KRONOLOGI TARGETS TO RAKE IN REVENUE OF UP TO RM400 MLN IN FY2025

KUALA LUMPUR, June 25 (Bernama) -- Information technology services company Kronologi Asia Bhd is targeting to net up to RM400 million in revenue for its financial year ending Jan 31, 2025 (FY2025), as compared with FY2024’s revenue of RM301.39 million.

Kronologi executive director and chief operating officer Tan Jeck Min said growth will be driven by the group’s two main segments, namely enterprise data management infrastructure technology (EDM IT), and cloud and hybrid as-a-service (AAS).

“Our top line is always driven by our infrastructure business (EDM IT) and our key focus now is also for the AAS to grow even though it only contributes 20 per cent to revenue,” he told reporters after the company’s corporate briefing (corporate update financial year 2024) here today. 

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Tan added that Kronologi is seeking to continue to grow both segments in view that their partners and vendors are leveraging on the services.

He also said Kronologi would also switch from focusing on capital expenditure to streamlining property, plant, and equipment operating expenses (OPEX). 

This, Tan said, is to gear towards greater capital efficiency that will lead to annualised savings and strengthen the company’s non-cash profitability.

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“We need to convert this capital into OPEX, which involves leasing. This involves having partners take over the asset so the leasing would cost much less,” he said.

Tan said the company is planning to execute this plan by the end of this quarter or the beginning of next quarter. 

-- BERNAMA