Kronologi Asia 3Q18 net profit rose almost two-fold

by TMR

Kronologi Asia Bhd’s net profit for the third quarter ended Sept 30, 2018 (3Q18) surged almost 100% year-on-year (YoY) to RM5 million on higher revenue which rose 49.4% YoY to RM41.98 million on the back of higher volume sales recorded in Singapore and contribution from Quantum Storage (Hong Kong) Ltd which was acquired in December 2017.

In an exchange filing yesterday, Kronologi Asia noted Asean countries (including Singapore) recorded higher revenue of RM79.153 million compared to RM75.382 million made in the preceding equivalent financial period.

Revenue from Singapore amounted to RM73.864 million or 60.96% of total while Hong Kong and Taiwan accounted for RM24.505 million or 20.22%. By product category, the Enterprise Data Management (EDM) Infrastructure Technology segment continued to dominate the group’s revenue, accounting for RM113.648 million or 93.79% of total revenue, with EDM Managed Services making up the balance, its exchange filing revealed.