ARB upbeat of growth prospects with rising adoption of new tech

MAIN Market-listed information technology (IT) software and platform provider ARB Bhd is confident of taking advantage of growth opportunities emanating from rising technology adoptions such as artificial intelligence (AI), cloud computing, 5G, robotic process automation (RPA), Internet of Things (IoT) and hyper-connectivity in businesses.

Moreover, the Malaysian Government has also emphasised on the development of digital economy through connectivity, investments in domestic technology-based companies and the strengthening of cybersecurity measures under the Budget 2023.

The rising adoption of new technology and digital transformation of businesses in Malaysia will offer growth opportunities for ARB as it expands its product and service offerings. This explains the group’s optimism in its growth prospect which is in tandem with its resilient earnings during 1Q FY6/2023 ended Sept 30, 2022.

ARB registered revenue of RM67.8 mil and net profit of RM3.2 mil during that period which was mainly generated from its existing CRM (customer relationship management) and IoT segments.

There was no comparative financial information available as the group has changed its financial year from Dec 31 to June 30.

“We are proud to announce a profitable financial performance during the quarter despite rising challenges and macro headwinds,” commented ARB’s executive director Datuk Seri Larry Liew Kok Leong

“Our resilient business model has helped us to withstand these near-term challenges and take advantage of the rising digital adoption to grow our earnings.”

Datuk Seri Larry Liew Kok Leong

According to Liew, ARB’s potential growth prospect is huge as seen by the adoption of digitalisation in Malaysia.

“Our strong track record and expansion into CRM and IoT segments put us in a strong position to capture additional market shares,” he contended.

“We can also leverage our existing business network and track record to push forward our expansion. In the long-term, we are confident that our focus on the rising tech trends will help us create a sustainable recurring income that adds value to our shareholders.”

Moving forward, Liew expects ARB to continue delivering profitable growth and return of capital to the shareholders.

“We will also continue to prioritise opportunities by collaborating with our potential M&A (merger and acquisition) target to expand our geographical presence by taking advantage of cross-border business opportunities in 2023 onwards,” he added.

At 3.45pm, ARB was down 0.5 sen or 4.17% to 11.5 sen with 561,000 shares traded, thus valuing the company at RM140 mil. – Nov 22, 2022

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