Rev Asia, the holding company of digital media company REV Asia Holdings, is slated to play an important role in the formation of Kuala Lumpur Internet City (KLIC). This is a digital hub of the world's first Digital Free Trade Zone (DTFZ).
According to the New Straits Times, Patrick Grove, Rev Asia's director and group chief executive of Catcha Group, said during the company's general meeting that while the company's role in the internet city is still under discussion, it will be "a most important role". Catcha Group is the parent company of REV Asia Holdings.
He added that because Catcha Group was appointed the master developer for KLIC in DTFZ, it is only "natural" Rev would also have an important role in it.
Grove said he sees a huge opportunity for Malaysia and ASEAN to expand within the digital space, due to the region having the highest smartphone penetration rate worldwide. He added that the rest of ASEAN is primed to take advantage of the Fourth Industrial Revolution that the world is currently experiencing.
KLIC aims to be one of the world's largest digital hub for global tech giants from countries such as China and the US, as well as for regional leaders and local startups targeting Southeast Asia, one of the fastest growing tech region in the world. It is a lifestyle focused city, with ecofriendly buildings, bike paths and large open spaces for community activities.
Earlier this year, Media Prima acquired Rev Asia Holdings for RM$105 million. Industry experts lauded the move saying it will influence other media groups in Malaysia to “re-strategise digitally” as well as put Media Prima at an advantage when connecting with younger audiences.
Last month, Rev Asia was looking to establish a new business division in technology media after the completion of its sale and purchase agreement (SPA) with Media Prima Digital. According to the New Straits Times, the company has strategies and plans in place for business expansion goals. Business opportunities will also be identified after the completion of the SPA by the third quarter of 2017.