KUALA LUMPUR (April 25): HeiTech Padu Bhd targets stronger earnings growth after returning to profitability for the financial year ending Dec 31, 2023 (FY2023), amid greater competition.

Moving forward, the company said it plans to become a fully digital technology service provider, leveraging emerging technologies, broadening its operational capabilities, expanding its customer base, diversifying its business, and propelling HeiTech Padu into a better financial position.

Group managing director and group chief executive officer Salmi Nadia Mohd Hilmey said the company's recent success demonstrates its commitment to providing value-added solutions and services to its customers, targeting stronger earnings growth.

“HeiTech (Padu) has evolved from being a system integrator and managed infrastructure provider to being a provider of digital and emerging products.

“HeiTech (Padu) has expanded our offerings and market areas via the creation of in-house products and offerings that fit transactional-base and mass market, which includes smart parking systems, e-know your customers (e-KYC), payment gateways, as well as smart applications for local councils, cooperatives, school management solutions and teaching portals,” she said in a statement on Thursday.

HeiTech Padu reported RM7.2 million in profit for FY2023, compared to the RM10 million loss in FY2022.

Its earnings before interest, impairment, taxation, depreciation and amortisation (Ebitda) for FY2023 was RM28.2 million.