Rosy outlook for Datasonic with good opportunities ahead

DATASONIC Group Berhad, a security-related integrated solutions provider with proven track record, has concluded its virtual 12th annual general meeting (“AGM”) and extraordinary general meeting (EGM) today.

After the AGM, Datasonic non-executive chairman, retired general Mohamed Hashim Ali said on a positive note that the outlook for the company was bright as the board saw good opportunities in the areas of digital transformation in public security, public healthcare as well as e-commerce.

“Our focus remains in intensive research and development and providing world class integrated solutions and excellent services to our customers that will exceed their expectations and give them value for money,” he said.

“Backed by our deep experience, established technical capabilities as well as our proven track record in the public and financial sectors, we are confident of leveraging on our strengths to secure new projects and to bring the company to greater heights,” added  Hashim.

Datasonic closed the financial year ended March 31, 2020 (FY20) on a high note by registering a double-digit growth of 65.1% year-on-year (yoy) to RM60.3 million for its profit after tax and non-controlling interest.

The strong improvement was primarily attributed to higher supply of smart cards & consumables, passports, and personalisation & maintenance services.

Meanwhile, the Group’s managing director, Razali Mohd Yusof stated although Datasonic posted softer results for the first quarter of the new financial year ending March 31 2021, as a result of the movement control order, the Group expected performance to normalise in the subsequent quarters.

“Orders from our customers have been picking up and we expect the demand for passports to increase further once travel restrictions are lifted. We are also working hard on several potential projects to enhance the value of the company,” Razali highlighted.

Shareholders had approved all resolutions tabled at the virtual AGM today.

An extra general meeting was held immediately after the AGM, in which shareholders approved a bonus issue exercise, on the basis of one bonus share for every one share held.

The entitlement date for the bonus issue will be announced at a later date and is expected to be completed in the fourth quarter of 2020.

Datasonic declared a total dividend per share of 3.0 sen in the financial year ended March 31, 2020 compared to 2.5 sen in the financial year ended March 31, 2019.

The Group has been consistently paying dividends every year since its listing in 2012.

As at 12.29pm, Datasonic shares stood at RM1.08 with 1.46 bil market capital. – Sept 17, 2020

 

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