Written by Leong Chan Teik
L-R: Independent directors Tom Yee and Prof Lye Kin Mun | Executive chairman Dr Chen Mun | Executive director Katherine Ang | Finance manager Molly Chua.
Summary:
Powermatic Data Systems reported a net profit of $4.2 million, up 47.2% y-o-y, drawing praises from several shareholders who spoke up at the AGM. The secret sauce, we learnt, is the wi-fi connectivity solutions that Powermatic has in recent years supplied to enable wi-fi connectivity in transportation vehicles, such as trains, buses and taxis, especially in Europe and the US.
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