Tue, 15 Jun 2010
From: The Jakarta Globe
By Dion Bisara
Indian information technology services company HCL Technologies on Monday announced plans to set up a subsidiary company in Indonesia, saying it estimated the annual market in the country for its services was about $200 million.

A subsidiary of HCL, one of India’s leading IT companies, HCL Technologies specializes in providing outsourced services, including engineering and research and development, remote infrastructure management and software-led IT solutions.

Virender Aggarwal, HCL Technologies executive vice president, said the company currently provided IT services for several global companies with operations in Indonesia, but that it was looking to tap the local Indonesian market. “We are trying to get more Indonesian clients,” he said.

Aggarwal said HCL Technologies hoped the subsidiary would be set up in three to four months time. He declined to say how much money was being invested in Indonesia but said that it planned to hire 50 to 100 local staff members later this year or early next year.

Manish Sharma, HCL Technologies head for Southeast Asia, said Indonesia’s impressive economic growth had created opportunities in the IT services sector with booming technology spending. “We have aggressive plans in the medium to long term to tap this opportunity as part of our booming Asean business,” he said.

Manish said HCL Technologies would focus on the financial services sector, although it was also targeting the government and telecommunications sectors. “We see an annual market of at least $200 million,” he said.

Aggarwal said HCL Technologies would partner with Indonesian company PT Multipolar in the financial services sector. Multipolar is affiliated with the Lippo Group, which is affiliated with the Jakarta Globe’s publisher.

Partnering with a local company is crucial, Aggarwal said. “Multipolar has experience in the sector and already has a [business] network,” he said.

With revenue of $2.6 billion for the year to March 31, HCL Technologies is one of the five biggest IT services providers in India in terms of revenue.

It built the software for Boeing’s Dreamliner aircraft and on Monday announced it had won a $110 million contract to provide outsourced IT infrastructure to the Singapore stock exchange.



