03 OUR PERSPECTIVE DATASONIC GROUP BERHAD 40 PROSPECTS FOR FY2025 The strong set of record performance achieved in FY2024 set us up nicely for an even more exciting FY2025. Timely and quality delivery of all our projects remain paramount to us at Datasonic. For the i-Kad project, the delivery is anticipated to continue picking up as we will be supporting for card renewals in addition to new card applications and issuance. Additionally, the digital i-Kad app is up and running smoothly. The overall i-Kad project is presenting us with vast opportunities within foreign workers domain, which will enable us to further enhance and widen our solutions and services offerings. Meanwhile, the Group is pleased to share that in June 2024, we secured the extension contracts for the supply of Malaysian passport solutions comprising passport chips, passport documents and polycarbonate biodata pages with a value of RM142.3 million. Apart from that, we also clinched the contract extension for MyKad solutions worth RM27.8 million along with the RM11.6 million contract for comprehensive maintenance services of card personalisation centres. This brings the total contract value secured to RM181.7 million, which boosted our order book and providing healthy earnings visibility. These wins are also testament to our established track record and technical expertise. With the sustained high demand for secure identification and passports, our utmost priority is to deliver exceptional quality products and services at a timely manner. Simultaneously, we are looking to deploy more of our innovative state-of-the-art autogate solutions which are equipped with patented multimodal facial recognition system for our clients with our continued commitment, delivery and performance. Malaysia continues to undergo a rapid digital transformation driven by the Government’s Malaysia Digital Economy Blueprint (“MyDIGITAL”). This comprehensive roadmap aims to leverage technology across various sectors, including government services and the information technology (“IT”) realm. This digital transformation brings both opportunities and challenges. Cybersecurity measures need to be constantly fortified to protect sensitive data and critical infrastructure. In an effort to bolster national cybersecurity, Malaysia recently passed the Cybersecurity Bill 2024. This comprehensive legislation seeks to improve the country's resilience against cyber threats and safeguard our national essential infrastructure. What excites us is the potential that we can see and capitalise within the digital transformation and cybersecurity space. The Group is actively seeking ways to make the most of these possibilities to broaden and diversify our revenue and earnings base. Our strong technical expertise, proven credibility and recent recognition as ‘Cyber Security Company of the Year’ place us strategically to seize these exciting opportunities. Separately, we are actively seeking out new programmes and initiatives, both within Malaysia and across international markets in-line with our strategic goal of diversifying revenue streams. On that note, Datasonic is delighted to announced that we had in May 2024, secured our first overseas e-passport project in a West African country. This would certainly enhance our revenue base and opens more opportunities to penetrate into other countries around the globe. At the same time, the Group is also mindful of the ongoing challenges arising from the global market uncertainties. Datasonic continues to undertake a prudent approach as we navigate through the challenges while executing our strategic plans. All in all, we remain upbeat on the bright outlook and look forward to scaling new peaks for the Group. AND ANALYSIS MANAGEMENT DISCUSSION
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