Market Chatter: Pentech Eyes Higher Recurring Revenue With Push into AI, Cybersecurity
Pentech (KLSE:PENTECH) aims to lift recurring revenue to 40% within three years as it shifts towards managed services, cloud offerings and new AI and cybersecurity-driven solutions, The Star reported Monday, citing Chief Executive Yeoh Chin Ming.Addressing a press conference, Yeoh said the group is converting one-off projects into longer-term contracts of one to three years while expanding cloud services developed over the past eight years. The company is preparing to roll out AI tools, cybersecurity solutions and a security operations center this year, with hiring already underway in Kuala Lumpur, according to the report.Yeoh said banking, logistics and healthcare will be key growth drivers as digital adoption accelerates, while the firm continues refining technologies ahead of full deployment, the news outlet said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
