redONE CEO unveils expansion strategy and listing intentions

26 Mar 2024 06:00pm
CEO of redONE, Ameen Amaendran.
CEO of redONE, Ameen Amaendran.

PUCHONG - CEO of redONE Network Sdn. Bhd. Ameen Amaendran has revealed the company's strategic vision, emphasising its plans for expansive growth across 10 Asean countries as well as the intention to pursue listing in 2026-2027.

This ambitious endeavour highlights redONE's commitment to long-term development and presents a compelling perspective for the company’s future.

Ameen said that his team is actively reshaping the company, introducing enhanced structures and processes to align with the requirements for a successful listing.

“Our objective is to establish a scalable model that can be efficiently replicated across other countries. This approach is crucial for swift and successful expansion, as it enables us to implement changes, technology, cultural aspects, and business models consistently.

“This replicability ensures that our operations can be swiftly launched in new markets.

“By documenting and structuring our replication model, we can effectively assess its effectiveness, identify areas for improvement, and adapt accordingly,” he explained.

Ameen stated that attempting diverse business models in different countries can lead to confusion and complexities, necessitating extensive data analysis and customised adaptations, which can be challenging to manage.

“We offer our most affordable postpaid plan starting at RM8 per month, making us the most budget-friendly postpaid service provider nationwide,” he mentioned.

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With plans tailored to meet diverse needs, including 5G connectivity options, redONE aims to attract and retain a broad customer base.

To achieve its listing goal, redONE aims to reach 1.5 to 1.7 million active subscribers in Malaysia, building upon its current count of 1.2 million.

“Our focus remains on service delivery rather than heavy advertising expenditure, as our competitors outspend us significantly.

“By prioritising excellent service, we rely on satisfied customers to recommend our services to others, fostering organic growth typical of successful technology companies,” he added.

Targeting B40 and Low-end M40 Segments:

Ameen also mentioned the company's strategic decision to focus on serving the B40 and low-end M40 segments, aiming to become the premier service provider for these demographics.

This strategic shift emphasised redONE's commitment to offering excellent value for money to its customers, challenging the notion that higher-priced brands offer superior service.

“We want to offer them products that provide excellent value for their money.

“Why pay RM150 for 100 gigabytes to another provider when you can get the same connectivity for RM50 with us?”, he implied.

While redONE has seen significant growth in its postpaid services over the past 10-12 years, the company is now shifting its attention to expanding its prepaid offerings.

With the prepaid market nearly twice as large as the postpaid market, redONE sees substantial growth potential in this sector, with plans to enhance service delivery and effectively target the vast prepaid market.

"Our focus will be on enhancing service delivery and refining our approach to target this vast sector effectively," affirmed Ameen, highlighting redONE's commitment to catering to the needs of prepaid users.

To further align with its target group, redONE is actively involved in esports, shifting its focus from traditional sports.

“This strategic change aligns with our prepaid services, which cater more to the youth segment.

“As part of our targeted activities for the year, we plan to sponsor upcoming esports tournaments, offering prize winnings and event sponsorship,” he explained.

redONE also plans to introduce a customer loyalty programme tailored specifically to the B40 segment, aiming to enhance customer retention and loyalty.

This initiative, currently lacking in redONE's offerings, heightened the company's commitment to meeting the unique needs of its target audience.

Ameen also sheds light on the company's strategic focus on the B40 segment in response to a question regarding their direction and potential shift towards targeting higher-end segments in the future.

“Currently, without our own infrastructure, it is challenging to compete with larger competitors.

“However, once we reach 2 million subscribers, the landscape may change. For now, our focus is on reaching that milestone before considering larger endeavours,” he mentioned.

Tech-Oriented Identity:

In a bold statement, Ameen has emphasised the company's identity as a technology industry player, challenging the conventional perception of redONE solely as a service provider.

He mentioned that while redONE is often perceived as a service-oriented business, its core function revolves around providing connectivity, enabling users to interact with various technologies through their devices.

“With the shift towards becoming technology-centric, our focus is on accommodating users' demands on the technological front.

“The emphasis is on technology – from server management and cloud utilisation for faster scalability to understanding the behaviour of our predominantly Malay customer base, especially during peak periods like pre-Hari Raya festivities,” he said.

Furthermore, Ameen highlighted the significance of people in driving business growth and organisational transformation.

“Since joining in November 2023, I have made it a point to engage with every new employee, basically everyone in this company.

“I conveyed to them our vision and game plan. It is essential for everyone on board to align with our direction and objectives.

“Because if we have multiple directions, we will not achieve our end goal of going listing in 2026-2027,” he explained.

He emphasised the need for everyone within the company to share a common goal to achieve this milestone successfully.

Navigating Challenges With Optimism:

Ameen explained the unique challenges the company faces as it transitions from a highly entrepreneurial setup to one focused on implementing structure, processes, and a cultural shift.

He said that the challenges are unique because the company has operated in a highly entrepreneurial manner over the past 12 years and the focus now is on implementing structure, processes and changing the company culture.

Reflecting on the company's rebranding efforts, Ameen clarified the transition from 'redONE: Back to Basics' to 'redONE Mobile,' aiming to enhance clarity regarding the company's core business focus.

“Previously, 'redONE: Back to Basics,' caused some confusion among people regarding redONE's business focus. Upon my arrival, I proposed rebranding to 'redONE Mobile,' ensuring clarity regarding our core business.

“However, the transition led some to perceive it as a new brand, which was not the case; it simply evolved into 'redONE Mobile’,” he mentioned.

Ameen said that this change was aimed to enhance understanding among a broader audience, fostering creativity, and facilitating clearer brand building and product differentiation.

Despite the present economic challenges, Ameen expressed optimism about redONE's growth prospects, drawing from his experience at his previous organisation during the Covid-19 pandemic.

“I remain optimistic about achieving our goals, aligning our progress with the economic landscape. During my tenure previously, we experienced significant growth even amidst the challenges of the Covid-19 pandemic.

“Now, in the current economic climate, we are strategizing to replicate that success. We are determined to identify the tipping point that will propel us forward. Once we pinpoint this crucial moment, I believe we will surpass our targets sooner than anticipated,” he mentioned.

Ameen stated that this approach has been integral to his success in previous endeavours, although it requires regular tweaking and analysis of data to ensure effectiveness.

“Overall, I am optimistic in our ability to overcome obstacles and achieve our objectives,” he added.

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