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Quarterly Report For The Financial Period Ended 31 December 2017

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Unaudited Condensed Consolidated Statement Of Comprehensive Income
For The Year Ended 31 December 2017

Unaudited Condensed Consolidated Income Statement

Income Statement
Condensed Consolidated Statement Of Financial Position
For The Year Ended 31 December 2017
Financial Position
Review Of Performance

The Group recorded a loss of RM15,435,000 for the period ended 31 December 2017. A decrease by RM23,318,000 from a profit of RM7,883,000 for the period ended 31 December 2016.

The decline in the results was attributed to the conclusion of a major contract from the IT segment that significantly reduced the overall profit margin of the Group. The contract has contributed significant margins to the Group since its acquisition in the previous financial years.

Furthermore, the Group has impaired RM9,200,000 and amortised RM1,543,000 of its intangible assets in its subsidiaries.

IT related products and services

The revenue for the financial period ended 31 December 2017 is RM321,984,000 as compared to RM313,991,000 for the financial period ended 31 December 2016.

Review Performance
  • Defence Simulation and Training and IT related solution for defence and security.
  • Transport IT Systems covering multi-sectoral (road, rail, air and water).
  • Homeland Security IT related solution for homeland security.
  • International IT relates solution for international business in Middle East.
  • Health System integration and product development of healthcare related business.
  • Education
  • Managed Services ICT infrastructure solutions.
  • Financial Services Core banking, takaful, insurance and credit management solutions.
  • Automotive Database build for industry reference (Malaysia) and software (Australia).
  • Mobile value added services.

Bulk mailing outsourcing services

Review Performance

The segment is contributed by the Group's subsidiaries in Malaysia and Indonesia.

The revenue for the financial period ended 31 December 2017 is RM24,140,000 as compared to RM27,924,000 for the financial period ended 31 December 2016.

Engineering works

Review Performance

The Group's subsidiary under the engineering works sector is principally engaged in the provision of electrical, mechanical and civil engineering works for the energy supply company.

The revenue for the financial period ended 31 December 2017 is RM80,725,000 as compared to RM20,673,000 for the financial period ended 31 December 2016.

Commentary On Prospects

Malaysia's economic growth had become more entrenched while prospects remained favourable for 2018, given expectations of sustained performance in both the domestic and external sectors. Nevertheless, downside risks to the global growth remained. Headline inflation was expected to be at the upper end of the forecast range of 3% - 4% for 2017 but to moderate in 2018. Underlying inflation was also expected to moderate in 2018, sustained by robust domestic demand but contained by the continued expansion in productive capacity. (Source : Bank Negara Malaysia published on 14 February 2018)

The Group's business environment is expected to remain challenging for 2018. However, the Group will continue to implement relevant strategies to overcome the challenges. These include the following:

IT related products and services

  • Securing recurring business from existing customers while gaining new business from both existing and new customers.
  • Continuously exploring new opportunities in the Middle East and ASEAN.

Bulk mailing outsourcing services

  • Promoting value-added services to existing customer base from public and private sector.