VSTECS to focus on enterprise and public sector data centres

PETALING JAYA: Vstecs Bhd will be focusing on enterprise and public sector data centres for this year.

In a filing with Bursa Malaysia, the company said its recent launch of the AWS cloud services distributorship and potential new enterprise products will boost its profit and revenue.

“We are excited about the new consumer and enterprise products to be launched this year and we are optimistic of the second quarter and the balance of 2024,” it said.

VSTECS’ net profit for the first quarter ended March 31, 2024 (1Q24) dipped slightly to RM14.32mil from RM14.85mil.

Meanwhile, revenue in 1Q24 slipped to RM616.36mil from RM664.74mil in the previous corresponding quarter.

VSTECS said the revenue drop was attributable to the lack of project deals from Enterprise Systems due to the festive seasons

Basic earnings per share stood at 4.00 sen in 1Q24, compared with 4.20 sen in 1Q23.

Last week, VSTECS, via its wholly-owned subsidiary, VSTECS KU Sdn Bhd, announced that it would offer AWS’ portfolio of highly scalable and cost-effective cloud services, including compute, storage, databases, analytics, networking, and application services to enterprises in the private and public sectors in Malaysia.

In a statement, the company said its extensive network of channel partners and expertise in cloud services will ensure seamless access and support for Malaysian businesses looking to migrate to the cloud or optimise their existing cloud infrastructure.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

VSTECS , data centres , AWS


Next In Business News

Ringgit opens higher against US$, major currencies
Trading in Well Chip shares commences with 50% jump
Bursa Malaysia rebounds as investors find their footing
Trading ideas: MAHB, RCE, Crescendo, Eversendai, Grance Central, Protasco, YX, Managepay
Oil drops as investors look past Biden exit, focus on weak fundamentals
Wall St closes higher as investors return to megacap stocks
Protasco falls on disposal of education unit
SC warns public about deepfake investment scams
Mixed reaction from investors to Biden exit
PBoC cuts key policy rate to buoy economy

Others Also Read