications Technology (ICT) industry honored nine leaders in its industry at the 5^th PIKOM Key Industry Leader Recognition Award in 2007, and Khairun Mokhtar were chosen as one of the recipients.

Tricubes Berhad continued to drive in the Malaysian market throughout the years. In 2010, Tricubes Berhad was ranked 253 on the Deloitte Technology Fast 500 Asia Pacific Award, a global platform for measuring, recognizing, and analyzing growth of the fastest growing technology companies in the region.

2010-2012

According to Tricubes Berhad's financial statement in 2010, the largest shareholder is Khairun Mokhtar owning 15.72% of the shares directly, and Commerce Technology Ventures Sdn Bhd is the second largest shareholder holding 15.63% of the shares. Commerce Technology Ventures Sdn Bhd is a private equity fund, was established with the Bank of Commerce Group or Bumiputra-Commerce Holdings Bhd Group now known as CIMB Group.

In October 2010, the external auditors stated in their reports that the Tricubes group incurred a net loss of RM3,346,752 and the company recorded a net profit of RM653,582 for financial year ended March 31, 2010. The group and the company's accumulated losses amounted to RM16,520,722 and RM4,938,227 respectively. These conditions indicate the existence of material uncertainties which may cast doubt on the group and the company's ability to continue as a going concern.

In June 2010, the shareholders' equity of Tricubes Berhad is lower than 50% of the capital in which it has violated the listing rules, thus Bursa Malaysia include the company in the GN3 status and need to highlight the financial restructuring program before "delist" on October 2011. Tricubes Berhad attempted to acquire Pos Malaysia but was unsuccessful. However, in December 2010, they successfully purchased an 81% stake in Tam Tam Sdn Bhd.

In September 2011, Tricubes Berhad's 70% owned subsidiary has been awarded a contract worth RM4.4 million by the Ministry of Home Affairs in relation to the Mobile Card Acceptance Device (MCAD) supplied to the Royal Malaysian Police (PDRM) for a period of one year. The MCAD enables the police force to read all MyKad, handle the payment of and enquiries about traffic summonses through automated teller machines and short messaging system, leading to a surge in its stock price.

In January 2012, Tricubes Berhad has accepted a letter of award from the Home Ministry to maintain the police force's hardware and software and server Enhanced Mobile Management System (EMMS).

Subsequent to the surge in its stock price by 75.8% to 29 cents from its previous close of 17.5 cent in six months, Tricubes Berhad seek to regularization plan to Bursa Malaysia on July 2012. However, Bursa Malaysia rejected the regularization plan and is on the verge of being delisted from the stock exchange sparked heavy selling on the counter with 25.94 million shares changing hands. Tricubes Berhad officially delisted on August 2012 after the rejection of the regularization plan. The company is still able to continue its operations and business and proceed with its corporate restructuring.

2013-present

After successfully overcoming financial losses, Tricubes Berhad expands its biometric expertise to assist banks to expand their self-service channels to allow customers to complete the opening of new accounts at their own convenience, just by validating their MyKad through fingerprint biometric verification on October 2021. It also incorporated several solutions for delivering the self-service kiosks, which is the Windows Industrial Panel PC applications and Sekure 4 product integration. Besides that, they also develop a centralized monitoring software module within mobile-to-enterprise (M2E) used to monitor and measure the performance of the kiosk to ensure that the kiosks is always up and running.

On November 2021, Tricubes Berhad continues to innovate meter reading billing solution. Tricubes Berhad developed an effective system to print bills to clients and keeping it accurate and in tandem with the occasional tariff changes within a short roll-out period. The mobile-to-enterprise (M2E) is also used as a middleware to interface with the billing systems securely.

On January 2022, Tricubes Berhad expands its plan into providing Smart City solutions by launching WorkSmart+ Intelligent Building solution. This fully integrated software application allow its client as well as its visitors to be able to access facilities management seamlessly.

Products and Services

The company provides services to clients in various industries, including government, financial services, oil and gas industry, and others.

Enterprise Mobility Services (EMS)

Tricubes Berhad launched mobile-to-enterprise (M2E) solutions that focused on Enterprise Mobility Management that allow the business to utilize mobile devices for their operations.

Identity Authentication Software (IAS)

Tricubes Berhad launched hardware and software to verify and authenticate a person’s identity through biometric characteristics. The hardware includes Sekure 5, TCR38, TI040i, Tricubes Kiosk, and MSO 1350 series. It is made to allow maximum mobile productivity.

IT Maintenance Services (ITMS)

IT Maintenance Services provide continuous support and management of IT systems and infrastructure to maintain optimal performance and reliability. This support covers both hardware and software and includes a customer service management system.

WorkSmart+ Software

WorkSmart+ is a cloud-software that provide software-as-a-services (SaaS). It comprised of services and facilities management services. The services management system tracks field maintenance and equips with help desk and customer support. The facilities management services allows for reservation, case reporting, and resolution.

Operations

Tricubes Berhad is headquartered in Kuala Lumpur, Malaysia in the Great Eastern Building.