【IFCAMSC 0023 交流专区】 IFCA多媒体

哭哭鸟

交易不尋常遭質詢‧IFCA：不知情
2015-01-17 10:07
http://biz.sinchew.com.my/node/108981
      
（吉隆坡16日訊）近期股價與成交量齊齊攀高的IFCA多媒體（IFCAMSC,0023,創業板科技組）強調，對股價波動的原因不知情。

大馬股票交易所今日向該公司發出不尋常市場活動（UMA）質詢，該公司盤後在回應文告中說，在詢問董事與大股東後，他們對於足以造成股票出現不尋常交投的原因，一概不知情。

該股週五盤中原本首度做到1令吉價位上方，創下1令吉零1仙的歷史盤中新高，在交易所質詢後，其股價應聲下滑，全天跌4.5仙或4.52%，收報95仙。

IFCA多媒體股價於去年6月杪開始節節上升，6月16日閉市才報10.5仙。

無論如何，市場早前看好IFCA多媒體可從今年4月實施的消費稅（GST）中受益。根據聯昌研究於去年10月的報告，該公司或會在2014和2015年通過消費稅軟件升級銷售及訓練獲得6千萬至7千萬令吉的收益。（星洲日報／財經）

sephiroth9457

Fund managers’ stock picks
Saturday, 10 January 2015
http://www.thestar.com.my/Business/Business-News/2015/01/10/Fund-managers-stock-picks-Stocks-on-Bursa-Malaysia-are-off-to-a-rocky-start-in-2015-Its-a-continuati/?style=biz

LEE SOOK YEE
Chief investment officer,
Kenanga Investors Bhd.

Stock pick: IFCA MSC Bhd

IFCA is an ACE-listed business software solution company specialising in the property industry with a market share of 70% serving more than 1,500 customers in Malaysia and Asia. We like IFCA for its highly scalable business model and strong earnings growth in the next two years, underpinned not only by the GST software upgrade but also the sustainable web-based conversion business as well as overseas expansion.

Although IFCA’s 2014/2015 earnings will benefit strongly from the GST software upgrade in Malaysia, the perception that the company is a one-off GST play is misplaced. Its web-based conversion and regional expansion, especially penetrating into the Chinese market with more than 40,000 property developers (versus Malaysia’s 2,300) will propel earnings to the next level far beyond the current base.

Moreover, management is hands-on and has a clear roadmap for the company going into the next three years, including potentially launching new business initiatives like e-commerce and regional mergers and acquisitions.

Other catalysts include IFCA’s first dividend payout this year, an indication of its strong cashflow and net-cash balance sheet position, coupled with the likely migration of the stock to the Main Market of Bursa Malaysia in 2015.

Valuation-wise, based on our in-house FY15 EPS estimates, IFCA is trading at a FY15 PE multiple of 12.5 times, against a two-year EPS compounded earnings growth of more than 300%. We see substantial value in IFCA at current valuations.

Risks include a recession-like slowdown in economic conditions, which results in the closing down of the business of some property developers and an unexpected rise in competition, although we think the latter is less threatening, as IFCA is far more established than its next competitor. Moreover, customers tend to be sticky with little incentive to replace a software solution once implemented.

icy97

中国印尼本地带动 IFCA放眼盈利大增

财经新闻 财经  2015-01-20 11:50
（吉隆坡19日讯）IFCA（IFCAMSC，0023，自动报价股）放眼中国、印尼和本地市场可在2015财年录得显著的盈利增长。

目前IFCA在这三个市场的销售合约达1亿3000万令吉。

财经日报《The Edge》引述IFCA总执行长杨健（译音）谈话报道：“中国业务将带动成长，我们计划新开10间销售中心，预计现财年营业额贡献可倍增至6000万令吉。”

他说，在中国，平均每间销售中心有400万令吉的销售额，因此，这个目标并不夸大，而且还很保守。

该公司的目标是在五年内开70间销售中心，但这必须胥视增聘人力资源的速度。

高伸缩性和低资本开支的业务性质使IFCA可在中国迅速扩张。

此外，该公司也会在短期内透过并购印尼公司进入该市场、IFCA已经在和印尼各造商谈详情。

明年失消费税催化剂

印尼的业者都是使用过时版本的微软软件，所以急需可以上网连线的解决方案，这块市场具有很大的潜能。

杨健表示：“到了明年，消费税的催化剂或许不存在，所以我们正在开发新的网络/移动平台解决方案予产业开发商。”

该公司放眼在2015财年争取总值2000万的消费税软件升级和培训订单。【南洋网财经】

哭哭鸟

IFCA 拟20-30%净利派息
财经新闻 财经  2015-01-21 11:51
http://www.nanyang.com/node/676645?tid=462

（吉隆坡20日讯）IFCA（IFCAMSC，0023，自动报价股）透露，该公司将于今年2月制定派息政策。

该公司今日向马交所报备，现在正在探讨设定派息政策，预计将今年内把20%至30%的净利用来派息。

惟目前该项提议还在与董事部商讨中，会在取得核准后宣布。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	News Release-THE EDGE Financial Daily for Group dividend policy
Reference is made to the article published in THE EDGE Financial Daily 19 January 2015 for the IFCA MSC Berhad (IFCA) group dividend policy. The Board of Directors ("Board") of IFCA wishes to clarify that the Company is looking at establishing a dividend policy with the payout ratio of 20% to 30% of its net profit for the year and is seeking Board's approval for the proposed quantum from 20% to 30%. Once the Board's approval has been obtained, an immediate announcement on the details of the dividend policy will be made. The Board is expecting to conclude the Group dividend policy in February 2015. This announcement is dated 20 January 2015.

