KUALA LUMPUR: Malaysia's listed companies that provide technology-related services are booming as businesses and education are mostly focused online amid the Covid-19 pandemic.
They included AppAsia Bhd, ARB Bhd, Censof Holdings Bhd, Excel Force MSC Bhd and Hong Seng Consolidated Bhd, according to top10malaysia.com.
The portal's Top 10 list also comprises IFCA MSC Bhd, Iris Corp Bhd, OpenSys (M) Bhd, Systech Bhd and N2N Connect Bhd.
The 10 companies continued to retain high revenue income even when other businesses were adversely affected financially, it added.
These companies' shares, market capital and profits reached millions in ringgit and some even funded millions of ringgit for Covid-19 related initiatives or took over projects that are worth billions of ringgit.
AppAsia, listed on Bursa's high growth ACE Market, is one of Malaysia's leading digital platform providers specialising in advanced mobile applications, digital contents, e-marketplaces, big data and artificial intelligent technologies.
Led by Calvert Wong, AppAsia has expanded its ventures over previous years into various digital areas.
AppAsia launched the country's first and only industry-wide Electronic Confirmation Platform with Malaysian Institute of Accountants last June.
The digital platform is targeted to be used by all the auditors and banks operating in Malaysia to process the bank confirmation for 1.3 million companies.
ARB, formerly Aturmaju Resources Bhd and led by Datuk Seri Liew Kok Leong, was listed on the Main Market in 2004.
It has evolved from timber as its core business to include IT solutions and services.
ARB provides services for Internet of Things such as for smart homes, smart buildings, smart water supply and also Enterprise Resource Planning Solution.
Its net profit for the fourth quarter of 2020 grew 54.4 per cent to RM19.74 million from RM12.79 million a year ago, on the back of a surge in revenue.
Censof was established in 2008 and led by Ameer Shaik Mydin.
It has become one of the leading Bumiputera companies in the accounting and technology industry with a growing portfolio of clients from the private and public sectors.
Censof has 400,000 clients and 320 staff in over five countries.
The company returned to the black with a net profit of RM2 million in the third quarter of the year ended March 2021.