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Extracted from Annual Report 2016

Dear Valued Shareholders,
On behalf of the Board of Directors, it gives me great pleasure to present the Annual Report and Audited Financial Statements of IDimension Consolidated Bhd and its group of companies for the financial year ended 31 December 2016.

Overview and Financial Performance

For the financial year ended 31 December 2016 ("FY16"), the Group recorded a profit after tax of RM 1.13 million against a revenue of RM 56.88 million whereas in the previous year the Group recorded a loss of RM 3.48 million against a revenue of RM 56.74 million. The increase of the profit after tax is primarily due to the reversal of impairment loss on trade receivables of RM 1.84 million which was provided in the financial year ended 31 December 2015 ("FY15") and no impairment loss on trade receivables required in FY16 as compared to RM 3.71 million provided in FY15.

Although the Group revenue for both FY16 and FY15 stand within the range of RM 56.7 million and RM 56.9 million, there are significant movement on revenue by operating segment. The revenue of the Information Technology ("IT") business segment is decreased by 21.27% in FY16, which recorded RM 11.36 million, as against RM 14.43 million in the previous year. This was mainly due to the facts that the overall competition landscape for the IT industry remains challenging. On the flip side, the revenue in the online gaming business segment increased by 7.59% amounting to RM 45.52 million, as against RM 42.31 million in FY15 mainly due to the expanded reseller base in the respective countries.


The Board does not recommend any dividend for FY16.

Overview Of The Malaysian Economy

Based on Bank Negara Malaysia's Fourth Quarterly Bulletin of 2016, for the year 2016, the Malaysian economy grew by 4.5% in the fourth quarter of 2016, supported by continued expansion in private sector expenditure. On the supply side, growth continues to be driven by the manufacturing and service sectors. Inflation, increased to 1.7% in the fourth quarter of 2016, driven mainly by upward adjustments to domestic fuel prices during the quarter. Going forward, the global economy is expected to improve but remains on a moderate growth path. There are indications of more sustained growth in the major economies in 2017. However, downside risks to global growth continue to prevail, arising from the volatility in commodity prices, policy uncertainties and growth prospects of the major developed economies, heightened risk aversions in the global financial markets as well as geopolitical developments.

Future Prospects

We are cautiously optimistic in growing our business in 2017 amidst the challenges posed by the volatile global economic growth. Sales are anticipated to be driven by both existing customers and contributions from new customers. The Group will focus in product development and enhancement on the existing products. We will also continue to take necessary action to rationalise the Group's operations to achieve optimal and efficient cost structure.


On behalf of the Board, I would like to convey my sincere gratitude to the Management and employees of our Group for their tireless effort, loyalty, dedication and commitment to drive the Group forward. My gratitude also goes out to our customers, business partners and associates for their invaluable support and confidence. Appreciation must also be extended to government agencies and regulatory authorities for the guidance, cooperation and support.

Datu Dr. Michael Dosim Ak Lunjew