News Search/Filter
Transaction Rates
19 Dec 18
Buy
Sell
AED1
3,943.89
3,943.89
AFN1
191.11
191.11
ALL1
133.66
133.66
AMD1
29.87
29.87
ANG1
8,160.97
8,160.97
AOA1
46.98
46.98
ARS1
378.60
378.60
AUD1
10,414.92
10,414.92
AWG1
8,048.15
8,048.15
AZN1
8,509.04
8,509.04
BAM1
8,438.93
8,438.93
BBD1
7,243.32
7,243.32
BDT1
172.67
172.67
BGN1
8,423.97
8,423.97
BHD1
38,422.85
38,422.85
BIF1
7.94
7.94
BMD1
14,486.64
14,486.64
BND1
9,192.26
9,192.26
BOB1
2,096.34
2,096.34
BRL1
3,702.64
3,702.64
BSD1
14,486.64
14,486.64
BTC1
52,956,160
52,956,160
BTN1
205.62
205.62
BWP1
1,353.67
1,353.67
BYN1
6,811.76
6,811.76
BZD1
7,186.54
7,186.54
CAD1
10,766.33
10,766.33
CDF1
8.91
8.91
CHF1
14,596.11
14,596.11
CLF1
598,275.55
598,275.55
CLP1
20.99
20.99
CNH1
2,102.77
2,102.77
CNY1
2,101.00
2,101.00
COP1
4.54
4.54
CRC1
24.27
24.27
CUC1
14,486.64
14,486.64
CUP1
562.58
562.58
CVE1
148.96
148.96
CZK1
640.17
640.17
DJF1
81.38
81.38
DKK1
2,206.81
2,206.81
DOP1
287.26
287.26
DZD1
122.07
122.07
EGP1
808.90
808.90
ERN1
965.95
965.95
ETB1
520.10
520.10
EUR1
16,479.79
16,479.79
FJD1
6,801.41
6,801.41
FKP1
18,332.62
18,332.62
GBP1
18,332.62
18,332.62
GEL1
5,446.10
5,446.10
GGP1
18,332.62
18,332.62
GHS1
2,908.96
2,908.96
GIP1
18,332.62
18,332.62
GMD1
292.36
292.36
GNF1
1.57
1.57
GTQ1
1,871.55
1,871.55
GYD1
69.26
69.26
HKD1
1,852.61
1,852.61
HNL1
594.52
594.52
HRK1
2,222.55
2,222.55
HTG1
188.43
188.43
HUF1
51.14
51.14
IDR1
1.00
1.00
ILS1
3,853.03
3,853.03
IMP1
18,332.62
18,332.62
INR1
205.50
205.50
IQD1
12.17
12.17
IRR1
0.34
0.34
ISK1
118.48
118.48
JEP1
18,332.62
18,332.62
JMD1
112.85
112.85
JOD1
20,415.13
20,415.13
JPY1
128.74
128.74
KES1
141.40
141.40
KGS1
210.86
210.86
KHR1
3.60
3.60
KMF1
33.46
33.46
KPW1
16.09
16.09
KRW1
12.86
12.86
KWD1
47,645.59
47,645.59
KYD1
17,382.20
17,382.20
KZT1
39.04
39.04
LAK1
1.69
1.69
LBP1
9.60
9.60
LKR1
80.45
80.45
LRD1
92.21
92.21
LSL1
1,009.52
1,009.52
LYD1
10,347.60
10,347.60
MAD1
1,513.75
1,513.75
MDL1
837.25
837.25
MGA1
4.08
4.08
MKD1
267.72
267.72
MMK1
9.16
9.16
MNT1
5.90
5.90
MOP1
1,798.23
1,798.23
MRO1
40.57
40.57
MRU1
398.42
398.42
MUR1
420.45
420.45
MVR1
937.04
937.04
MWK1
19.48
19.48
MXN1
722.15
722.15
MYR1
3,453.72
3,453.72
MZN1
235.74
235.74
NAD1
1,009.52
1,009.52
NGN1
39.68
39.68
NIO1
446.79
446.79
NOK1
1,660.22
1,660.22
NPR1
128.50
128.50
NZD1
9,926.33
9,926.33
OMR1
37,628.62
37,628.62
PAB1
14,486.64
14,486.64
PEN1
4,336.45
4,336.45
PGK1
4,304.42
4,304.42
PHP1
273.70
273.70
PKR1
103.70
103.70
PLN1
3,845.00
3,845.00
PYG1
2.44
2.44
QAR1
3,978.75
3,978.75
RON1
3,546.15
3,546.15
RSD1
139.22
139.22
RUB1
214.84
214.84
RWF1
16.36
16.36
SAR1
3,862.64
3,862.64
SBD1
1,781.42
1,781.42
SCR1
1,062.00
1,062.00
SDG1
304.27
304.27
SEK1
1,599.59
1,599.59
SGD1
10,573.06
10,573.06
SHP1
18,332.62
18,332.62
SLL1
1.72
1.72
SOS1
24.99
24.99
SRD1
1,942.43
1,942.43
SSP1
111.21
111.21
STD1
0.68
0.68
STN1
671.29
671.29
SVC1
1,655.44
1,655.44
SYP1
28.13
28.13
SZL1
1,010.93
1,010.93
THB1
442.74
442.74
TJS1
1,536.87
1,536.87
TMT1
4,127.27
4,127.27
TND1
4,927.74
4,927.74
TOP1
6,412.26
6,412.26
TRY1
2,712.98
2,712.98
TTD1
2,149.15
2,149.15
TWD1
472.04
472.04
TZS1
6.29
6.29
UAH1
520.79
520.79
UGX1
3.91
3.91
USD1
14,486.64
14,486.64
UYU1
449.12
449.12
UZS1
1.73
1.73
VEF1
0.05
0.05
VND1
0.62
0.62
VUV1
130.50
130.50
WST1
5,562.44
5,562.44
XAF1
25.12
25.12
XAG1
212,098.94
212,098.94
XAU1
18,101,064.87
18,101,064.87
XCD1
5,360.36
5,360.36
XDR1
20,135.69
20,135.69
XOF1
25.12
25.12
XPD1
18,162,338.26
18,162,338.26
XPF1
138.10
138.10
XPT1
11,453,069.67
11,453,069.67
YER1
57.85
57.85
ZAR1
1,010.22
1,010.22
ZMW1
1,209.65
1,209.65
ZWL1
44.94
44.94
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services