Infomina bullish on FY23

Infomina Bhd managing director Yee Chee Meng

PETALING JAYA: Fresh from clinching the Companies Commission of Malaysia (SSM) job, Infomina Bhd is upbeat about posting a stronger performance for the current fiscal year ending May 31, 2023 (FY23), from securing more potential contracts.

The technology solutions provider has reasons to be bullish. At the same time, it also aims to ride on the digital economic wave that is sweeping the region post the Covid-19 pandemic.

Managing director Yee Chee Meng told StarBiz that it aims to grow steadily in profit every year.

The earnings and revenue growth drivers for this year would be achieved by securing more contracts domestically and abroad via with strategic alliances with its technology partners, he noted.

“We will not settle with just a single-digit growth. Malaysia’s digital economy continues to grow and escalate from the impact of the Covid-19 pandemic.

“Hence there is increased demand from our customers in terms of updating or transforming their digital and IT capacity across various industries to improve on business operations, stay competitive as well as being seen on the digital landscape during this post-pandemic phase,” he said.

He said Amazon Web Services’s RM25.5bil investment and China’s commitment to invest RM170bil in Malaysia are clear indications that the country would have a significant economic impact, as these investments provide local businesses the opportunities for growth.

He said Malaysia is also working towards becoming a digital hub in South-East Asia.

To this end, he said the government is introducing several initiatives to enhance the IT industry and supporting digital transformation.

For instance, the government has announced the Digital Economy Blueprint in 2021 to support digital transformation and to create more job opportunities, Yee noted.

For the third quarter ended February 2023, Infomina posted a net profit of RM22.7mil on the back of RM109.7mil in revenue. There were no comparative figures for the period.

Yee said Infomina has always been on expansion mode in Malaysia and abroad, being a regional support provider in terms of sales and technology expertise to countries such as the Philippines and Thailand.

“We are also putting extra effort in North Asia including hiring locals and engaging the customers as well as participating in marketing and brand awareness events.

“Our aim is always to be at the very preliminary stage to help customers design and customise digital solutions that are in line with their digital blueprint.

“Infomina has always been looking for potential opportunities in Malaysia and abroad, which include possible joint ventures,” he said.

The recent announcement of its collaboration with Software AG, a worldwide technology provider, is a crucial achievement for Malaysia’s tech industry.

Infomina’s expansion and provision of customer support are anticipated to undergo significant improvements through the implementation of Software AG’s technology solutions.

The company recently won a six-year contract from SSM, which appointed it as the service provider for its IT platform.

The SSM appointment is for six years commencing from March 31, 2023. Infomina would charge a service fee, which would be based on the actual consumption of the platform.

SSM is a statutory body formed as a result of a merger between the Registrar of Companies and the Registrar of Businesses that regulates companies and businesses. Its main activity is to serve as an agency to incorporate companies and register businesses.

Prior to that, Infomina has also received a purchase order of US$5.4mil (RM23.88mil) from the Philippine National Bank (PNB) for technology application as well as infrastructure operations, maintenance and support services.

As for the outlook of the technology sector this year, Yee said it is expected to grow and innovate, where businesses across various industries would focus and spend more than ever in composing their digital blueprint to address emerging needs and challenges.

The growth is tremendous during the Covid-19 pandemic and post-pandemic, with overseas investment coming into Malaysia, he added.

Separately, he said the challenges for the sector include a lack of digital skills and talent.

“To address this, Infomina has adopted a co-sharing talent strategy in the region and established Centres of Excellence (CoE) to create new talent. Infomina’s talent programmes aim to retain talent within the company and provide opportunities for learning and development.

“Another challenge facing Malaysia’s technology companies is funding and incentives. To overcome this challenge, these companies can work with the government to promote homegrown companies within Malaysia and the international arena.

“By doing so, the country can attract more investments, encourage innovation and create a more conducive environment for technology companies to thrive,” he said.

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