CBS Technology Bhd, which on May 10 reported a 37% decline in net profit for its first quarter, hopes to ride on an anticipated worldwide boom in the radio frequency identification (RFID) industry in the next five years.

Its chief executive officer Sun Chee Kong says towards that end, CBS has allocated RM2 million for overseas expansion in the next few years and hopes to achieve more than 50% of its revenue from foreign earnings in the next five years.