Wednesday, August 15th, 2018
KUALA LUMPUR: International Data Corporation (IDC) Asean is calling for the new government to focus on public-private collaborations to achieve Vision 2020/25.
As the initial Vision 2020 set higher goals to transform the country’s society and economy, the public sector needs to step up to set the direction and planning towards building a balanced ecosystem through collaborations and creating an advanced economy.
Earlier this year, IDC revealed that Malaysia’s IT spending is expected to reach US$10 billion (RM40.9 billion) by end of 2018, with 70-75% of that still in hardware. However, the investment in digital infrastructure, software, and expertise are the fundamental areas for public sector to bridge the digital divide and drive economic growth towards Vision 2020/2025.
IDC Asean managing director Sudev Bangah said as the nation aims at establishing a scientific and progressive society, the most cutting-edge research, innovations and technologies for the country is needed to achieve these goals.
“Ultimately, the public sector should start considering how the ICT industry can fully benefit from the ‘digital economy’ as well as create economic areas of new growth whether in jobs, sectors or physical locations. A joint effort between the public and private sector will create the foundation to increase the gross domestic product (GDP), foreign investment, technological experience and expertise in the country,” he said in a statement.
IDC Asia Pacific research director Internet of Things (IoT) and telco Randy Roberts said that Malaysia is one of the countries that has organically been moving towards being extra opportunistic in the utilisation of ICT.
“The new government should implement new ways to achieve the vision especially in areas of research and development, infrastructure and science and technology. We have to start identifying how emerging technologies, such as augmented and virtual reality, cognitive/AI systems, next-gen security, IoT and robotics can create new value for Malaysia to be on the same footing as other developing countries.”
Although Malaysia is still ahead of most developing countries in digital readiness, the government should set an aggressive objective to be equivalent to leading countries in the region such as South Korea and Singapore.
According to IDC’s Market Perspective: Nations and Internet of Things: A Comparative Assessment, Malaysia is ranked number eight out of 13 Asia Pacific countries in terms of IoT readiness based on country GDP, government effectiveness, innovation, loT spending and lCT spending.
Therefore, IDC urges the expansion of wired and wireless broadband networks to provide improved internet access for consumers as well as local enterprises in Malaysia, as all groups will benefit from the growth in online services.
This year, Malaysia slipped three spots to 27th from 24th in the World Digital Competitiveness Ranking 2018. Therefore, IDC believes that public-private partnerships are imperative and public sector organisations should invest in building essential digital skills and knowledge to bolster the overall ICT industry and seek opportunities to collaborate with the private sector to help the nation in achieving Vision 2020/25.
PETALING JAYA: Kronologi Asia Bhd saw its net profit increase by 10.4% to RM4.5 million in the second quarter (Q2) ended June 30 from RM4.08 million in the previous corresponding quarter, on the back of higher revenue.
The group provides on-site and off-site enterprise data management (EDM) and data storage solutions to Asian businesses.
Revenue for the quarter rose 16.36% to RM40.43 million, compared with RM48.34 million in the same quarter last year.
The growth in revenue was driven by higher volume sales recorded in Singapore and consolidation of operating results from the group’s subsidiary Quantum Storage (Hong Kong) Ltd, it said in a statement.
For the six months period, its earnings grew 6.3% to RM6.5 million, against RM6.12 million a year ago, while revenue rose 7.7% to RM79.2 million from RM73.5 million previously.
By business segments, the group said its EDM managed services had a strong growth of 84.1% to RM4.9 million as compared with the first half of 2017.
By geography, it said Singapore accounted for RM63.1 million or 79.7% of its revenue. This was followed by Hong Kong, Taiwan and India, which collectively recorded sales of RM9.8 million or 12.4% of group revenue.
On its prospects, Kronologi said with continued momentum from the first half of the year, and barring unforeseen circumstances, the group expects its financial year 2018 performance to be better than last year.
PETALING JAYA: Global packaging manufacturer and property developer Scientex Bhd is expanding its landbank in Malacca, by purchasing two parcels of land totalling 209 acres from Real Golden Development Sdn Bhd for RM68.2 million.
Together with the group’s existing 197 acres land in Scientex Durian Tunggal, the enlarged township would consist of a formidable 406 acres in total.
Scientex recently launched 116 units of affordable landed homes in the township under the Rumah Mampu Milik Melaka (RMM) programme in July 2018.
To-date, Scientex has launched 660 units of affordable landed homes in the township since its maiden launch in end-2017.
Scientex Bhd managing director Lim Peng Jin said he believes the land acquisition is timely, as the enlarged landbank in the area strongly supports its ever-growing development plans and future launches in the state. Additionally, this move brings it a step closer to achieving its aim to build 50,000 affordably-priced quality homes throughout the nation by 2028.
The purchase is subject to approval by the Estate Land Board, and is expected to be completed in the first half of 2019. It will be financed by internally generated funds and/or bank borrowings.
PETALING JAYA: Petronas Gas Bhd’s earnings rose 19.7% to RM509.3 million in the second quarter (Q2) ended June 30 from RM425.3 million in the previous corresponding quarter in tandem with higher revenue.
Revenue for the quarter grew 15.7% to RM1.36 billion, compared with RM1.17 billion in the same period last year, mainly contributed by the group’s new LNG regasification terminal in Pengerang, Johor which commenced commercial operations in November 2017.
“This was further supported by higher revenue from all segments,” the group said in a filing with Bursa Malaysia.
For the six months period, its net profit increased by 11.7% to RM992.55 million, against RM888.56 million a year ago, while revenue jumped 15.6% to RM2.7 billion, from RM2.34 billion previously.
On its prospects, the group said that its performance is expected to remain stable on the back of its strong and sustainable income streams from existing gas processing, gas transportation and regasification service agreements signed with Petronas.
The group added that its utilities segment will continue to contribute positively to its results, noting that its regasification segment results will benefit from full year contribution of the new LNG Regasification Terminal in Pengerang, Johor.
It has approved a second interim dividend of 16 sen per ordinary share amounting to RM316.6 million in respect of the financial year ending Dec 31.
PETALING JAYA: Press Metal Aluminium Holdings Bhd’s earnings was up 6.9% to RM160.6 million in the second quarter ended June 30, 2018 (Q2 2018) from RM150.2 million in the previous corresponding quarter mainly due to revenue recognition from a new subsidiary and higher metal price.
The group told the stock exchange it completed the acquisition of Leader Universal Aluminium Sdn Bhd (LUA) last March, wherein its revenue was consolidated into the group in Q2 2018.
Revenue for the quarter rose 24.7% to RM2.4 billion, from RM1.9 billion in the same period last year.
For the six months period, its net profit jumped 4.3% to RM311 million, against RM298 million a year ago, while revenue increased 17.3% to RM4.56 billion, from RM3.89 billion previously.
On its prospects, Press Metal said that its plan to increase its value-added products from its smelting operations is panning out well and on track to achieve 50% contribution by year-end.
Barring unforeseen circumstances, the group expects to achieve a satisfactory result for the remaining of the year.
Its shares tumbled 11 sen or 2.25% to RM4.79 today with 1.59 million shares done.
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