KUALA LUMPUR: HeiTech Padu Bhd's (HPB) net profit grew 111 per cent to RM13.1 million financial year ended December 31 2020 (FY20), from RM6.2 million last year.
This was mainly attributed by the company's success in securing new contracts and initiatives despite the many challenges faced from competitors, economic uncertainty and restricted movement orders during the period of lockdowns.
Revenue dipped slightly to RM325.4 million from RM360.8 million in the previous year while earnings before interest, impairment, taxation, depreciation and amortisation (EBIITDA) in 2020 was RM38.5 million, as opposed to RM39.9 million in 2019,reflecting the tough period the company had to sustain in for the year.
HPB executive deputy chairman and president Datuk Sri Mohd Hilmey Mohd Taib said the company managed to deliver contractual obligations, maintain and fulfil all service level agreement with customers during these trying times.
"HPB has successfully navigate pass the year with the perseverance and dedication of its employees who have able to steer the company safely out of 2020," Mohd Hilmey said in a statement today.
Among the major projects secured by HPB in 2020 include the mainframe upgrading and application maintenance contract for National Registration Department (NRD), wide area network contract renewal connecting Tesco Malaysia headquarters to Tesco disaster recovery centre in Thailand, which is the first international link implementation for commercial sector.
The company had also secured the extension of maintenance contracts from Road Transport Department (RTD) and Immigration Department of Malaysia (IDM).
Further, HPB also successfully commissioned the latest IBM's z15 mainframe for NRD and RTD, the first z15 mainframe implementation in Malaysia.
During the same year, HPB had also launched the ezBill and eLIS, the company's newly developed products that help local authorities to transform and digitalise their management and service delivery to customers.
The regional presence was also strengthened through the establishment of PT DesaTech Nusantara to provide financial system for cooperatives in Indonesia.
Moving forward in year 2021 and beyond, Mohd Helmi said HPB has aligned its strategic direction to respond more effectively to market changes, risks, threats and opportunities.
"We will expand our offerings and tune up our portfolios both from contracting and transactional based businesses and have chartered the strategic direction through our three core segments.
"These cores were given specific targets based on their respective strength, core offerings and market presence. It also allows us to be more focus on our go-to-market strategies and optimise the use of our existing resources," he said.