DAPAT to drive growth for Pertama Digital
Its director of strategy Saify Akhtar said DAPAT increased its revenue by 43% year-on-year in the first half of 2021.
He said DAPAT’s consistent growth has been achieved over the last six quarters despite reduced operational activity in public sector services impacted by Covid-19 pandemic restrictions.
“This stellar performance is credited to the dedicated and highly capable management team leading this Pertama Digital portfolio company and it poised to further accelerate this growth rate as we all prepare for a new post-pandemic reality.
“The group will bring to market digital solutions in partnership with some of the companies featured in recent announcements,” Saify told The Malaysian Reserve.
DAPAT owns and operates the government’s SMS portal, mySMS, mobile payments app, MyPay, and eJamin, a smartphone court bail payment solution now available in courts across the country.
On July 23, Pertama Digital raised its stake in DAPAT by exercising a contractual option to buy an additional 24% stake in the software company for RM5.9 million to take its total stake to 80%, with Heitech Padu Bhd holding the remaining 20%.
Saify added that Malaysia’s post-pandemic reality will centre around individual and communal capacities across the private and public sectors as they take an active role in making things better together.
“Pertama Digital is thus championing a new model of government digitalisation that reduces financial burden on the public purse tremendously while being better at achieving set objectives at the same time.
“This is the way for the group to contribute to the public sector operating more efficiently,” he said. Saify added that this could help free up resources in the public sector that could then be reallocated by public agencies to address other priorities.
“We have already successfully implemented this model. Such services under the traditional model would have cost tens of millions of ringgit and would have taken much longer to achieve the results we have delivered.
“We are registering strong inter- est from hundreds of agencies across the country at both federal and state levels,” he stated.
The next stage of the Pertama Digital collaborative strategy is to bring together a range of partners to build desirable solutions for the rakyat, said Saify.
The group has done this very successfully for its proposed digital banking business, with a partner list that includes Experian and a range of great innovative tech companies from across the region.
“Together, our digital banking proposition is squarely targeted at those most vulnerable households that need guidance and resources to create sustainable incomes for themselves and doesn’t require them to ride a motorcycle for 12 hours a day, seven days a week.
“This is one example of how Pertama Digital is investing resources to contribute to Malaysia’s social recovery,” he added
For its fourth quarter ended June 30, Pertama Digital posted a net profit of RM940,000 or 0.22 sen earnings per share (EPS) versus a net loss of RM4 million in the same period a year ago, its recent exchange filing revealed.
Revenue for the quarter amounted to RM572,000 as the restructured group discontinued some operations.
The group’s mobile and digital solutions segment accounted for RM470,000 of the revenue in the period compared to RM9,000 in the preceding year’s corresponding quarter.
The mobile and digital solutions businesses registered a profit after taxation of RM1.34 million in financial year 2021, the company’s filing noted.
On a full financial year basis, the company made a net profit of RM6.2 million or EPS (diluted) of 1.43 sen on the back of RM952,000 in revenue.