Pertama Digital Bhd, a technology company, expresses confidence in returning to profitability for the year ending Dec 31, 2023. The company's positive outlook is driven by its existing businesses and upcoming acquisitions. Pertama Digital has been making significant improvements over the past three years and is on track to reclassify its business from textile to technology. This strategic shift opens up new opportunities to attract business partners and interests.
Pertama Digital's group chief executive, Saify Akhtar, highlighted the company's focus on the Govtech space, aiming to become a prominent player and continuously innovate to provide solutions that address the needs of both the public and the government. With over 100 government agencies already served, Pertama Digital intends to strengthen its government partnerships and deliver effective digital solutions that benefit the public.
In pursuit of growth, Pertama Digital is actively exploring acquisition possibilities this year. The company plans to raise capital for potential acquisitions through a second tranche of capital raising. In March 2023, Pertama Digital entered into a conditional subscription agreement with Australia's Macquarie Bank Ltd, with an allocation of RM35 million to acquire businesses in the digital solutions sector out of a total investment of RM87.76 million.
Despite facing a net loss of RM1.77 million in the first quarter of FY23, compared to a net profit of RM5.08 million the previous year, Pertama Digital remains determined. The company's quarterly revenue decreased by 73.6% to RM1.35 million. Pertama Digital's services include e-Jamin, mySMS, MyPay Coin Conversion, MyPay Mobile, and May Pay Payment Gateway.
Founded in 1984, Pertama Digital, previously known as Sinotop Holdings Bhd, has undergone a reverse takeover by the Be Top Group Ltd of China. With its strategic plans and focus on technology-driven solutions, Pertama Digital aims to regain profitability and strengthen its position in the digital solutions sector.