PRIVA (0123) - Privasia Technology to boost revenue after RM31mil contract from Survey Department
1 December 2014
"This is the second time we are serving Jupem on a larger scale with wider job scope in terms of managed services," Chief executive officer and managing director Puvanesan Subenthiran (pic) told StarBiz."
"This is the second time we are serving Jupem on a larger scale with wider job scope in terms of managed services," Chief executive officer and managing director Puvanesan Subenthiran (pic) told StarBiz."
PETALING JAYA: Privasia Technology Bhd expects its revenue to grow in the coming year after securing RM31.5mil worth of contracts from the Department of Survey and Mapping Malaysia (Jupem) and the Kuantan Port.
The nationwide deal with Jupem was inked in May to undertake remedial and preventive maintenance of its “eKadaster” system, a comprehensive register of a particular real estate or property, which included details of ownership, tenure and value.
Scheduled to run over the next two years, the project commenced in the second quarter of 2014 and would support Jupem’s mapping system.
The group was also awarded two contracts tied to Kuantan Port which is owned by IJM Corp Bhd. They are to design, supply, intergrate and support for Container Terminal Operating System (CTOS) and Multi-Purpose Terminal Operating System (MTOS). This project commenced in the third quarter of 2014 and is expected to run over three years.
Chief executive officer and managing director Puvanesan Subenthiran (pic) said the group was confident that its recent deals would further boost the group’s recurring income.
“This is the second time we are serving Jupem on a larger scale with wider job scope in terms of managed services. What we hope to achieve is to help it with operational efficiences by freeing up time, resources and attention so that Jupem can focus more on core operational functions, without being distracted by support functions,” Puvanesan told StarBiz, adding that the first contract with Jupem was awarded in 2012 and expired in 2013.
Elaborating on the Kuantan Port project, Puvanesan said the CTOS was a solution from its partner Primus Ltd Indonesia, which had over 20 sites across Indonesia.
He said MTOS was the group’s homegrown solution and currently used by Westports and Kemaman Port.
“MTOS is our Conventional Cargo System, developed internally by Privasia and designed with the functions and features to cater for ports.
“However some customatisations are required to fit the business process of the ports, especially the billing process,” he says.
Privasia’s net profit for its third quarter ended Sept 30 jumped 34% to RM1.03mil from RM769,000 in the previous corresponding year, mainly due to the healthy double-digit growth in the outsourcing and consulting (OSD) and satellite based network services (SAT) segments.
The group’s revenue climbed 28% to RM17.8mil from RM13.9mil a year earlier. Earnings per share rose 0.18 sen from 0.13 sen.
For the nine months to Sept 30, Privasia’s net profit fell 15% to RM3.3mil or 0.57 sen per share from RM3.91mil or 0.7 sen per share a year ago, mainly due to investment in resources for the long-term contracts the group had acquired this year. Revenue, however, rose 4.6% to RM45.3mil from RM43.3mil.
Privasia’s share prices had been going up for the last couple of weeks. Trading at only 17 sen recently, it has appreciated about 79% year-to-date.
Puvanesan said the group was seeking to expand its customer base in the OSD segment and currently looking for opportunities to serve the telecommunication sector. “The telecommunication sector typically incurs heavy investments for continuous upgrading of hardware and software to provide an enhanced spectrum of services,” said Puvanesan, adding that the company was also working closely with its regional partners to enter new business opportunities.
The group’s order book stands at RM159.3mil which will keep the company busy until 2020.
Apart from OSD segment, which makes up more than half of the group’s revenue and SAT, Privasia has two other business segments in its portfolio, namely e-procurement (E-PROC) and ICT distribution and services (CDIST and CSERV).
The group’s unit, Privanet Sdn Bhd, which focuses on niche sectors such as telecommunications and broadcasting in Malaysia and in the Asean region, had turnaround this year after incurring losses since 2010. Privanet (the group’s CSERV segment) was established in 1999 as a software application developer and integrator, specialising in short messaging services solutions. It provides a comprehensive range of mobile and wireless communication solutions to address business challenges faced by customers.
On the outlook for 2015, Puvanesan was optimistic about seeing growth as outsourcing remained the preferred option whenever companies wanted to optimise costs.
