PETALING JAYA: Main Market-listed information technology (IT) software and platform provider ARB Bhd is confident to take advantage of the growth opportunities with the rising technology adoptions such as Artificial Intelligence (AI), cloud computing, 5G, robotic process automation (RPA), Internet of Things (IoT) and hyper-connectivity in businesses.
Executive director Datuk Seri Larry Liew Kok Leong (pic) said that the group’s resilient business model has helped it withstand the near-term challenges and take advantage of the rising digital adoption to grow its earnings.
“The potential growth prospect for ARB is huge, as seen by the adoption of digitalisation in Malaysia. Our strong track record and expansion into (customer relationship management) CRM and IoT segments put us in a strong position to capture additional market shares.
“We can also leverage our existing business network and track record to push forward our expansion. In the long-term, we are confident that our focus on the rising tech trends will help us create a sustainable recurring income that adds value to our shareholders,” he said in a statement on Nov 21.
The group expects to continue delivering profitable growth and return of capital to the shareholders.
Liew added that the group will continue to prioritise opportunities by collaborating with the potential mergers and acquisitions target to expand its geographical presence by taking advantage of cross-border business opportunities in 2023 onwards.
ARB said that its optimism on its growth prospect is in line with its earnings during the first quarter of its financial year ended Sept 30, 2022 (Q1’23).
In addition, it registered revenue of RM67.8 million and a profit after tax of RM3.2 million in the Q1’23, which was mainly generated from the existing CRM (Customer relationship management)and IoT segments.
The group said that its financial year end has been changed from Dec 31 to June 30. As such, there will be no comparative financial information available for the preceding year corresponding period.
In Malaysia, it said the government has emphasised the development of the digital economy through connectivity, investments in domestic technology-based companies and strengthened cybersecurity measures under the Budget 2023.
The rising adoption of new technology and digital transformation of businesses in Malaysia will offer growth opportunities for ARB as it expands its product and service offerings.