ANNUAL REPORT 2024 33 APPRECIATION In closing, I would like to extend my heartfelt thanks to the outstanding team at Datasonic for their exceptional display of grit, adaptability and competency. Thanks to all your efforts, we successfully created history once again with our record-breaking performance in FY2024. And to do so at a time that was filled with various challenges was definitely not an easy feat. To our valued stakeholders, particularly our clients, shareholders, business partners, bankers and suppliers, my deep appreciation for your support, which have been instrumental towards our success and we look to continue strengthening these relationships. Now, I would like to welcome Encik Ahmad Ridwan Bin Abdullah and Madam Michelle Yong Voon Sze, who joined the Board as Independent Non-Executive Directors. Their extensive experience and expertise in their respective fields have certainly enhanced the diversity and strength of the Board. On the same note, I would like to acknowledge the contributions by Dato’ Wan Mohd Safiain Bin Wan Hasan, Dato’ Wan Ibrahim Bin Wan Ahmad, Mr. Yee Kim Shing @ Yew Kim Sing and Dato’ Safian Bin Mohd Yunus, who relinquished their roles from the Board. Additionally, my sincere recognition also goes to Tan Sri Dato' Seri Dr Khalid Bin Abu Bakar, Tan Sri Borhan Bin Dolah, Tan Sri Ahmad Zaki Ansore Bin Mohd Yusof, Dato' Roseleen Binti Buyong, and Datin Normaliza Binti Kairon, who retired from the Board for their immense effort and invaluable advise to the Group. Separately, my profound gratitude to the founder, Deputy Executive Chairman and Chief Executive Officer of Datasonic, Datuk Haji Abu Hanifah Bin Noordin, who has retired from the Board to focus on charitable activities. His visionary stewardship culminated in the Group's listing on the Main Market of Bursa Malaysia Securities Berhad. Datuk Hanifah’s leadership and passion shaped Datasonic’s success, which were instrumental in helping the Group grow to where it is today. His presence and legacy will always be felt at Datasonic. At the same time, I would like to take this opportunity to express my gratefulness to everyone at Datasonic for welcoming me as your new Executive Chairman. To my fellow Board members, your collective wisdom, insightful counsel and guidance have been essential in Datasonic’s success. It has truly been a pleasure to work alongside each of you and I hope we will continue this successful collaboration to bring the Group towards new horizons. YM TENGKU DATO' SERI ABU BAKAR AHMAD BIN TENGKU TAN SRI ABDULLAH Executive Chairman OUR CHAIRMAN SPEECH FROM FORGING AHEAD Market uncertainties are expected to persist in 2024. IMF forecasts 2024 GDP growth to be at 3.2%, similar to the expansion achieved in 2023. This is largely driven by elevated central bank policy rates to fight inflation, a withdrawal of fiscal support amid high debt weighing on economic activity and low underlying productivity growth. On the home front, the Ministry of Finance (“MoF”) estimated the 2024 GDP to be between 4.0% to 5.0% versus 3.7% in 2023. This is supported by resilient domestic expenditure and a recovery in exports. For us at Datasonic, we remain laser focused on the delivery of all our projects and delivering exceptional quality to our clients. With sustained healthy demand for passports, MyKad and i-Kad, we are highly committed to meet this demand with timely and uninterrupted delivery, fulfilling our integral role in national security. At the same time, we continue to pursue new programmes and initiatives locally and globally, in line with our strategic goal of diversifying revenue streams. Meanwhile, our commitment to continually invest in research and development (“R&D”) remain steadfast. Our unwavering investment in R&D has positioned us at the forefront of technology in security-related ICT solutions. With a talented in-house team of over 100 R&D and technical experts, we proudly develop the majority of our cutting-edge systems and solutions. Datasonic has been continuously enhancing and upgrading the security features of our national security documents to ultimately delivering exceptional products and services to our clients and to further increase the level of our national security. The Group will continue to leverage on our expertise, capabilities and track record to play a key role in Malaysia’s national security, digitalisation journey as well as in the cybersecurity space. The Group has built a strong foundation and resilience in the past few years and delivered successive record performance. However, we are not resting on our laurels as the road ahead is what excites us the most. The prospects for Datasonic continue to be promising underpinned by our strategic initiatives and business expansion plan, both locally and globally. The Group is forging ahead to ride on this positive momentum to bring Datasonic to the next level.
RkJQdWJsaXNoZXIy NDgzMzc=