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Chow brothers plan to invest NZ$100 million in technology
Posted on 24-Sep-2017 16:24 | Tags Filed under: News



NBR Rich-Listers John and Michael Chow, have announced an intention to focus at least 25% of their growth investment on information technology sector by 2020. Chows have a target of one billion assets by 2020 and indications are that they are setting up to invest in leading-edge technology systems to get them there.

 

“Seven years ago we invested $3M into an offshore IT start-up business as a punt and lost the lot” says John Chow. “But we learned from that loss and we are smarter for it. We were actually before our time. But we know now that the time is now right to invest in smart technology in certain market areas”.

 

Chow uses his Inno Capital finance company as an example of a sector which can grow rapidly with smart technology. “We are already a fast-growing lender but to grow at the pace we have targeted we need world-leading technology, so we are on the hunt and have already had some high-level meetings with industry leaders”.

 

Chow cites building industry systems and property maintenance systems as two other areas of interest, no doubt fuelled by his group’s ownership of Stonewood Homes and Stonewood Fire Services.

 

“I see our various business groups as soldiers, all marching forward to collectively grow the group. If one soldier stumbles we have an army of others to pick them up. I see a significant IT investment as another key soldier that can assist all the others to grow even faster”, says Chow.

 

Asked to be more specific, John Chow was reluctant to refer to particular potential targets. “My degree is in Computer Science so that might give a hint as to what are of IT excites me. But I’m open to be convinced from market players where we should invest”.

 

 

 







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