For the Quarter under review, the Group recorded a Revenue of RM184.88 million as compared to the preceding quarter Q1 FY2023 Revenue of RM173.22 million. The Group’s PAT amounted to RM111.35 million in Q2 FY2023 as compared to Q1 FY2023 PAT of RM105.34 million. The increase in Revenue of RM11.66 million (6.73%) and PAT of RM6.01 million (5.71%) was primarily due to: i) contribution from our Zetrix blockchain platform; and ii) contribution from the sale of Zetrix tokens.
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Zetrix advancing into deep monetisation stages. Zetrix’s potential is gaining more clarity as the blockchain platform is on track to be integrated into China’s and the Philippines’ customs, with the China blockchain services targeted to be commercially launched in Oct 23. The key scope of services includes the issuance and authentication of the certificate of origin (COO), smart contract information verification and blockchain-based digital signing. We anticipate more Zetrix token sales in the upcoming quarters as the customs project are commercially launched and start generating transaction fees and gas fees which are settled with Zetrix tokens.
Zetrix’s planned soft ICO should gain good traction. We understand that Zetrix’s initial coin offering (ICO) would feature in a high-tier over the counter (OTC) exchange in Sep 23, and we anticipate good subscription rates for Zetrix. We retain our assumption of 2023 token sales at 5.5m Zetrix coins @ USD5/coins (estimated 1H23 sales: c.2m coins).
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GoldenBull66
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Posted by GoldenBull66 > 2023-08-18 17:30 | Report Abuse
Patient. World Market sentiment bad. Plus home minister hasn't comment on niise. Once confirmed will breached back higher.