THE underlying uncertainty and risks posed by the COVID-19 pandemic to most businesses with potential of prolonged lockdowns, spell opportunity for home-grown human capital management (HCM) solutions and technology provider Ramssol Group Bhd.
This is an area where Ramssol can continue to drive business performance and agility with its creative technology solutions while enriching and empowering organisations’ daily business activities, according to its group managing director and CEO Cllement Tan Chee Seng.
Among its suite of solutions, the company recently launched an improved version of Feet’s, an employee engagement mobile application emphasising content personalisation and employee advocacy features with gamification capabilities.
These new upgrades – together with in-app integration through a partnership with Zoom Video Communications Inc – enhances the connections between employees working remotely.
“We are optimistic for the company’s prospect and excited for the future growth as digital transformation trends in HR and businesses have opened up many opportunities for us,” opined Tan.
Ramssol is aggressively expanding its regional footprint in Southeast Asia by entering the Philippines market which is expected to drive the continued growth for the company and strengthen its position as the leading regional HCM solution and technology specialist.
Looking ahead, Tan expects Ramssol to remain focused on delivering innovative HR tech solutions with the latest end-to-end technology while expanding business across Southeast Asia.
Ramssol posted a 51.8% year-on-year (yoy) jump in revenue to RM7.71 mil for its 2Q FY2021 ended June 30, 2021 (2Q FY2020: RM5.08 mil) while its net profit rose 137% yoy to RM1.99 mil (2Q FY2020: RM840,000).
The increase in revenue and net profit was mainly driven by the continuity of projects for the provision of HCM technology applications in Malaysia. Malaysia remains Ramssol’s leading market, contributing 85.47% or RM6.59 mil to the company’s revenue followed by Singapore at 8.30% (RM640,000).
For the 6M FY2021 period, Ramssol recorded revenue of RM12.79 mil with a net profit of RM2.83 mil.
“COVID-19 related uncertainties continue to pose risks to most businesses and different countries have their own iterations of lockdowns that have led to most companies adopting a work-from-home policy,” Tan pointed out.
“Likewise, educational institutions have also adopted a home-based study curriculum. The new normal accelerating these business trends presented us opportunities and we believe the demand for HCM solutions and technology applications will continue to grow substantially.”
At the close of yesterday’s trading (Aug 27), Ramssol was up 0.5 sen or 0.63% to 79.5 sen with 10.9 million shares traded, thus valuing the company at RM133 mil. – Aug 28, 2021
