02/09/2025

BIZ & FINANCE TUESDAY | SEP 2, 2025

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TechStore delivers strong quarterly, half-year results

NexG secures six-year contract to supply M’sian passports

PETALING JAYA: Enterprise IT services provider TechStore Bhd’s revenue for its second quarter (Q2’25) ended June 30, 2025 increased 48% to RM20.8 million from RM14 million in the preceding quarter (Q1’25). This was primarily driven by higher contributions from the design and imple mentation services segment due to progressive completion of the LRT3 automatic fare collection project. Group profit after tax (PAT) surged 163.8% q-o-q to RM2.7 million in Q2’25 from RM1 million in the previous quarter in tandem with higher revenue and increased financial income, as well as absence of one-off listing expenses of RM900,000 recorded in Q1’25. For the six months ended June 30, 2025 (H1’25), TechStore delivered revenue of RM34.8 million, with the maintenance and support services segment contributing about 72.3%. This was mainly derived from supplying hardware, software and provision of professional services and preventive maintenance for the Intelligence Super visory Control and Data Acquisition System, supplying of Internet of Things modules and o Bright outlook backed by order book of RM119 million and tender book of RM1.7 billion

expander modules, and supplying of cameras and network video recorders. Meanwhile, the design and imple mentation services segment accounted for the balance 27.7% of turnover. PAT for H1’25 stood at RM3.8 million, which included one-off listing expenses of RM900,000. Excluding the non-recurring listing expenses, the group would have recorded PAT of RM4.7 million for the cumulative financial period. However, there are no comparative figures for preceding corresponding quarter and year-to-date results as this is the third interim financial report being announced in compliance with the ACE Market Listing Requirements of Bursa Malaysia Securities. TechStore managing director Tan Hock Lim ( pic ) said, “We are pleased to deliver another set of positive results following our listing and remain committed to executing our ongoing projects, supported by a healthy order book of RM119 million as at June 30, 2025. “Building on this momentum, we subsequently secured a RM7.7 million job on July 28, 2025 from Customs Department for the provision of leasing and training services for four units of baggage scanner machines and two units of body scanner machines with accessories at the Woodlands North Customs, Immigration and Quarantine in Singapore, which further expands our role in the Johor Bahru-Singapore RTS Link.” At the same time, he added, TechStore is

PETALING JAYA: NexG Bhd subsidiary Datasonic Technologies Sdn Bhd recently received and accepted a letter of award from the Ministry of Home Affairs for a six-year contract to supply Malaysian international passports, with a ceiling value of RM1.728 billion premised on an estimated production of three million units per year. The contract is structured on a pay per-use basis, with a ceiling contract value dependent on actual passport issuance volumes. This procurement model ensures that the government only pays for the number of passports required, without any upfront invest ment or capital expenditure. In addition to passports, it will support the group’s expansion into adjacent secure identification and digital solutions, while also reinforcing its position in new market expansion and business ventures such as digital identity, credit profiling, and govern ment project enablement under NexG’s broader strategic pillars. To support this growth, NexG is committing an estimated RM250 million to develop a new high-security facility, incorporating environmental, gover nance and social-aligned sustainability practices to enhance capacity, resi lience, and environmental respon sibility. This long-term mandate will also create high-skilled job opportunities and further strengthen Malaysia’s local technology ecosystem. Executive chairman and group CEO Datuk Hanifah Noordin said: “We are honoured by the continued trust placed in NexG by the government of Malaysia. This long-term mandate underscores our commitment to deli vering secure, reliable, and world-class passport solutions. “Beyond meeting today’s needs, it positions NexG to support the country’s aspirations in security, digitalisation and international mobility.”

pursuing larger and more complex tran sport projects, particularly in Johor and Penang. As at June 30, 2025, the group’s tender book stood at RM1.7 billion, underscoring a robust project pipeline driven by rising demand for integrated and localised IT solutions across both public and private sectors, Tan said.

PNB committed to prioritising interests of unitholders and rakyat KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has reaffirmed its commitment not to pursue asset divestment if it risks jeopardising the long-term benefits of its unitholders or adversely affects its efforts to contribute to the well-being of the rakyat and country’s development. “The prime minister’s guiding principles will be adhered to as PNB finalises and concludes the strategic options review exercise. The guidance is also consistent with PNB’s investment framework, which cerning the strategic review of its investment in Prolintas. He stressed that, as an institution entrusted with safeguarding national and Bumiputera interests, PNB must maintain its role and holdings in the country’s strategic assets.

prioritises the interests of unitholders, the rakyat , as well as the national and Bumiputera agendas when evaluating investment in strategic assets, in line with our given mandate,” the statement said. On Saturday, Anwar urged PNB to place national and Bumiputera interests at the forefront when making any decisions con

Anwar, who is also the finance minister, said the review should not proceed if it compromises the long-term benefits of unitholders or undermines PNB’s contribution to the welfare of the people and national development. – Bernama

In a statement, PNB said it welcomes and appreciates the advice and guidance of Prime Minister Datuk Seri Anwar Ibrahim regarding the review of PNB’s strategic investment options in Projek Lintasan Kota Holdings Sdn Bhd (Prolintas).

CAB Cakaran’s third-quarter net profit surges to RM28.8 million PETALING JAYA: CAB Cakaran Corporation Bhd reported a 71.5% surge in net profit to RM28.8 million for the third quarter ended June 30, 2025 (Q3’25), delivering its seventh consecutive quarter of net profits without government subsidies and demonstrating the strong operating efficiency of its integrated poultry business. Earnings per share for Q3’25 was 3.24 sen, up from 1.75 sen a year ago. RM225.77 million from RM200.25 million a year ago. Group managing director Christopher Chuah Hoon Phong ( pic ) said: “We are pleased to deliver another strong set of results in Q3 FY2025. Notably, this marks our seventh consecutive “While broiler selling prices have temporarily declined, demand for poultry in Malaysia remains resilient and we anti cipate a rebound in the near term. We will continue to proactively implement strategies that support sustainable growth and long-term value creation for

our stakeholders.” On July 31, 2025, CAB announced the acquisition of commercial animal feed manufacturer Cargill Feed Sdn Bhd for RM231 million in cash, unlocking a reliable, cost effective supply of animal feed and supporting the group’s long-term growth strategy by venturing into the animal feed business. In the fiscal year ended May 31, 2024, Cargill Feed delivered an unaudited net profit of RM13.78 million on the back of revenue of RM390.96 million. In FY24 and FY23, Cargill Feed delivered net profits of RM15.59 million and RM17.34 million, respectively.

profitable quarter since the discontinuation of government subsidies. Our sustained growth, especially on an operating level, demonstrates that we are efficient and can thrive without subsidies.” He added that the group is on track to complete its acquisition of Cargill Feed by the fourth quarter of this year, which will allow them to fully consolidate its earnings from next year onwards. As CAB enters its final quarter of FY25, Chuah said, it remains optimistic that its integrated model and operating efficiency will sustain the group’s growth.

The integrated poultry division’s overall operating profit increased by 20.39% to RM44.96 million in Q3’25, largely due to an 11% year-on year reduction in feed costs. This helped mitigate a 1.7% dip in the division’s revenue, which was due to a decline in both average selling price and sales volume. The average selling price and sales volume of broilers fell 4.33% and 2.82% year-on-year, respectively. For the first nine months of FY2025 (9M’25), CAB’s net profit declined 3.41% to RM83.66 million, while revenue rose 1.84% to RM1.74 billion. The group’s cash position rose 12.7% to