KUALA LUMPUR (Aug 21): Pertama Digital Bhd's net loss widened to RM4.5 million for the second quarter ended June 30, 2023 (2QFY2023), from RM24,000 in the previous year’s corresponding quarter, mainly due to higher administrative and operating expenses. This is the group’s fifth straight quarterly loss.

The comparative quarter also saw the group record RM1.24 million in profit from its now discontinued operations of fabric production and sale, which did not contribute to 2QFY2023's bottomline, its bourse filing showed.

Revenue came in 37.15% higher at RM1.65 million compared with RM1.21 million in 2QFY2022, due to higher commission earned from its eJamin bail collection service — a digital bail payment solution used in criminal courts throughout the country, its bourse filing showed. Administrative expenses more than doubled to RM5.8 million from RM2.16 million while other operating expenses grew to RM32,000 from RM11,000.

For the six months ended June 30, Pertama Digital incurred a net loss of RM6.27 million as opposed to a net profit of RM5.05 million a year ago, as revenue dropped 52.42% to RM3 million from RM6.31 million following the discontinuation of the mySMS services that supported My Sejahtera’s functions for the Ministry of Health (MOH), after Malaysia transitioned into the Covid-19 endemic phase.

Pertama Digital said it is implementing the coin conversion project Kocek, through its 80%-owned subsidiary, Dapat Vista (M) Sdn Bhd (DVSB).

This initiative involves placing kiosks at selected commercial areas where the general public, including retailers and consumers, can sell their Malaysian shillings (coins) in exchange for money that will be credited to their respective bank accounts using its mobile app MyPay. “The purpose of Kocek is to provide a convenient solution for individuals to manage their excess or unused coins by selling them to the company's kiosks. It also offers easy access to coins for those who need them,” it said.

The group will generate transaction fees based on the total value of coins bought or sold through the kiosks by the public, it said.

“With further plans in development, which will be announced at the appropriate time, the mobile and digital solutions businesses of the group have a promising outlook. DVSB's potential, along with the group's new business operations in the mobile and digital solutions sector, are expected to contribute positively to earnings,” Pertama Digital added.

On Monday, shares of Pertama Digital finished three sen or 0.97% higher at RM3.13, valuing the group at RM1.37 billion.