Maveric Systems expands footprint in Malaysia

Maveric Systems announced the launch of its operations in Malaysia. Maveric
will invest $0.75 million to focus on transformation testing in the banking,
insurance and government sectors. Maveric expects $2.75 million in revenues from
the region over a period of 18 months.

Maveric also announced its academic partnership with Malaysia University of
Science and Technology (MUST) to formulate the first of its kind short-term
courses and workshops in Takaful Insurance and Islamic Banking in line with
software testing. Maveric also plans to venture into R&D along with MUST in a
phased manner and set up a quality council to expand software testing horizons
in Malaysia.

Speaking about the expansion, P Venkatesh, Director, Maveric Systems, said,
“With our expertise in Islamic Banking in the Middle East, it will help us to
tap into this sector in Malaysia which is growing at a staggering rate of 35
percent YoY. With success in the Saudi market within six months of operations,
we hope the Malaysian expansion would also help us to meet the growth target of
30 percent for the financial year. We are confident that the company's unique IP
led testing tool 'Testac' will enable us to be the preferred testing partner
across Malaysia.” He also added, “Our academic partnership with MUST is aimed at
bridging the supply-demand gap for quality testing professionals in Malaysia.”

Commenting about the partnership, Dr Ahmad Ibrahim, VP-Academic Research and
Industry Affairs, MUST said, “Through these workshops and short-term courses, we
aim to create the necessary awareness on the importance of software testing,
particularly in the Islamic banking and insurance industry. This initiative
would also serve as a precursor to post-graduate programs related to software
testing that 'MUST' would like to offer. He added, “As a first step, MUST is
currently exploring the possibility of offering an MBA in Software Testing with
specialization in Islamic Banking that would be modelled after similar joint MBA
program between Maveric Systems and Loyola Institute of Business
Administration.”

Targeting a rapid growth in the topline and staffing numbers, the company
plans to increase its manpower capacity to 100 people in Malaysia over the next
18 months.