KUALA LUMPUR (Oct 16): Integrated network and technology solutions provider, Pacnet, is implementing new strategic plans as part of refining its business model and enhance its services.

In a statement Monday, its chief executive officer Carl Grivner said the company’s aim was to become the leading provider of network and technology solutions for enterprise and carrier customers in Asia Pacific.

"We currently have an unquestionable market leading position and Pacnet is a key gateway into Asia Pacific's vibrant markets.

However, in order to maximize the many current market opportunities, better serve our customers, stay ahead of competition, and build the strongest Pacnet possible, we are planning to implement a number of transformation initiatives. 

"We intend to leverage and build on our very strong foundation but we will also make important and necessary changes that will refine our business model and enable Pacnet to enter a new phase of accelerated growth and improved profitability," he said.

Grivner said that following an extensive review of its operations, Pacnet would be commencing a series of initiatives to transform and address key objectives and priorities.

These include focusing exclusively on high margin core businesses, upgrading offerings, streamlining operations, and reducing costs.

Additionally, Pacnet will focus its expansion efforts on markets with the greatest opportunities and invest in the future through more technology and network upgrades, new data centers, and a comprehensive suite of managed services, he said.

To efficiently carry out these initiatives and maximize their benefits, Pacnet will leverage its well-known brand, valuable set of assets, solid customer relationships, and strong underlying business.

Pacnet will be able to better serve its customers and expects revenue will grow much faster than previously. The planned initiatives will result in savings of some US$30 million in annual expenditure.

"Our streamlined operating model will be much more focused, each specific business area will have a very strong leader, and we will be singularly focused on effectively serving our diverse customers as their businesses grow and evolve in the Asia Pacific region," said Grivner.