$SNS (0259.MY)$ SNS Network Technology has secured a RM85.52...

SNS Network Technology has secured a RM85.52 million purchase order from a leading e-commerce platform in Southeast Asia and Taiwan for artificial intelligence (AI) super servers. The high-performance servers are capable of supporting intensive AI, machine learning, and deep learning applications and will be delivered to a data centre in Johor Bahru in August 2024. SNS Network Technology MD Ko Yun Hung said the latest purchase order was just the beginning for the company, which is on track to meet its AI hardware sales targets for the year. The company's 1Q25 results show a lower revenue of RM213.59 million, a 26.3% decline from a year ago, mainly due to fewer orders related to government projects from commercial channels compared to the corresponding financial quarter last year. Despite the weaker quarter, the board of directors approved a first interim single-tier dividend of RM0.0025 sen per share for FY25, to be paid out on Aug 28, 2024.