AwanBiru Technology Berhad (“Awantec” or the “Group”) held its 11th Annual General Meeting (“AGM”) today on a virtual basis, which was broadcasted live from Menara Symphony, Petaling Jaya, Selangor.
Participated by shareholders, proxies, auditors and other guests, the AGM which commenced at 10.00 a.m., witnessed exchanges between shareholders, Awantec’s Board of Directors and Executive Managements, covering among others; key financials, strategic direction and prospects of the Group.
Awantec’s President and Group Chief Executive Officer, Dr. Abu Hasan bin Ismail, in his presentation reported that the Group is on track towards rebuilding its business with major parts of the Group’s short-term goals chalked down.
“Our focus on four (4) core strategies have yielded positive outcomes, allowing us to fulfil most of our short-term objectives. We have completed our rationalisation plan with total proceeds of RM10.3 million from cost-cutting and divestment of non-core assets. The Group has also concluded its corporate exercises which have raised a total of RM77.7 million which further strengthened its capital structure and cash position.
Awantec’s strategy to reboot, pivot and rebuild has also borne into fruition, as supported by our achievements, including the award for Selangor Kerjaya Programme, nomination by Malaysian Administrative Modernisation and Management Planning Unit as Managed Service Provider to support national public sector digital transformation, and our recent win of Ministry of Education project award in July 2021”, explain Dr. Abu Hasan.
With the Group’s new collaborations and partnerships, Awantec seeks to expand its products and service offerings in the digital and cloud space.
Consolidating its effort throughout the financial year 2021, Awantec remained fully committed to Doing Well by Doing Good in carrying out the Group’s sustainability principles. Ranked in the top 25% for its ESG ratings amongst companies in FTSE Bursa Malaysia EMAS by FTSE Russell, the Group continued to address its Environmental, Social and Governance matters - keeping a high standard of corporate governance which won them the Excellence Award for Corporate Governance Disclosure, by Minority Shareholder Watch Group in August 2021.
The AGM which was held to pass a total of sixteen (16) resolutions, concluded at 5.00 p.m. with all the proposed resolutions carried by the way of poll voting.
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