The forecast turnover is roughly 35 percent higher than the US$8 million to US$10 million which the company chalked up for its regional sales in the fiscal year ended October 2000, he added.
NETg's Asia Pacific headquarters is based in Sydney, Australia, and approximately half of its regional revenue comes from Australia and New Zealand.
Globally, the subsidiary of New York Stock Exchange-listed company Harcourt generated roughly US$300 million worldwide.
Dow was speaking to reporters Friday, when the company announced the setting up of a local office, which will serve as its Asean headquarters.
Presently, NETg has two staff in Singapore, though the number is expected to grow to 4 by year end, Dow said.
When asked about the challenges NETg faces in conducting its business in Asia Pacific, Dow explained that having to create its e-learning solutions in various languages was foremost.
However, he did not provide details as to the resources channeled into translation and localization.
With offices in Australia, New Zealand and Singapore as well as channel presence in Korea and Japan, the company has set its eyes on opening a new office in Hong Kong by June to serve markets in that part of the region, including China and Taiwan, he added.
As earlier reported on Singapore.CNET.com, International Data Corporation (IDC) expects the information technology (IT) training market in Asia Pacific, excluding Japan, to grow about 160 percent by 2004.
IDC senior analyst for IT services research Sujoy Sen noted that the Indian IT education and training market is the largest and most important in Asia Pacific, in terms of revenue.
"The total (Indian) market reached US$216 million in 1999 and is expected to grow at a 26 percent compounded annual growth rate (CAGR) between 1999 and 2004," he said then.
Sujoy named India's NIIT and Aptech, as well as Singapore's Informatics Holdings Ltd, as the vendors to look out for in the Asia Pacific (ex Japan) IT training and education market. Other vendors mentioned were Oracle, Microsoft, SAP and Cisco Systems.
When asked why NETg plans to expand to Hong Kong, with no mention of India, given the vast opportunity, Dow explained: "We are aware of the potential in the Indian market.... Unfortunately, NETg's Asia Pacific region does not include India.... It falls under EMEA (Europe, Middle East and Africa)"
"I've seen the numbers for India and believe me when I say I have asked my bosses to move India under Asia Pacific," he quipped.
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