Sino Hua-An set to be key technology player in APAC via Techna-X
03 Jun 2020
Sino Hua-An International Bhd is set to position itself as a key technology player in the Asia Pacific (APAC) region with the formalisation of a new business division called “Techna-X” which will focus on the group’s technology-related businesses.
The company said following a corporate reorganisation since 2019, it has acquired four technology companies and one food and beverage (F&B) company to solidify its digital transformation and digital ecosystem solutions, with a total investment of RM107 million, into Techna-X.
In a statement today the group said it had been layering digital technology interests into its business to allow its shift from conventional metallurgical coke production to transforming economies in the region as a digital transformation enabler.
The acquisitions will provide a total cumulative profit guarantee of RM10 million over the next 12 months to Hua-An and contribute positively to the group’s overall performance in the long term.
Executive director Datuk Jared Lim said the digital transformation market in APAC is expected to grow at a compound annual growth rate of 26.9 percent for the 2018-2025 period and reach US$850 billion by 2025.
He said there was a clear need for digital solutions and advanced analytics for businesses to remain competitive.
“We believe in empowering leaders with digital tools and ecosystems, platform business models and artificial intelligence driven analytics so they can make more informed decisions and improve the performance of their organisations.
“With the completion of Hua-An’s corporate acquisitions and the business reorganisation exercises, we will have the capacity, capability as well as the technical expertise to lead as a digital transformation enabler for the region. This will be a game changer for the group,” he said.
Lim said Techna-X, powered by the data, digital infrastructure and combined analytics capabilities of its subsidiaries, aimed to be a digital enabler to lead the digital transformation of the old economy in the region.
“Digital transformation is key to the community and countries’ growth whereby virtually every industry is becoming increasingly digital, driven by the demand for better data management, improved services and lower costs.
“The right strategy leads to stronger customer experiences, network effects and higher revenues,” he added.