REDtone International Bhd is optimistic of posting profit in current financial year ending April 30, 2018 (FY18) mainly on growth in the telecommunication entity’s data services.
REDtone, which is a 51.67% subsidiary of Berjaya Corp Bhd, undertakes its data operations under its telecommunication services division while its managed telecommunications network services (MTNS) division undertakes Internet-based projects for corporate clients.
REDtone group chief executive officer Lau Bik Soon said: “I’m positive that we should continue to keep the momentum for the quarters moving forward. [This] will be driven by a combination of mainly the telecommunication services and MTNS.”
“Data services is still experiencing healthy growth,” Lau told reporters after REDtone’s annual general meeting here today.
At Bursa Malaysia, REDtone shares settled unchanged at 41.5 sen at 12:30pm for a market capitalisation of RM310.7 million. The Sultan of Johor Sultan Ibrahim Sultan Iskandar owns a 17.9% stake in REDtone.
Source: The Edge