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ODESI ECOB

Innovative Solutions for Government Strata Management

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

ODESI ECOB SDN BHD (ODESI) specializes in end-to-end property solutions, ODESI leverages on technology to simplify the strata management process and provide automation, ODESI strives to be a premier one-stop property solution provider for the strata industry. The founders have started studying the strata industry since year 2014.The first deployed pilot site was Majlis Perbandaran Ampang Jaya. Since then ODESI ECOB SDN BHD was incorporated in 2018 and today ODESI has Lembaga Perumahan dan Hartanah Selangor (LPHS), 12 city councils in Selangor and 1 city council in Seremban as their clients.

ODESI is at the growth stage to expand its reach to other states in Malaysia.

PROBLEM

Commissioner of Buildings (COB) resides in every City Council and they have been managing 35,000 strata properties manually which has resulted in the inconsistency of data, outdated information, lack of Joint-Management-Bodies (JMB) and Management Corporation (MC) Annual General Meeting information coupled with the problem there there is currently no online platform for JMB/MC to communicate with COB.

The first Strata Act was founded in year 1985 (Akta 318), it is an industry that many have overlooked and have taken for granted. ODESI sees the opportunity in strata industry and have since ventured and became pioneering the strata management system for the industry.

SOLUTION

ODESI has developed a web-based ODESII e-COB strata management solutions which provides an integrated service online platform to help the COB to digitize strata information and automate the monitoring processes. There are 5 key benefits to the COB operations as outlined below

Automation

  • Simplified dashboard reporting, accurate reports, auto report generation and data management

Digitalization

  • Digitizing hard copy data, data organization, data transparency and big data

Security

  • Data security & encryption, unique access & identification, infrastructure security

Increased Efficiency

  • Web access 24/7, easy access to report, easy retrieval of data, save time and travelling cost

Connectivity & Collaboration

  • A platform to enable public to connect effectively with authorities. Environment for stakeholders to collaborate, communicate and immediate dissemination of information
PRODUCT

ODESII e-Strata System consists of the the following:

a) ODESII e-Federal

  • Allows Federal Government to monitor the strata information, financial information, collection rates, expenditure of the buildings and it is equipped with dashboard reporting

b) ODESII e-State

  • Allows State Government to monitor the strata information, financial information, collection rates, expenditure of the buildings and it is equipped with dashboard reporting

c) ODESII e-COB

This is the core solution for the strata industry, our solution enables COB to:

  • Strata Registration and maintenance - Keeping track of and manage all strata properties in a secure cloud-based solution
  • AGM Reminder - Uploading yearly JMB/MC AGM yearly in order COB can track and monitor via this platform
  • Financial Reporting - Assisting JMB/MC with ledger, receivable, payable, cash management, financial statement
  • Self Service - JMB/MC will be able to interact with COB for form submission and eliminates physical presence
  • Star Rating - Conducting real-time assessment of JMB/MC and building via online portal
  • Automation - Recording Stratified building management index and digitalizing physical records
  • Document Management – Keeping track of all correspondence
  • Digital Letter – Official letters generated via the system and automatically emailed out to the recipient and it consist of mail merge features
TRACTION

Over 2 years, ODESI has secured the Selangor State Government, the entire Selangor state City Council and Seremban Municipal Council. This has made ODESI the pioneer in this space for the Strata Industry. ODESI are targeting the root of the industry. Entry barrier will be high as it requires being an expert in this subject and it is not easy to migrate or source for vendors who understands the industry requirements at the correct price.

ODESI have a patent and copyright pending for its products with MyIPO to further secure its market positioning.

Last year, ODESI secured a partnership with the Residence App provider to market their product to their database by showcasing it through Council events and by word of mouth. By 2022, ODESI is targeting to secure nationwide implementation. Amidst the pandemic of COVID-19, it is the most suitable time to transform the interaction method between the Government sector and Public.

CUSTOMERS

ODESI have built a strong customer base which entrusts them with the Strata Information. It is a hosted model, therefore ODESI emphasizes on the feedback from each and every client and constantly improving their solution to remain the pioneer and competitive in the market.

BUSINESS MODEL

ODESI targets long term relationship with its clients, the business model is based on Software as a Service or Contract Subscription.

Our fees Structures are as follows:

ODESII e-COB System

  • There are a 5 years contract and auto renew if there are no termination
  • One-time setup fees
  • Yearly Licensing Fees
  • Yearly Hosting

ODESII e-PMS

  • There are a 2 years contract and auto renew if there are no termination
  • One-time migration and setup fees
  • Monthly or yearly Subscription fee
  • Training fee

Demand Letter

  • It is based on usage and transaction
  • A fee will be charge for every request of the demand letter from the COB
MARKET

There are over 150 City Councils in Malaysia governing our properties, and currently ODESI have secured 13 as clients. It is a sizeable market for ODESI to work on as for each council there aredifferent problems and issues which ODESI can leverage to market its products. The total JMB/MC in Malaysia is estimated at about 35,000 strata properties.

COMPETITION

ODESI is the pioneer in this space, there are none similar solution provider which provides solutions present in ODESI. As of today, ODESI holds about 10% for the COB market.

FUNDING

ODESI is looking for equity investment of RM1,000,000 to RM3,000,000 to further the growth of the company. The investments funds will be use to focus on 3 main key areas which are Marketing throughout Malaysia digitally and through events, Product Development to further improvise the system and develop new modules to cater for the different business model and OPEX.

Our goal is to be the sole provider of the Strata Management System for the Government and accelerate the digitalization of government servuces to reduce face-to-face transactions.

VISION

Digitalise and automate the Strata Industry with technology. Closing the gap between the government and public.

INVESTORS

The initial capital was funded by the Founders who are LOH KEN-JI and JOE KAN. This Equity Crowd Funding round is ODESI’s first fund raising exercise.

FOUNDERS

LOH KEN-JI - CEO

  • 13 years corporate experience
  • 10 years management experience
  • 8 years property technology solution
  • 5 years entrepreneur experience
  • 4 years experience as project director in a public listed company

JOE KAN - CFO

  • 18 years entrepreneur experience
  • 10 years IT experience
  • 8 years corporate services handling, tax, accounts and company secretary compliance
  • 5 years experience in property management industry
TEAM

The ODESI team consist of 6 members with experience in management, business, finance, software development, prop-tech and the property industry. We strive to make an impact in the property industry by revolutionizing the conventional government process in managing strata properties.


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RISK WARNING


Equity Crowdfunding is risky. You are investing in early stage companies which may not do well and could even fail. You could lose part or all of your investment. You may not be able to sell your shares easily.

Investments are speculative and carry high risks. To decrease exposure, these types of investments should only be made as part of a diversified portfolio. Spread your risks and only invest money that you can afford to lose. pitchIN wants all investors to understand these risks and make careful investment decisions. You are also encouraged to seek independent advice.