SMTrack Berhad (“SMTrack” or “the Company”) is an investment holding company listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The Group has developed and operated businesses across several sectors, with its business portfolio comprising delivery, beauty and wellness, drone and aviation, oil and gas, food and beverage, property management and development. Historically, the Group was principally involved in Radio Frequency Identification (“RFID”) and technology solutions, providing tracking, identification and traceability-related solutions to various industries. The Group continues to retain its technology capabilities and experience in this area and will evaluate opportunities for the commercialisation of such capabilities where there is identifiable market demand and viable commercial potential.
During the financial period under review, the Group continued to reshape and rationalise its business portfolio, with greater emphasis placed on businesses with clearer revenue-generating potential and opportunities to optimise the utilisation and value of its existing resources and assets.
The Group’s Beauty and Wellness business, principally carried out through V Ultimate Sdn. Bhd. (“V Ultimate”), became an important operating and revenue-generating business of the Group during the period. V Ultimate operates beauty and wellness outlets offering a range of aesthetic, laser, facial and related services. The Group continued to develop its outlet network, review its service offerings and branding, and improve operational efficiency with the objective of establishing a more sustainable and scalable business.
The Group also has interests in the Food and Beverage (“F&B”) sector, where it continues to assess outlet performance, operating costs and opportunities to improve revenue and margins.
In the aviation sector, the Group holds aviation-related assets and interests and continues to evaluate opportunities to maximise the utilisation and value of these assets. The Group’s aviation activities during the period were affected by operational, commercial and asset-related considerations, and the Group has adopted a more selective approach towards further commitments in this area.
The Group also retains capabilities and interests relating to drone, unmanned aerial vehicle and advanced air mobility (“UAM/AAV”) initiatives. These activities remained at an early or developmental stage during the period and were not material revenue contributors. The Group will continue to assess potential applications, strategic partners and commercial opportunities before committing significant resources to these initiatives.
As part of its ongoing business review, the Group has also taken steps to rationalise or reassess activities that are not currently contributing materially to the Group’s revenue or profitability. This includes reviewing non-core projects, contractual arrangements and asset utilisation, with the objective of allocating the Group’s financial and operational resources towards businesses and opportunities with stronger commercial prospects.
Going forward, SMTrack’s strategic focus is to strengthen its core revenue-generating businesses, improve operational efficiency, exercise prudent financial and cash management, optimise its existing assets and resources, and pursue selective business development opportunities and strategic partnerships.
The Group also remains focused on strengthening its corporate governance, internal controls and regulatory compliance as it progresses its Regularisation Plan and works towards addressing the requirements applicable to the Group under Bursa Securities’ ACE Market Listing Requirements (“AMLR”).
