Bursa Alert
Global Market
NewsDigistar aims for turnaround by end of 2016
Page 1 of 1
Digistar aims for turnaround by end of 2016
by Cals Fri 27 Mar 2015, 01:29
Digistar aims for turnaround by end of 2016
By Yen Ne Foo / theedgemarkets.com | March 26, 2015 : 12:41 PM MYT
KUALA LUMPUR (Mar 26): Loss making information and communications technology firm, [size=14]Digistar Corporation Bhd (Digistar) ([You must be registered and logged in to see this image.] Financial Dashboard), is expecting to turnaround its business by the end of 2016.
The company's managing director Datuk Wira Lee Wah Chong said, "We were in net loss position in the last financial year (ended Sep 30, 2014) because we have to pay interests for bonds we issued two years ago."
He added that Digistar was obligated to pay RM14 to RM16 million in interest for the debt papers, offsetting any profit which the company makes from its operations.
Despite that, Lee is optimistic that Digistar's fortunes would change next year.
He said that the construction of the Malaysian National Technology Advancement Centre (MTAC) in Alor Malacca, for which the bonds were issued, will be completed in mid-2016.
He said, "We have a 15-year concession from the government to provide asset management services for the MTAC once the construction is completed. This means that we will get a stable recurring income."
He added that the company is continuing to expand its central monitoring system division with the acquisition of three security services companies to set up three new command centres.
[/size]
By Yen Ne Foo / theedgemarkets.com | March 26, 2015 : 12:41 PM MYT
KUALA LUMPUR (Mar 26): Loss making information and communications technology firm, [size=14]Digistar Corporation Bhd (Digistar) ([You must be registered and logged in to see this image.] Financial Dashboard), is expecting to turnaround its business by the end of 2016.
The company's managing director Datuk Wira Lee Wah Chong said, "We were in net loss position in the last financial year (ended Sep 30, 2014) because we have to pay interests for bonds we issued two years ago."
He added that Digistar was obligated to pay RM14 to RM16 million in interest for the debt papers, offsetting any profit which the company makes from its operations.
Despite that, Lee is optimistic that Digistar's fortunes would change next year.
He said that the construction of the Malaysian National Technology Advancement Centre (MTAC) in Alor Malacca, for which the bonds were issued, will be completed in mid-2016.
He said, "We have a 15-year concession from the government to provide asset management services for the MTAC once the construction is completed. This means that we will get a stable recurring income."
He added that the company is continuing to expand its central monitoring system division with the acquisition of three security services companies to set up three new command centres.
[/size]
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Budget 2016 Revision Malaysia's 2016 GDP growth seen at 4.5%
» Budget 2016 Budget 2016 neutral on ringgit, says StanChart Research
» Digistar on M&A trail
» MAS turnaround possible, RHB Research keeps Buy at RM1 FV
» Digistar in talks to buy ICT firm
» Budget 2016 Budget 2016 neutral on ringgit, says StanChart Research
» Digistar on M&A trail
» MAS turnaround possible, RHB Research keeps Buy at RM1 FV
» Digistar in talks to buy ICT firm
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|