BUSINESS & OPERATIONAL REVIEW For us at Datasonic, while we rode on the road to recovery, we also faced our fair share of upheavals. The reopening of international borders certainly bodes well for us given that we are sole provider of passport solutions to the Immigration Department of Malaysia (“IDM”) since 2016 with an excellent track record. On the flip side, the disruptions caused by the COVID-19 pandemic have caused havoc in the global supply chain, which we had to monitor and manage closely to ensure we are able to meet the surge in demand for passports. In fact, passport issuance hit a new high in FY2023. On a related note, Datasonic is immensely proud to share that we have commenced the in-house manufacturing of polycarbonate data page. With that, we now have the first-ever Malaysian passport that is 100% made in Malaysia. Datasonic is grateful for the unwavering trust bestowed upon us by the Government. As a committed partner in the country’s national security, we pledge to utilise our expertise, technical know-how and years of experience to provide exceptional and timely delivery services, constantly striving to exceed expectations. Meanwhile, Datasonic had in August 2022 received and accepted a letter of extension for additional contract ceiling value for Malaysia passport chip contract to include maintenance of Public Key Infrastructure & Public Key Directory (PKI & PKD) and e-gate system nationwide for RM31.4 million. Similarly, for our Malaysia National ID (“MyKad”) project, the demand has been picking up healthily in tandem with the reopening of the economy. Orders were previously impacted by the pandemic and the resulting movement control restrictions. In March 2023, we secured a RM12.4 million extension contract for the supply of MyKad, MyTentera, MyPOCA raw cards and consumables to the National Registration Department (“NRD”). Dear Valued Shareholders, The financial year ended 31 March 2023 (“FY2023”) proved to be a remarkable year for us as we capitalised on the business rebound following the pandemic’s impact. Datasonic experienced substantial growth as we successfully tapped into the pent-up demand for our products and services. With that, we delivered a healthy set of results. FY2023 profit attributable to the owners of the Group (“net profit”) jumped 7.5 times to RM76.4 million on the back of RM344.7 million revenue. It is worthy to mention that this was the highest-ever top-line performance in our history, surpassing the previous record revenue of RM318.4 million achieved in FY2017. With the commendable set of results, Datasonic declared a total dividend of 2.0 sen per share, totalling RM56.7 million. This works out to a dividend payout ratio of 74.2% based on FY2023 net profit of RM76.4 million. Discussion & Analysis MANAGEMENT FY2023 Revenue: RM344.7 million PERSPECTIVE 03 38
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