KUALA LUMPUR (June 26): VSTECS Bhd, through its wholly owned subsidiary VSTECS ASTAR Sdn Bhd, has signed an agreement with Qualcomm Technologies Inc to distribute Qualcomm's "Windows on Snapdragon" laptops and tablets in Malaysia.

The information and communications technology (ICT) services provider said it will leverage its network of 4,600 channel partners across the country to provide vast accessibility, and drive the successful distribution and marketing of the products.

"The next-generation end-point devices from Qualcomm, powered by the Snapdragon® compute platform, will revolutionise mobile computing by delivering exceptional performance, extended battery life, cutting-edge camera and audio capabilities, and highly secure, reliable connectivity.

"These devices cater to a diverse range of users, meeting the demands of busy professionals seeking seamless productivity and individuals who want immersive experiences and reliable connectivity," the group said in a statement on Monday (June 26).

VSTECS chief executive officer JH Soong added: "We are thrilled to be appointed as the distributor by Qualcomm. This collaboration further strengthens our commitment to delivering top-notch ICT solutions to our customers.

"Qualcomm's laptops and tablets are set to transform the future of mobile computing with their exceptional performance and advanced features. We look forward to working closely with Qualcomm to bring these game-changing devices to the Malaysian market, and empower our customers with the latest technological innovations.”

VSTECS had in April announced an agreement with Huawei Technologies (Malaysia) Sdn Bhd to distribute Huawei's digital data centre facility products and services.

For the first quarter ended March 31, 2023 (1QFY2023), VSTECS's net profit increased 24.95% to RM14.85 million, from RM11.88 million a year ago, mainly due to higher profit margin contributions from its enterprise systems and ICT services segments. Earnings per share rose to 4.2 sen from 3.3 sen.

Quarterly revenue grew 3.25% to RM664.74 million from RM643.76 million in 1QFY2022.

VSTECS shares closed one sen or 0.74% higher at RM1.37 on Monday, giving the group a market value of RM493.2 million. Year to date, the counter has risen 16.1% from RM1.18 on Jan 3.