27 Nov 2006, The Star
PETALING JAYA: Mobile service provider, AKN Messaging Technologies (AKN Mtech) expects it overseas operations will be the company's major revenue growth driver for financial year ending June 30, 2007, said managing director Lim Soon Beng.
For financial year ended June 30, the company's net profit plunged 91% to RM1.5mil from RM16.6mil recorded last financial year.
Revenue was RM30.8mil, down 27.2% from RM42.3mil earlier.
"We will be concentrating on our overseas operations, as well as designing additional products and services to soften the impact, as well as to improve group revenue this fiscal year," he told reporters after AKN Mtech AGM on Monday.
Lim said that the company expects it's overseas operations to contribute 70% to total group revenue for financial year ending June 30, 2008.
"To date, both of our domestic and overseas business contributed equally to our group revenue. We are keen to gain a stronger foothold overseas by designing more innovative products and services to widen our overseas market reach," he said.
AKN Mtech has made its presence in Hong Kong, Thailand, Pakistan, China, Singapore and Indonesia with sales contribution of RM8.2mil to group revenue last fiscal year. The company also hoped to secure a partnership contract with search engine Yahoo! as it's mobile service provider in Thailand by year-end.