Listed on the Main Board of the Kuala Lumpur Stock Exchange, KUB is already well known for its diverse operations in the property and construction sector, plantation as well as its consumer products.
As for its shift of focus into the ICT industry, company chairman and chief executive officer Hassan Harun said the sector's contribution to company revenue last year "has amply justified it."
"We have found our calling, that is, we are now in ICT. Last year's revenue of 69 percent was derived from ICT and ICT-related businesses," he said.
Hassan was speaking to newsmen after chairing the company's 35th annual general meeting here.
He, however, stressed that KUB would not abandon or reduce its position as a major player in the properties and plantation sectors.
Instead, these sectors have been streamlined using ICT to make them more productive and cost-efficient, he said.
Among KUB's flagship business in its ICT division is its on-line education and training programmes through its wholly-owned subsidiary, Universiti Tun Abdul Razak (Unitar).
Unitar also has the distinction of being Malaysia's maiden virtual university and KUB's first ICT application.
Hassan was also asked whether KUB would consider being a venture-capitalist to fund potential cyberpreneurs in setting up dot com entities.
"At the moment we do not have such plans. But KUB has the capability to turn existing business into e-commerce. KUB can assist existing world class companies in Malaysia who are in traditional business to go e-commerce," said Hassan.
For the year ended December 31, 1999, KUB posted a net profit of RM123.9 million, from a net loss of RM64.9 million in 1998.
Hassan also disclosed that KUB's capital expenditure for its ICT division this year would be RM90 million.
From that amount, its e-media subsidiary, VisionScape Sdn Bhd and Unitar would get the lion's share, each getting RM38 and RM15 million respectively, he said.
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