Loss-making information and communications technology (ICT)
provider, HeiTech Padu Bhd is on track to turn around
its business this year, said group chief executive officer (CEO)
"With certain loss-making projects now completed and behind
us, most of our subsidiaries and business units are profitable
and we believe that we will be on the right track to turn our
performance around in 2014," he said in an email interview with
The Edge Financial Daily.
Harris said it was part of the group's work ethic to see
projects through to the end, even if it was evident that it
would cause a drag on earnings, and not write them off.
"As a system integrator, project delays are one of the
business risks we face and these challenges are part and parcel
of the business that we are in. And to overcome these
challenges, we have intensified our risk management process," he
For the fourth quarter ended Dec 31. 2013, the group
registered a net loss of 20.6 million ringgit ($6.32 million), a
reversal from the net profit of 5 million ringgit posted in the
same quarter a year before. Revenue decreased to 133.91 million
ringgit from 146.34 million ringgit previously-The Edge
Sarawak plans to sell palm oil in Middle East-The Star
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 3.2580 Malaysian ringgit)