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SAT Investeck sets up Dubai subsidiary

Our Regional Bureau  |  Ahmedabad 

Mumbai-based SAT Investeck Ltd, an enterprise resource planning (ERP) software developer for the small and medium business (SMB) segment,
The company has specially designed ERP solutions in Arabic language targetting the Middle East market. The company has set up a subsidiary SAT Middle East Ltd FZC in Dubai to optimise its business revenue.
The company has also formed joint venture with Muscat and Kuwait-based companies to implement ERP solutions in the Middle East market.
"We have decided to transfer all our software development and marketing activities to our Dubai subsidiary SAT Middle East, which will have enhanced emphasis on marketing," said Ali Dau, commercial executive, SAT Investeck.
The company has recently bagged a Rs 16.5 crore order from United Arab Emirates (UAE) and has a healthy order book of Rs 65 crore. The company is also planning to establish a new subsidiary SAT Biotech Ltd to fully exploit the sector.
"With the Middle East subsidiary concentrating on software development, the promoter company will concentrate on establishing a global business network, which will involve a lot of fresh initiatives in outsourcing of services and products," said Dau.
The company is also planning a foray into manufacturing activities of and non-products through a subsidiary focussed on manufacturing. The manufacturing ventures will be either greenfield ventures or strategic acquisitions. The company also plans to open new branches and subsidiaries in India and abroad to enhance the business operations.
The company has chalked out a three-year business development plan to fuel its growth in the international arena, which involves fresh capital expenditure of Rs 83 crore, and the board of the company has constituted a specialist team for its business development plan. The company will meet the expenditure partly through internal accruals of the company and partly through borrowings from financial institutions and banks.
"The company will continue to emphasize on a finely tuned integration of business, technology, people and processes. This paradigm has been identified as the winning recipe to take the company to greater heights," said Dau.
The company has reported a turnover of Rs 39 crore in the last financial year which has already crossed Rs 36 crore in the first six months of the current financial year and the company targets to close the current financial year with a turnover exceeding Rs 65 crore.

First Published: Fri, December 24 2004. 00:00 IST