ARB upbeat on growth opportunities with rising adoption of new tech

KUCHING: ARB Bhd (ARB) is confident to take advantage of the growth opportunities with the rising technology adoptions such as the artificial intelligence (AI), cloud computing, 5G, robotic process automation (RPA), Internet of Things (IoT) and hyper-connectivity in businesses.

In Malaysia, the government has also emphasised the development of the digital economy through connectivity, investments in domestic technology-based companies and strengthened 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.

The group’s optimism on its growth prospect is in line with its resilient earnings during the first quarter of its financial year ended September 30, 2022 (1QFY23).

ARB registered revenue of RM67.8 million and a profit after tax (PAT) of RM3.2 million in the 1QFY23, which was mainly generated from the existing CRM and IoT segments.

The financial year end of the group has been changed from December 31 to June 30. As such, there will be no comparative financial information available for the preceding year corresponding period.

“We are proud to announce that our profitable financial performances during the quarter despite the rising challenges and macro headwinds,” ARB executive director Datuk Seri Larry Liew Kok Leong said.

“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.

“The potential growth prospect for ARB 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.

“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.”

The company expects to continue delivering profitable growth and return of capital to the shareholders.

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

The potential growth prospect for ARB 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.

Datuk Seri Larry Liew Kok Leong