SNS Network Technology Shareholders Approve All Resolutions at AGM

Company finished FY2023 with revenue increasing 26.2% to RM1.40 billion

IPOH, 7 JULY 2023 – SNS Network Technology Berhad ("SNS " or the "Company"), an ICT products, services and solutions provider, today announced that shareholders have approved all resolutions at the Company’s Annual General Meeting (“AGM”) held on a virtual platform.

Managing Director of SNS, Ko Yun Hung said, “I would like to thank everyone for taking time off to attend this virtual AGM to vote on the resolutions as announced to the stock exchange as well as allow the Board of Directors (“BoD”) and management to take questions on the Company’s business and operations from shareholders”.

“It has been an eventful year for us. Our revenue increased by 26.2% to RM1.40 billion, with almost all revenue contributed by the sale of ICT products from the domestic market on more orders from the commercial channel. Profit before tax grew 17.8% to RM57.36 million while profit after tax grew by 21.7% to RM43.72 million.”

SNS has paid the first and second interim single-tier dividends of 0.50 sen per ordinary share amounting to RM8.06 million for FY2023, and the Company has also announced on 27 June 2023, a first interim single-tier dividend of 0.25 sen per ordinary share amounting to RM4.03 million in respect of FY2024 to be paid on the 28 August 2023. This is the third dividend distribution from the Company since its listing in September 2022.