Addvalue Tech gets order for maritime communications system
MAINBOARD-LISTED Addvalue Technologies on Sunday said it has secured an initial trial order of about US$1 million for the supply of its latest generation of maritime communications system, Wideye iFleetONE terminal.
The company said it is also in talks for orders of about US$3.5 million from potential new customers, of which some are presently testing the product on their vessels.
Colin Chan Kum Lok, chairman and chief executive of Addvalue said: "By bundling our product with value-added features, such as Inmarsat's Emergency calling service, automatic position reporting and fleet tracking capabilities, we are able to better serve the fast growing niche market and bolster the resilience of our revenue model. This will position us favourably for growth in satellite communications and related solutions in small vessel market. Underlining our transformation strategy with commercial refocusing, this will enable us to maintain our growth traction and deliver long-term, sustainable value to our shareholders."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Block raises annual forecast on resilient consumer spending
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Apple profit ebbs as iPhone sales under pressure
DBS customers unable to log into digibank, PayLah! on Thursday
NYSE-parent ICE’s revenue misses as muted IPO markets offset record energy trading
Amazon bets big with CrowdStrike on cybersecurity products