Palette Multimedia Bhd chairman Eg Kah Yee giving Acquisition of new company with earnings
KUALA LUMPUR: Palette Multimedia Bhd will aggressively push its products into the Russian market and outline strategies to penetrate that of the Association of South-East Asian Nations (Asean) in the financial year ending May 31, 2018 (FY18).
Chairman/managing director Eg Kah Yee said currently, Russia contributed 90% of its revenue, while iMedic software for healthcare and the cloud platform both contributed evenly to the revenue.
“The reason why the Russian market takes off now is because the Government is driving the market (technology adoption in healthcare sector), while for the other market, the governments have not passed the laws to allow that yet,” he said after the company’s AGM on Wednesday.
He said the company would continue to strengthen and deepen the presence in Russia, China and countries like Taiwan and Singapore.
On the current order book, Eg said it stood at RM35mil, of which products worth RM11mil had been shipped in the last two quarters.
“We will probably ship out the remaining RM24mil in the third and fourth quarters as we are now already in the second quarter,” he said, adding that the company was actively bidding for new contracts in the big markets. - Bernama
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