VSTECS optimistic after 24% 1Q25 profit growth
The ICT distributor noted that despite cautious consumer sentiment amid ongoing uncertainties, both the enterprise and public sectors remain focused on advancing their digitalisation and AI transformation agendas, highlighting continued resilience within the ICT sector.
'Growth is also being supported by the launch of new consumer devices, a surge in enterprise infrastructure projects, and increased public sector ICT spending, which is reflected in our sales opportunity,' VSTECS said in a filing with Bursa Malaysia.
In 1Q25, VSTECS' net profit rose 24% to RM17.7mil, or earnings per share of 5.00 sen compared with RM14.3mil, or 4.00 sen in the year-ago quarter.
The higher revenue was due to broad-based growth, with all three business segments — ICT distribution, enterprise systems, and ICT services — recording year-on-year increases, driven by strong digitalisation trends.
'This is our best first quarter performance and signals a strong start to FY2025. We are benefiting from multiple growth vectors, and ICT spending remains resilient amid the relentless pace of digital adoption, expanding AI use cases, and rising demand for next-generation technologies,' chief executive officer JH Soong said in a statement.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
4 hours ago
- New Straits Times
Bursa CEO: Malaysia's capital market resilient, poised for growth
KUALA LUMPUR: Malaysia's capital market remains resilient and well-positioned for growth, Bursa Malaysia chief executive officer Datuk Fad'l Mohamed said. This is supported by strong fundamentals, proactive policies and rising opportunities in strategic sectors. "The strong momentum of initial public offerings (IPOs) reflects the confidence of Malaysian businesses, as they expand and tap the capital market to power their next phase of growth," he said on the sidelines of Invest Malaysia 2025 series (IM 2025) in Singapore today. As at Aug 1 this year, Bursa Malaysia had 39 IPOs listed, a 39 per cent increase year-on-year compared to the same period in 2024, said Fad'l. It maintained lead position in the Asean region for total number of IPO listings, and total IPOs funds raised," Fad'l said. "This demonstrates a thriving market where companies are growing, creating value and offering opportunities for investment. "As a multi-asset exchange, Bursa Malaysia remains committed to enhancing the vibrancy and depth of our markets, to support Malaysia's economic momentum and propel its competitiveness globally," he added. Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz, in his keynote address highlighted that shifting global trade dynamics are reshaping supply chains. This suggests that open economies such as Malaysia and Asean need to be responsive and build resilience. He outlined Malaysia's priorities as Asean chair to strengthen regional resilience and position the region as an investible asset class, while calling for deeper regional economic integration to safeguard the region's growth trajectory in an increasingly fragmented global economy. Tengku Zafrul continued his insights in a fireside chat moderated by Fad'l where the conversation turned to how Asean and Malaysia can navigate external shocks from US-China tariff tensions. He elaborated that there is potential for the region to turn these disruptions into opportunities to position itself as a base for global manufacturers seeking stability and resilience. Malaysia, in particular, has strengthened its edge against regional peers This is supported by disciplined industrial and economic reforms, the development of high-tech hubs in Penang and Kedah, as well as special economic zones aimed at attracting strategic investments in electrical & electronics, EVs, and advanced manufacturing. Tengku Zafrul added that the current period of volatility could serve as a springboard for Malaysia to accelerate its move into higher-value sectors, with the New Industrial Master Plan 2030 (NIMP 2030) providing the long-term policy certainty, targeted incentives, and "safe harbour" measures needed to secure investor confidence. IM 2025 in Singapore is Bursa Malaysia's flagship programme in collaboration with the Macquarie Asean Conference 2025. Since its inception in 2005, Invest Malaysia has expanded its reach globally with 61 Invest Malaysia Away editions hosted in major financial centres worldwide. In 2025 alone, the series made its mark in London (January), followed by the Invest Asean-Malaysia here in June, each reinforcing Malaysia's position as a vibrant and attractive investment destination.
Barnama
4 hours ago
- Barnama
WCE Net Loss Lower At RM25.33 Mln In 1Q FY2026
BUSINESS KUALA LUMPUR, Aug 18 (Bernama) -- WCE Holdings Bhd's net loss was slightly lower at RM25.33 million in the first quarter ended June 30, 2025 (1Q FY2026), compared to a net loss of RM25.86 million in the same period a year ago. The company reported in a Bursa Malaysia filing today that its revenue jumped to RM393.85 million in 1Q FY2026 from RM75.57 million previously, driven by increased construction activity and higher toll collection following recent sectional openings. 'Revenue for construction for 1Q FY2026 increased by 710 per cent compared to 1Q FY2025, mainly due to higher construction activity in respect of the rest and service areas (RSAs) construction and remaining sections of the West Coast Expressway. 'The group achieved higher toll collection revenue for 1Q FY2026, an increase of 61 per cent compared to 1Q FY2025, mainly due to higher traffic volume after the opening of the additional sections,' it said. Meanwhile, it said subsidiary WCE Maju Sdn Bhd undertakes the group's construction activities -- revenue for construction for 1Q FY2026 increased by 230 per cent compared to 1Q FY2025, mainly due to a higher level of construction activity during the period. On prospects, it said that as at March 31, 2025, eight out of 11 sections are already operational, covering 180 kilometres (km) across Selangor and Perak. 'Notably, the entire Perak alignment (120 km) is now fully completed,' it said. According to WCE, construction for the final three sections namely, Section 3 (KESAS - Federal Highway Route 2), Section 4 (Federal Highway Route 2 - New North South Klang Straits Bypass (NNKSB) and Section 7 (Assam Jawa - Tanjong Karang) is currently ongoing. 'The group is expected to incur losses in the early years of toll operations due to the cessation of capitalisation of interest expenses for completed sections.
Barnama
5 hours ago
- Barnama
Malaysia Concludes FTA Talks With S. Korea, Signing Expected In October
BUSINESS By Nur Ashikin Abdul Aziz SINGAPORE, Aug 18 (Bernama) -- Malaysia has concluded negotiations for a free trade agreement (FTA) with South Korea and is expected to sign the agreement in October, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz. Speaking during a fireside chat session at Bursa Malaysia's Invest Malaysia event, he said the agreement reflects the country's continuous engagement with global partners to gain broader market access, particularly amid rising geopolitical uncertainties. 'To date, we have concluded 18 FTAs, both bilateral and multilateral. We've signed two this year and resumed talks with the European Union,' he said. The session was moderated by Bursa Malaysia chief executive officer Datuk Fad'l Mohamed and held as part of the Macquarie ASEAN Conference. When asked about Malaysia's engagement with BRICS, despite perceived pressure from US President Donald Trump, Tengku Zafrul said it is important for Malaysia to remain consistent in its foreign policy approach and engage all countries on equal terms. 'We are partners today. There are many other countries who are already members, and what's important is that all these countries are also members of other economic blocs. So this will continue,' he said. He also emphasised the importance of Malaysia maintaining a neutral stance. 'Malaysia can't afford to (take sides). I think ASEAN is also playing that card well where we engage all parties,' he added.
