Privasia optimistic of demand for in-house solutions ProcureHere

PETALING JAYA: Information Technology (IT) outsourcing and consulting provider, Privasia Technology Bhd (Privasia), remains optimistic of the adoption of its in-house-developed ProcureHere from potential suppliers and customers.

ProcureHere is a recentlylaunched cloud-based procurement platform that facilitates efficient and seamless processes for procurement; offering users tangible cost savings through access to a wide network of suppliers for various items.

In a press statement, Privasia chief executive officer and managing director Puvanesan Subenthiran, said: “We intend to drive sales in our key segments, starting with our Intellectual Property products in the IT segment that give us a distinct advantage.

“We also aim to keep collaborating with telcos and key principals to provide our expansion and optimisation services, to reinforce our reputation in the sector.

“We have also streamlined our Satellite Services (SAT) segment in order to improve efficiency in cost management, and aim to increase revenue as the Group intends to accelerate customer- and site acquisition initiatives.”

Meanwhile, for the first quarter ended March 31, 2018 (1Q18), Privasia reported that it has recorded revenue of RM11.8 million, versus RM15.4 million in the quarter ended March 31, 2017 (1Q17).

It said, its IT segment revenue grew 2.6 per cent to RM8.6 million, compared to RM8.3 million previously, as a result of higher sales from delivery of outsourcing projects.

It also noted that the Information Communication Technology (ICT) segment recorded decreased billings of RM2.5 million, versus RM5.8 million in the previous corresponding quarter, as the group focused its efforts on the successful delivery of a telecommunication engineering project, before undertaking new and similar businesses. The segment profit also dropped in line with revenue.

The SAT division also posted lower segment revenue in line with the Group’s realignment of strategy in streamlining customer portfolio. Despite the lower revenue, better cost management led to lower losses for the segment.

This has led Privasia to post narrower losses to RM1.6 million in 1Q18, compared to RM2.1 million in 1Q17.