PETALING JAYA: Vstecs Bhd expects the increasing investment and demand for data centres to benefit Malaysia’s economy and its enterprise business.

In a filing with Bursa Malaysia, the information and communications technology distributor noted that over the past few weeks, there had been a notable rise in inquiries for infrastructure equipment with artificial intelligence for data centres.

“Our cloud services and subscription base have seen consistent growth in recent quarters. We are excited about the upcoming launch of the hyper-scalers’ data centres in the coming months, which we believe will further accelerate cloud adoption in Malaysia.”

In the second quarter ended June 30, 2024, the company’s net profit was flat at RM15.25mil compared with RM15.65mil in the previous corresponding period.Revenue was higher at RM624.39mil, compared with RM608.79mil a year earlier.

Basic earnings per share stood at 4.30 sen against 4.40 sen, previously.

For the six-months period ended June 30, 2024, VSTECS’ net profit dipped to RM29.57mil from RM30.50mil in the previous corresponding period, while revenue stood at RM1.24bil against RM1.27bil previously.

Source from https://www.thestar.com.my