Local RFID solution goes the Euro way

KUALA LUMPUR: Mesdaq-listed CBS Technology Bhd (www.cbs.com.my) expects to introduce its homegrown radio frequency identification (RFID) technology in Switzerland and Germany by the first quarter of 2005.

The solution, known as Secure Operations and Logistics Solution (Solmate), will be launched by its 49%-owned Switzerland-based joint-venture company, CBS Technology GmbH, the company said in a statement.

“We are excited at the prospects of expanding our product name and market presence in Europe," said chief executive officer Sun Chee Kong.

"As part of our marketing programme, we will be participating in CeBIT in Hanover, Germany, next March, where we will showcase Solmate to the European community,” he added.

CeBIT is regarded as the world's largest and most influential information and telecommunications technology trade fair.

Sun said that CBS Technology GmbH would also be looking to expand Solmate’s presence in other English-speaking countries in Europe. This will be quickly followed by initiatives into the Middle Eastern region, especially in the more developed and affluent countries like the United Arab Emirates.

Europe's retail RFID market registered sales of RM1.88bil (400mil euros) in 2004, and the figure is expected to reach RM11.75bil (2.5bil euros) by 2008.

“Acceptance of RFID technology has risen rapidly in Europe and the level of awareness has increased tremendously over the last few years," said Sun.