CS Cloud and Cloocus to sign a joint venture agreement
CS Cloud and Cloocus had signed a joint venture agreement on 7 December 2021 at the Sheraton Hotel Petaling Jaya to facilitate the mutual sharing of expertise in the area of cloud services. YB Tan Sri Datuk Seri Panglima Haji Annuar bin Haji Musa, Minister of Communications and Multimedia Malaysia was also present during the singing of the joint venture agreement by Mr. Kavinthraj Panneerchelvam, chief executive officer of CS Cloud, and Mr. Steve Hong, chief executive officer of Cloocus Korea.
As it was established in 2020, CS Cloud supplies its clients with a cloud computing platform with a wide range of private and hybrid cloud deployments for both the public and private sectors. All these work is being backed by the Ministry of Transport, National Water Services Commission (SPAN), Malaysian Pineapple Industry Board, Amanah Saham Nasional Berhad (ASNB), State Secretary of Penang, and Malaysian Medical Council.
Cloocus Korea on the other hand was established in 2019 where the company offered full cloud services such as pre-consultation service, build service, managed service, big data analytics, and smart work to drive digital transformation by migrating to Microsoft Azure. With the work that was done by Cloocus, Microsoft awarded Cloocus the “2021 Partner of the Year Award” as they acknowledged them as a superior partner throughout the years.
Hyperscale (Microsoft Azure), cloud management in Malaysia, will be developed and operated by the new entity named Cloocus to be an addition for Microsoft businesses alongside MW: Modern Work and Biz Apps. While it is a 50-50 share between Cloocus and CS Cloud, Cloocus Korea will invest RM8.4 million and support the development with their technical expertise, resources, and assets. As for CS Cloud, the company will provide the local sales network, marketing, and customer-related activities as well as knowledge of the local culture and customer pattern behaviors to support the development.
Mr. Kavinthraj Panneerchelvam, the chief executive officer of CS Cloud, stated that “We share in the government’s plans to advance digital transformation. As such, our collaboration is in line with the MyDigital blueprint to transform Malaysia into a digitally-driven, high-income nation and regional leader in the digital economy. With the same vision under the “Bersama Malaysia” initiative, Microsoft is committed to supporting MyDigital ambitions and empowering Malaysia’s inclusive digital economy across the public and private sectors with the establishment of a data center region in the Greater Klang Valley. We are in full support of the government’s efforts to drive growth and develop the digital economy to create an innovative and technology-integrated society. In a nutshell, this collaboration aims not only to support the digital economy but to provide local entities with a more comprehensive cloud system. The enhancement of the digital economy also complements the recently launched “Keluarga Malaysia”, which was officiated by Prime Minister Yang Amat Berhormat Dato’ Sri Ismail Sabri bin Yaakob, formulated to achieve developed nation and high-income status as Malaysians of different backgrounds, cultures, and beliefs stand united to develop the country.”
Mr Steve Hong, Chief executive officer of Cloocus Korea
Mr. Steve Hong, Chief executive officer of Cloocus Korea, also added that “One of Southeast Asia’s richest countries with developed public and financial markets, Malaysia is a country where the cloud journey can be fully accelerated with the establishment of Microsoft Azure Data Center this year. Utilizing its rich cloud services, Cloocus Group plans to pioneer and create a revolutionary impact on the Malaysian cloud market by joining hands with Censor Group, an established institution in the public financial market.”
With the collaborations between the two companies, Gartner Inc, a global research and advisory firm, believes that the public will massively rely on cloud services and has estimated a huge growth of 18.4% in 2021 to US$304.9 billion, from US$257.7 billion in 2020. With this estimation, it is believed to help Malaysia’s cloud computing market to be worth up to US$3.7 billion in 2024, a 13% increase from 2020.
