VICOM logs 10.2% increase in H1 net profit

Thanks to the increase in OBU installation activities, amongst others.

VICOM Ltd’s net profit attributable to shareholders reached $15.6m in the first half (H1) of the year, up 10.2% from last year.

According to a bourse filing, the company’s revenue jumped 24.1% to $69.8m in the first six months of the year, whilst its operating profit increased 12.3% to $18.9m.

"We have performed well in H1 2025, mainly driven by the acceleration of OBU [On-Board Units] installation activities and improved contributions from our non-vehicle testing capabilities,” VICOM CEO Sim Wing Yew said.

VICOM expects satisfactory performance in the second half of 2025 as demand for vehicle testing and related work is expected to be strong, with the installation of OBU for the Electronic Road Pricing (ERP) 2.0 exercise in full swing.

Demand for non-vehicle testing is also expected to remain stable, but there is increased uncertainty regarding the effects of US tariffs on the manufacturing sector and the overall economy.

“We will continue to be vigilant, adapting to potential market uncertainties whilst meeting evolving industry needs,” Sim said.