Formis to focus on innovation services

KUALA LUMPUR: Information technology company, Formis Resources Bhd, aims to focus on innovation services, with eyes on large corporations, small and medium enterprises as well as homes and consumers.

Group chief executive officer/managing director, Datuk Larry Gan, said the company has set up a 'competency group' comprising consultants and veterans in the technology industry to help drive the new service.

He said Formis would help large corporations boost their operations.

"We have organised ourselves to go into these large corporations to help them come out with the digital blueprint and also look at how we can enhance their business processes and market channels," he said this to reporters after the group's annual general meeting (AGM) today.

Gan said the company would also be exploring new markets such as Myanmar.

Non-executive chairman, Tan Sri Megat Najmuddin Megat Khas, said the new initiatives would contribute to the company's earnings in the medium to long run.

Formis' pre-tax profit for the first quarter ended June 30, 2014 rose to RM1.61 million from RM883,000 in the same period last year.

Its revenue jumped to RM94.03 million from RM69.31 million previously.

At the AGM, Formis' shareholders approved the company's name change to Omesti Bhd.