Kuala Lumpur 30th June 2020 – Technology solutions provider OMESTI Berhad [9008] has announced its results [unaudited] for the financial year ended 31 March 2020 to deliver a profit of RM29.03 million. These results return the Group to positive territory for the first time in several years.

OMESTI Berhad Executive Director Gerard Monteiro said, “Over the last 12 months, the Group has worked to deliver improvements to the balance sheet which have been derived, among others, from greater cost efficiencies. A number of significant milestones have been achieved during the year which have culminated in the Group returning this positive year end performance.”

At the beginning of the calendar year, OMESTI was confirmed as Authorised System Integration Partner by Huawei Technologies, and has also been authorised as a Reseller of Huawei software, giving access to the technology giant’s extensive portfolio of cloud and IoT solutions. This was a major contributory factor to the Group being awarded the RM95.59 million project for implementation of a new Business Support Systems [BSS] platform for Telekom Malaysia Berhad [TM].

The new platform will deploy Huawei Technologies’ BSS technology for the roll-out of a state-of-the-art integrated Customer Relationship Management [CRM] and Billing Systems architecture.

More recently, in line with the strategy to increase its footprint in the credit reporting space, the Group’s joint investment in CRIF OMESTI secured a credit reporting agency (CRA) licence from the Ministry of Finance Malaysia. The operation will provide credit reports and business information services for financial institutions, corporations, and SMEs.

“We are confident that the Group is now on the right track to deliver continued positive performance in the coming years as we pursue our strategy of leveraging our innovation expertise to work with our clients and expedite their digital transformation journey,” added Mr Monteiro. “The requirement for businesses to transform digitally and automate their operations is even more acute in the post-pandemic environment. This trend applies across all sectors of our business portfolio including judiciary, financial institutions, logistics, telecommunications and utilities. As such, we will continue to seek out opportunities where our skillsets can best support our clients and ultimately deliver good returns to our shareholders.”

To view the results please click here