PETALING JAYA (Feb 3): GDEX Bhd (KL:GDEX) said it is considering potential acquisitions to expand its technology services segment that has emerged as a key growth driver for the loss-making company.
The company is exploring acquiring complementary technology firms offering services that it does not currently sell, managing director and group chief executive officer Teong Teck Lean told reporters at a company event on Tuesday. However, no target has been identified so far, he said.
“We do not see our technology services as fully comprehensive yet,” Teong said.
The company’s technology services segment, which it entered in 2024 after receiving approval to diversify into information technology, contributed close to 20% of group revenue in the financial year ended Dec 31, 2025. Most of the revenue however still comes from the mainstay logistics and courier services.
The shift in focus comes at a time when the carrier industry saw intense competition due to the entry of foreign logistics start-ups such as Lalamove from Hong Kong, Singapore-based Ninja Van and Indonesia’s J&T Express that have sparked a fierce price war in the delivery industry.
Teong said that the growing contribution from technology services is now expected to play a key role in helping the group recover from three consecutive years of losses, as the segment offers higher margins and recurring income potential.
He was speaking to reporters following the launch of the GD XCHANGE Experience Centre, a space designed to allow businesses to experience hands-on demonstrations of integrated logistics and technology solutions. GD XCHANGE is GDEX’s technology arm.
The launch was officiated by Minister of Investment, Trade and Industry Datuk Seri Johari Abdul Ghani, in the presence of GDEX chairman Tan Sri Muhammad Ibrahim.
At midday on Tuesday, GDEX shares were half a sen or 3.7% higher at 14 sen, valuing the group at RM789.8 million. The stock is up 7.7% year to date.