PETALING JAYA: Mtouche Technology Bhd plans to further diversify its revenue streams by strengthening its wellness business by riding on technological advancements.
This includes setting up and operating a one-stop health and wellness studio, a recovery studio and a fitness studio. This will be supported by the usage of a digital healthcare platform developed by the group.
This decision to further expand into the wellness business is led by the Covid-19 pandemic. This is so since there is an emerging trend that consumers are increasingly looking beyond physical fitness in striving for optimal health.
In its annual report 2020/2021, mTouche said consumers want a more holistic approach to include wellness and lifestyle such as sleep quality, mental health and emotional well being all under the same roof such as a Health Studio.
The proliferation of wearable health sensor monitors with Internet of Things (IoT) capabilities, combined with the power of health applications, has transformed the way consumers observe and monitor their health statistics to maintain a healthy lifestyle.
Consumers are also becoming increasingly dependent on mobile applications to organise their life.
The group intends to develop a digital healthcare platform that is IoT-enabled. This will allow its customers to continuously monitor and record their health statistics and share them with their healthcare provider.
It currently also distributes and sells the Covid-19 test kits besides its mobile value-added services (VAS) business.
“We aim to enhance profitability and strengthen our market presence in order to support our long-term sustainability and growth.
“We will remain committed to providing quality solutions and services, as well as continuously improve our solution and services in order to expand our customer base and grow our business locally and regionally,’’ it said.
On its mobile VAS business, it said the group has been facing challenges for some years now. This is led mainly by increasing competition within the industry arising from new development in mobile technologies and recently, the weakened demand with the pandemic.
But it remains hopeful as it believes the industry outlook for mobile VAS continues to be favourable.