PETALING JAYA: DRB-Hicom Bhd’s unit Proton Edar Sdn Bhd is forming a joint venture (JV) company with Altel Communications Sdn Bhd and Ecarx (Hubei) Technology Co Ltd.
In a filing with Bursa Malaysia, DRB-Hicom said the JV company will provide research and development, sales and services of vehicle connectivity, digital cockpit, safety, autonomous vehicle and IoT technology related products.
According to DRB-Hicom, the proposed JV would benefit the Proton Holdings Bhd group in gaining the technological know-how in high digital technology product and services in relation to the automotive industry.
“It also creates opportunity for the Proton Holdings group to establish a car connectivity research and development centre in Malaysia for future products enhancement to suit local and regional ecosystem, and also for export countries with better and higher standard of services,” it said.
Proton Edar is a wholly owned subsidiary of Proton Marketing Sdn Bhd, which in turn is a wholly-owned subsidiary of Proton Holdings. Proton Holdings is a 50.1%-owned subsidiary of DRB-Hicom.
Under the JV agreement, Proton Edar will hold a majority stake of 60% while Altel and Ecarx will hold 30% and 10% respectively, with a total capital contribution of RM6 million from the three parties.
Proton Edar has proposed to fund its capital contribution of RM3.6 million in the JV company from its internally generated funds.
Incorporated in Hubei, China, Ecarx is involved in intelligent automobile and network connection, digital cockpit electronic products, active safety electronic products, unmanned sensors and controllers, as well as the operation services of Internet of vehicles cloud platform and big data platform.
Meanwhile, Altel’s principal activities include providing network facilities, network services and application services mainly in the provision of public cellular and mobile internet service.
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PETALING JAYA: Maxis Bhd saw its net profit in the fourth quarter ended Dec 31, 2018 (Q4FY18) tumble 51% to RM266 million, from RM541 million in the previous corresponding quarter.
The group said in a statement today that its net profit was impacted by one-off costs in Q4FY18, associated with the launch of a new strategy to become a converged communications and digital services company in both the fixed and mobile markets.
Revenue for the quarter up slightly by 3% to RM2.45 billion, compared with RM2.38 billion in the same quarter a year ago.
For the full year, its net profit fell 18% to RM1.78 billion, against RM2.18 billion a year ago, while revenue marginally down by 2% to RM9.19 billion, from RM9.42 billion previously.
In FY18, its service revenue dipped by 2.5% to RM8.07 billion from RM8.27 billion in FY17, while prepaid revenue declined 11.4% to RM3.4 billion from RM3.84 billion previously, mainly due to SIM consolidation and migration to postpaid.
However, Maxis said the Hotlink RED prepaid offering showed positive traction with growth in Mobile Internet which now accounts for 57.1% of prepaid revenue, contributing to a high and stable prepaid average revenue per user (ARPU) of RM42 per month.
“With the introduction of attractive and affordable plans, fibre revenue improved by 17% to RM359 million from RM306 million and our base grew by 33% with over 249,000 home and enterprise subscribers,” it added.
Meanwhile, the group said its normalised earnings before interest, taxes, depreciation and amortization (ebitda) margin on service revenue remained stable at 47.6%, driven by a focus on profitable segments and cost optimisation initiatives.
Nevertheless, its normalised ebitda was down 8.4% to RM3.84 billion in FY18, from RM4.2 billion in FY17, primarily due to one-off costs in Q4FY18 associated with the new strategy, including migration of the existing fibre base to new plans.
Maxis declared a fourth interim dividend of 5 sen net per share for the financial year under review, which brings the full dividend for the year to 20 sen per share.
PETALING JAYA: Aturmaju Resources Bhd’s (ARB) unit ARB Development Sdn Bhd has inked a memorandum of understanding with Yes’s Comm Enterprise Sdn Bhd (YESS) for RM20 million per year contract to provide enterprise resources planning system integrated solutions.
YESS is involved in communications and mobile services such as voice, messaging, mobile internet, broadband and fibre internet, while ARB is engaged in the business of information technology (IT) and software solutions. ARB said that the expected value of more than RM20 million gross merchandise value was derived based on the recognition of top line or sales from YESS.
ARB CEO (Investment and Technology) Datuk Larry Liew said the system aims to accurately map inventory assortments against consumer preferences and seasonal trends across YESS’ operations/outlets.
“This ultimately provides better customer service with an improved, more real-time understanding of what is selling and what is not.
“Aturmaju, which has recently diversified into the information and communications technology segment, is committed to invest and develop innovative technology and tools that enable us to present our customers with a unique and cutting-edge solution,” Liew added.
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