Malaysia's Pensonic mulls going into producing IoT devices with US companies

  • Business
  • Thursday, 27 Nov 2014

GEORGE TOWN: Pensonic Holdings Bhd is exploring to manufacture value-added internet of things (IoT) devices and wearable smart devices in partnership with US companies.

Group chief executive officer Dixon Chew said that the group could also distribute innovative IoT devices in the Asean region.

“We can work with our small and medium contract manufacturers here to make the products and then use our marketing networks to distribute them in the region,” he said.

Chew said the new products would likely to be labelled under a different brand name, so that they are distinguishable from the group’s conventional home and kitchen appliances branded under Pensonic.

According to Chew, the group would release new smart phone accessories in early 2015 under a new brandname.

Presently, the domestic market generates about 70% of the group’s revenue, while the foreign segment the remaining 30%.

“The Asean and Middle-East markets are still important for the group,” he added at a press conference after an AGM.

He said notwithstanding any unforeseen circumstances to the economic climate, the company expected the financial performance for the next financial year to remain satisfactory.

“We assure our shareholders that we are committed to working hard to enhance the profitability of our future business in a sustainable manner,” he said.

For its first fiscal quarter ended Aug 31 2014, the group posted a net profit of RM1.9mil on the back of RM106mil, compared to RM3.9mil and RM102mil achieved in the previous year’s corresponding period.

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