1 December 2014
http://www.thestar.com.my
1 December 2014
"This is the second time we are serving Jupem on a larger scale with wider job scope in terms of managed services," Chief executive officer and managing director Puvanesan Subenthiran (pic) told StarBiz."
"This is the second time we are serving Jupem on a larger scale with wider job scope in terms of managed services," Chief executive officer and managing director Puvanesan Subenthiran (pic) told StarBiz."
PETALING JAYA: Privasia Technology Bhd expects its revenue to grow in the coming year after securing RM31.5mil worth of contracts from the Department of Survey and Mapping Malaysia (Jupem) and the Kuantan Port.
The nationwide deal with Jupem was inked in May to undertake remedial and preventive maintenance of its “eKadaster” system, a comprehensive register of a particular real estate or property, which included details of ownership, tenure and value.
Scheduled to run over the next two years, the project commenced in the second quarter of 2014 and would support Jupem’s mapping system.
The group was also awarded two contracts tied to Kuantan Port which is owned by IJM Corp Bhd. They are to design, supply, intergrate and support for Container Terminal Operating System (CTOS) and Multi-Purpose Terminal Operating System (MTOS). This project commenced in the third quarter of 2014 and is expected to run over three years.
Chief executive officer and managing director Puvanesan Subenthiran (pic) said the group was confident that its recent deals would further boost the group’s recurring income.
“This is the second time we are serving Jupem on a larger scale with wider job scope in terms of managed services. What we hope to achieve is to help it with operational efficiences by freeing up time, resources and attention so that Jupem can focus more on core operational functions, without being distracted by support functions,” Puvanesan told StarBiz, adding that the first contract with Jupem was awarded in 2012 and expired in 2013.
Elaborating on the Kuantan Port project, Puvanesan said the CTOS was a solution from its partner Primus Ltd Indonesia, which had over 20 sites across Indonesia.
He said MTOS was the group’s homegrown solution and currently used by Westports and Kemaman Port.
“MTOS is our Conventional Cargo System, developed internally by Privasia and designed with the functions and features to cater for ports.
“However some customatisations are required to fit the business process of the ports, especially the billing process,” he says.
Privasia’s net profit for its third quarter ended Sept 30 jumped 34% to RM1.03mil from RM769,000 in the previous corresponding year, mainly due to the healthy double-digit growth in the outsourcing and consulting (OSD) and satellite based network services (SAT) segments.
The group’s revenue climbed 28% to RM17.8mil from RM13.9mil a year earlier. Earnings per share rose 0.18 sen from 0.13 sen.
For the nine months to Sept 30, Privasia’s net profit fell 15% to RM3.3mil or 0.57 sen per share from RM3.91mil or 0.7 sen per share a year ago, mainly due to investment in resources for the long-term contracts the group had acquired this year. Revenue, however, rose 4.6% to RM45.3mil from RM43.3mil.
Privasia’s share prices had been going up for the last couple of weeks. Trading at only 17 sen recently, it has appreciated about 79% year-to-date.
Puvanesan said the group was seeking to expand its customer base in the OSD segment and currently looking for opportunities to serve the telecommunication sector. “The telecommunication sector typically incurs heavy investments for continuous upgrading of hardware and software to provide an enhanced spectrum of services,” said Puvanesan, adding that the company was also working closely with its regional partners to enter new business opportunities.
The group’s order book stands at RM159.3mil which will keep the company busy until 2020.
Apart from OSD segment, which makes up more than half of the group’s revenue and SAT, Privasia has two other business segments in its portfolio, namely e-procurement (E-PROC) and ICT distribution and services (CDIST and CSERV).
The group’s unit, Privanet Sdn Bhd, which focuses on niche sectors such as telecommunications and broadcasting in Malaysia and in the Asean region, had turnaround this year after incurring losses since 2010. Privanet (the group’s CSERV segment) was established in 1999 as a software application developer and integrator, specialising in short messaging services solutions. It provides a comprehensive range of mobile and wireless communication solutions to address business challenges faced by customers.
On the outlook for 2015, Puvanesan was optimistic about seeing growth as outsourcing remained the preferred option whenever companies wanted to optimise costs.
1 December 2014
http://www.thestar.com.my
