Company Overview of Smartag Solutions Berhad
Smartag Solutions Berhad provides radio frequency identification (RFID) solutions primarily in Malaysia. The company engages in the research, design, distribution, and deployment of radio frequency identity tags and other tagging solutions using broadband networks; and provision of training, instrumentation, systems integration, maintenance, and consultancy services. Its solutions include RFID solutions, mobile solutions, and enterprise software solutions for medium and large enterprises. The company also offers mobile digital wallet and payment services; and secured trade service for the security and trade facilitation system using RFID project to address the security, data integrity, and a...
4808-1-26, CBD Perdana 2
Founded in 2004
Key Executives for Smartag Solutions Berhad
Smartag Solutions Berhad does not have any Key Executives recorded.
Smartag Solutions Berhad Key Developments
Smartag Solutions Berhad Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended September 30, 2013; Announces Impairment Charges for the Fourth Quarter Ended September 30, 2013
Nov 22 13
Smartag Solutions Berhad reported unaudited consolidated earnings results for the fourth quarter and year ended September 30, 2013. For the quarter, the company reported revenues were MYR 0.711 million against MYR 0.015 million a year ago. Operating loss was MYR 11.753 million against MYR 1.352 million a year ago. Loss before taxation was MYR 11.753 million against MYR 1.352 million a year ago. Net loss after taxation was MYR 11.753 million against MYR 1.352 million a year ago. Net loss attributable to owners of the company was MYR 11.753 million or 5.17 sen per basic and diluted share against MYR 1.352 million or 0.60 sen per basic and diluted share a year ago. The revenue for the quarter was mainly contributed by RFID and software solutions sales of MYR 0.486 million, equipment sales of MYR 0.189 million and recurring revenue stream of MYR 0.036 million from Secured Trade Project. The higher losses incurred for the current period was mainly due to impairment of property, plant and equipment related to a container tracking project and software assets amounting to MYR 6.025 million and MYR 3.538 million respectively as management had assessed that the future economic benefit generated by these assets are not expected to match with the value of its carrying amount, additional depreciation of MYR 2.824 million of assets as a result of the readiness and commercialization of the Secured Trade Project, additional expenses incurred by its subsidiary, Smartag International Inc, US of MYR 0.388 million to activate it from dormant status, increase in consultancy and technical fee of MYR 0.280 million, staff cost increased by MYR 0.642 million due to staff restructuring exercise, lower capitalization of staff cost of MYR 0.197 million and reduction in other income of MYR 0.227 million from FD interest due to lower bank balances.
For the year, the company reported revenues were MYR 1.158 million against MYR 1.341 million a year ago. Operating loss was MYR 17.127 million against MYR 2.699 million a year ago. Loss before taxation was MYR 17.133 million against MYR 2.698 million a year ago. Net loss after taxation was MYR 17.133 million against MYR 2.698 million a year ago. Net loss attributable to owners of the company was MYR 17.108 million or 7.54 sen per basic and diluted share against MYR 2.694 million or 1.19 sen per basic and diluted share a year ago. Net cash outflow from operating activities was MYR 4.365 million against MYR 2.467 million a year ago. Purchase of plant and equipment was MYR 0.248 million against MYR 7.467 million a year ago.
For the quarter, the company reported impairment of property, plant and equipment of MYR 9.562 million.
Smartag Solutions Berhad Appoints Tan Wee Sin as Joint Secretary
Nov 18 13
Smartag Solutions Berhad announced appointment of Tan Wee Sin as Joint Secretary. He Has been involved in corporate secretarial work for more than 13 years including a wide array of corporate services.
Yvonne Peng Siew Hwee Resigns as Joint Secretary of Smartag Solutions Berhad
Nov 18 13
Smartag Solutions Berhad announced that resignation of Yvonne Peng Siew Hwee as Joint Secretary.
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