Annual Report 2022 21 ABOUT US LEADERSHIP PERSPECTIVE SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS Other Information Chairman’s Statement LOOKING AHEAD Moving forward, while we anticipate the economic situation to remain challenging, we are keeping an upbeat view on our prospects. The recovery of the Malaysian economy is expected to gain further momentum. BNM has forecasted a GDP growth of 5.3% to 6.3% for 2022 supported by expansion in global demand and higher private-sector expenditure. More importantly, Datasonic is poised to benefit from the reopening of borders given that we are the total solution provider of passports to the Immigration Department of Malaysia. We want to serve our country with pride and continue providing exceptional quality with timely delivery services to avoid any interruptions. Datasonic has been preparing in anticipation to meet the strong demand for passports. At the same time, we foresee the orders for Malaysia National ID (“MyKad”) and its consumables to bounce back firmly in line with the economic recovery. Separately, with international travel gradually returning to normalcy, our business development team has been travelling overseas to meet with existing and potential partners/customers to scale our business. The pandemic has hindered some of our plans and we are now putting everything back on track. On digital transformation, we continue to see vast opportunities for Datasonic given our technical expertise, established track record, and ongoing R&D efforts. As the pandemic gradually makes its way into our rear-view mirror, we expect the digitalisation revolution to accelerate at a faster pace, which augurs well for us. In closing, we are delighted that the worst is behind us and the outlook ahead looks bright for Datasonic. Our focal point continues to be on the smooth delivery with exceptional quality of all our projects and enhancing value for all our stakeholders. Barring any unforeseen circumstances, we are looking forward to a much better year in FY2023. APPRECIATION On behalf of the Board, I would like to extend my heartfelt appreciation to our management and staff for their commitment, hard work and contribution to Datasonic, especially during these demanding times. A huge thank you to all our stakeholders, including but not limited to our customers, business partners, bankers, and suppliers for their unwavering support to Datasonic. To our shareholders, my deepest gratitude goes to you for your patience throughout the difficult period, and for your confidence in us as we continue to grow our business. Next, I wish to welcome our new Board member who joined us in FY2022. Datasonic is pleased to have Encik Azrul Bin Yahaya with us as our Independent Non-Executive Director. He brings with him valuable expertise and experience in the financial industry and digitalisation, which we are confident will contribute positively to the Group. Last but not least, I would like to acknowledge my fellow Board members for their continuous support and wise counsel throughout the year. I have no doubt that our management team, under the leadership of the Board, will steer Datasonic to greater heights as a much brighter future awaits us. General Tun (Dr) Mohamed Hashim bin Mohd Ali (Rtd) Independent Non-Executive Chairman Moving forward, while we anticipate the economic situation to remain challenging, we are keeping an upbeat view on our prospects.
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