Teras is the creator, developer, and leading system integrator of Touch n Go and SmartTAG in multiple platform technology widely use through out Malaysia as highway, parking and public transportation payment as well as access system by over 4 million users (as at February 2007).
At the same time, all of the companies which had their IT departments merged into Teras continue in engaging Teras as the outsourcing partner for their own IT needs.
By end of 1996, Teras has installed the system for Penang Bridge, North-South Expressway Central Link (ELITE) and North-South Expressway (NSE / PLUS Expressways) nationwide highway network of over 800 lanes. In 1997, Teras then expanded to its first international venture as toll system supplier and integrator for Manila-Cavite Highway, Philippines.
1997 marked as the year when Teras was the first company in the region to has introduced Electronic Toll Collection (ETC) System, beginning with North-South Expressway (NSE/PLUS) that was the predecessor of SmartTAG.
The company peaked nearing the end of the 90’s. In 1998, sales breached the twenty million dollars mark. Over one hundred and forty employees worked for Teras Teknologi with over forty of them dedicated in R&D division alone. During that time, the company diversified further and won contracts to supply total network environment and IT requirements for the Commonwealth Village in Bukit Jalil, in conjunction with Commonwealth Games hosted by Malaysia in 1998. At the same year, Teras was also contracted to design, build and equipped TIME dotCom data center in Glenmarie, Shah Alam.
In 1999, Teras began to focus most of its attention on transportation industry requirements. Started with automation of toll collection system with the introduction of Touch n Go with Rangkaian Segar and introduction of SmartTAG in the year 2000.
Teras then moved to parking automation solution capitalizing on Touch n Go platform in 2001 with the first installation for 12 parking sites for Lien Hoe Group. It has grown to over 30 sites over the next 2 years.
The millennium set the pace for further growth with diversification of usages has been expanded to public busses and trains under Rapid KL wings and trains of KTM Komuter.
In 2002, the same technology platform developed by Teras was also deployed as door access system for TIME Engineering, UEM Group, UEM Land, Macroworks, Tenaga Nasional Berhad (TNB) and various other companies; totaling to over 100 doors.
As of 2006, Teras has installed over 1100 cash highways lanes, 418 Touch n Go lanes, 198 SmartTAG lanes, 80 parking lanes, and over 100 doors; with USD150 million dollar contract delivered to date (1994-2007) Teras has now become one of the leading payment system provider in Malaysia with dominance in highways sector.
June 2007, North-South Expressway (NSE) awarded Teras 2 years contract for the outsourcing of equipments and spares worth USD4.2 million dollar.
Teras currently manage total highway management system for 966 kilometres North-South Expressway, North Klang Valley Expressway, Malaysia-Singapore Second Link, Damansara-Puchong Expressway and Sprint Expressway. In total Teras manages all currently operational twenty-one highway operators in Malaysia.
Teras also manages six companies of their IT requirements through its IT Outsourcing services (Managed Services).
New solutions developed and introduced by end 2006 are the SmartTAG Upgraded Version currently installed at 18 lanes of Sprint and Damansara-Puchong Expressway; and Automatic Vehicles Classification (AVC) second generation; component of Electronic Toll Collection System at 38 lanes of Kajang Dispersal Link Expressway (SILK).
Daily operations of Teras handle by Ir. Abd. Rahim Seliman, General Manager of Operations.
Teras Teknologi plan for listing in Kuala Lumpur Stock Exchange (KLSE) in 2009.