PETALING JAYA: Kronologi Asia Bhd’s improved quarter-to-quarter performance for the three months ended July 31, 2021 (Q2’22) demonstrates the efficacy and power of As-A-Service, Pay Per Use, consumption- and subscription-based models, according to its CEO, Edmond Tay Nam Hiong.

The hybrid and cloud enterprise data management technology and solutions company achieved its third consecutive quarter of revenue surge.

For Q2’22 it reported a net profit of RM5.11 million, attributed to growth in revenue from Singapore and the Philippines and from its enterprise data management infrastructure technology service. Revenue for the quarter stood at RM74.51 million.

Following the change in the group’s financial year end from Dec 31 to Jan 31, there are no comparative preceding year corresponding quarter numbers.

“Towards the end of Q2’22, the group also completed a major milestone for geographic expansion with the full acquisition of our China associate company to strengthen market expansion efforts in China. A market where our various solutions are now being used by two of the top five hyperscalers by market share,” Tay said.

He said although two out of the top five hyperscalers are in China, they did not represent the majority of its business in China.

“Our business in China is far and wide, we have customers from the banking, government, and entertainment sectors in China. The hyperscaler is one of the core pillars that consume our services and data management solutions,“ Tay told reporters in a virtual corporate update today.

In a filing to the bourse, the group said its strength continues to build as its customers find increasing value in its As-A-Service and data management hybrid solutions, with accelerating penetration in new markets.

“We introduced a major release of Kronologi’s As-A-Service platform to next generation data storage platforms for analytics, hyperconverged infrastructure, hybrid and private cloud services cum solutions.

“Our go-to-market strategy and partner relationships are maturing, as we continue to expand ‘share of wallet’ from our existing customer accounts and through securing new accounts. We delivered strong growth across the board, notably cloud based revenue year-over-year. Having established strong momentum in the first six months of the year, we expect to build upon that going forward,” it said.