SEDANIA's Offspring booming despite MCO

KUALA LUMPUR: Sedania Innovator Berhad (“Sedania” or the “Company”), has recently announced their financial year performance for Q1, 2021, which recorded as their highest performance since they were listed.

Based on the report provided, the Company recorded Group revenue of RM17.07 million, more than six-fold increase from RM2.78 million in the same period last year.

Group profit after tax is recorded at RM4.89 million compared to a loss after tax of RM1.82 million in Q1 2020.

SEDANIA CEO Daniel Ruppert said, “The pandemic has reshaped consumer behaviour worldwide. Based on the reports published recently, there are a total of 40 million new users in 2020, making it to a total of 400 million new internet users in Southeast Asia."

Ruppert added, “Our HealthTech segment under Offspring Inc is recording a sharp rise in online sales compared to pre-pandemic period. Our June online sales recorded an increase of almost 65 per cent to average online sales recorded in the same period last year”.

E-commerce was growing fast before the pandemic, however, the global health crisis has pushed more consumers online. This has led to an acceleration to digital consumption.

According to SEDANIA, their HealthTech segment has contributed approximately 32 per cent of the Group’s total revenue.

“We are at a strategic intersection, as we remain cautiously optimistic behind the background of an unprecedented pandemic,

"SEDANIA has been given a golden opportunity to capitalise our technological expertise, capabilities and core offerings.

"Our FinTech segment has been receiving many requests from prospect clients to relook into their end-to-end operation in their journey towards digital transformation.”

We are proud to be the technology enabler for the said exercise, said Ruppert again.

According to SEDANIA, one of their key focuses in 2021 is to continue to build their Esports segment to become the first ever Unicorn company in Malaysia.

In a previous statement, it was reported that their pre-Series A funding round has over RM32 million post-money valuation, 900 per cent capital growth in just 18 months.

The audience of Esports has grown exponentially in recent years, and industry experts estimate that by 2023, nearly 656 million people will participate or watch Esports online.

Ruppert concluded in the interview, “The staggering numbers simply show that Esports has become the revolution in the sports and entertainment industry amid the pandemic. As cliche as it may sound, the pandemic has given us the opportunity to shine.”