KUALA LUMPUR: Penang-based information and communication technology (ICT) solutions provider Pentech Holdings Bhd aims to achieve 40 per cent recurring revenue and 60 per cent from its non-recurring segment over the next three years.
Chief executive officer and managing director Yeoh Chin Ming said its recurring revenue consists of managed services, cloud services and new services that the company aims to offer, such as artificial intelligence (AI) and cybersecurity services.
"We have always had one-time projects of our managed services, following the handover of these projects, we actively encourage customers to subscribe to our managed services for the next one to three years, which will help increase our recurring revenue contribution towards the 40 per cent target.
"Secondly, we have been providing cloud solutions services to customers for the past eight years. We will continue to expand these services and reach out to more customers to strengthen our recurring business," he told a press conference after the company’s listing ceremony here on Monday.
Pentech made its debut on the ACE Market of Bursa Malaysia at 29 sen for a premium of nine sen or 45 per cent over its initial public offering (IPO) of 20 sen, with 14.13 million shares traded.
He said another factor that would contribute to the company is the rollout of new services, namely AI solutions, cybersecurity offerings and cybersecurity operations centre (SOC) services, which are slated to be introduced to the market this year.
Yeoh said the company has begun hiring personnel including engineers for its SOC located in Dutamas, Kuala Lumpur and the company is currently evaluating various technologies, solutions and business models before rolling them out to customers.
He added that Pentech is most likely to leverage on the emerging ICT adoption among banking financial services institution -- banking and logistics because these are the customers which have the deepest markets in Malaysia.
He also said the company is currently leveraging on the healthcare industry as it progressively adopts ICT and AI, adding that Pentech is in the process of adopting an international standard for information security management systems (ISMS).
"This is to make sure we comply with audit standards and information security requirements, and ultimately build stronger confidence among our customers in our solutions,” he said.
On Malaysia’s ICT industry outlook for this year, he said the industry remains positive despite global economic headwinds as the ICT sector continues to grow.
"Even during the pandemic, ICT became one of the most widely used technologies and industries, and it was not significantly affected as it had become a necessity,” he said. - Bernama