哭哭鸟

Type	Announcement
Subject	OTHERS
Description	News Release - Additional clarifications - THE EDGE Financial Daily 19 January 2015
Reference is made to the article published in THE EDGE Financial Daily 19 January 2015 entitled "No slowing down for IFCA in FY15" in particularly the following paragraphs:   1. IFCA MSC Bhd expects China, Indonesia and the domestic market to help the enterprise software solutions provider deliver "remarkable" better earnings for the financial year ending Dec 31, 2015 (FY15), with sales contracts amounting to RM 130 million from the three markets.   2. Yong said IFCA is also eyeing a share of the Indonesian market in the near term through acquisition of a local firm. The Board of Directors ("Board") of IFCA wishes to clarify as follows:   1. The sales contract value of  RM 130 million includes an amount of RM 33 million which is carried forward from contracts secured in 2014 and the balance of RM 97 million represent sales that the Company hopes  to secure in FY15. However this is not a revenue forecast for FY15 and the sales target have not been reviewed by the external auditors.   2. The Company is in the midst of identifying the target company to be acquired, however this is still at preliminary stage where negotiation yet to commence. Once the details of the proposed acquisition have been finalized, an immediate announcement on the details of the acquisition will be made based on Listing Requirements. This announcement is dated 21 January 2015.

哭哭鸟

競優國際每股盈利看漲 料增長介於16%至46%
財經股市4 Feb 2015 20:45
http://www.chinapress.com.my/node/597338
　
（吉隆坡4日訊）競優國際（IFCAMSC，0023，創業板科技）今年前景正面，該公司正研究以軟件為服務來增加持續性收入來源，加上中國市場龐大成長潛能，市場將公司2014至2016財年每股盈利上調為介于16%至46%之間。

競優國際以1.10令吉開市，早盤一度漲11仙至1.17令吉全日最高水平，休市報1.14令吉，起8仙。該股閉市掛1.15令吉，起9仙，成交量183萬5600股。

聯昌證券研究指競優國際盈利成長前景主要由3項因素推動，包括消費稅軟件升級、中國市場，以及轉向流動平台。該公司將在今年從消費稅軟件升級看見短期提振效益，預計相關營業額有5000萬至6000萬令吉潛能。

潛在催化因素

競優國際在國內有約1400個客戶，具了解只有50家公司從微軟平台轉向新的流動應用程序平台。此平台的平均軟件成本為100萬令吉，若以過去紀錄為指標，該公司旗下客戶需耗時5至7年，才可全面轉向以流動為基礎平台。

同時，該公司有意提升持續性收入來源，其中一種方式是通過以軟件為服務達到目標。競優國際正研究將網絡軟件出租的可能性，至于訂購方式將以月度或年度為基礎，不過報告未計算此業務的潛在盈利貢獻。

報告上修競優國際每股盈利預測，並將合理價上調至1.48令吉，維持“增持”評級。該公司潛在催化因素包括強勁盈利成長前景、中國高于預期銷售以及在今年計劃轉板至主要板。

哭哭鸟

0023    IFCAMSC    IFCA MSC BHD

Quarterly rpt on consolidated results for the financial period ended 31/12/2014

Quarter: 4th Quarter Financial Year End: 31/12/2014 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 31/12/2014 31/12/2013 31/12/2014 31/12/2013 RM '000 RM '000 RM '000 RM '000 1 Revenue 31,188 14,034 89,241 52,007 2 Profit/Loss Before Tax 11,867 (67) 25,589 1,897 3 Profit/(loss) attributable to ordinary equity holders of the parent 9,124 92 21,077 1,728 4 Net Profit/Loss For The Period 9,340 (22) 21,810 1,655 5 Basic Earnings/Loss Per Shares (sen) 1.89 0.02 4.36 0.38 6 Dividend Per Share (sen) 1.00 0.00 1.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 0.1500 0.1300

icy97

Type	Announcement
Subject	OTHERS
Description	DIVIDEND POLICY
The Board of Directors of IFCA MSC Berhad (“IFCA” or “the Company”) wishes to announce that the Company has adopted a dividend policy to pay an annual dividend of at least 20% of the net operating profit earnings per share (per the audited financial statements of the Company), rounded to the nearest whole sen number, provided that such distribution will not be detrimental to the Company’s cash flow requirements. This dividend policy shall commence for the financial year ended 31 December 2014.

Type	Announcement
Subject	OTHERS
Description	Proposed final dividend of 1 sen per share under the single-tier system in respect of the financial year ended 31 December 2014
The Board of Directors of IFCA MSC Berhad is pleased to propose a final dividend of 1 sen per share under the single-tier system in respect of the financial year ended 31 December 2014 The final dividend is subject to shareholders' approval at the forthcoming 17th Annual General Meeting.

icy97

消費稅軟件每年料進賬2千萬‧IFCA具成長潛能

2015-03-07 11:07
（吉隆坡6日訊）IFCA多媒體（IFCAMSC,0023,創業板科技組）可借助消費稅（GST）順風揚帆，聯昌研究預測為未符GST法規之房產公司翻新軟件，估計每年進賬2千萬令吉，這是3千500萬令吉營業額預估之額外驚喜，建議“加碼”。

聯昌說，此股的長遠成長潛能受組合投資機構追捧，總持股達15%，預期在散戶與組合投資者買盤支撐總持股今年告增。

該股大受激勵，週五最高揚14仙至1令吉31仙，閉市起13仙或11.1%至1令吉30仙。

管理層在匯報會上披露，30%的房產公司的客戶是無法在截止日符合GST法規，因此不會在4月截止前完成有關GST軟體更新；配合GST而為客戶推出每月保費制，每月為客戶提昇和革新軟體，估計每年有2千萬令吉進賬。

聯昌假設這區塊客戶市佔達20%，以每月保費5千令吉計可獲120萬令吉，假若是80%賺益每月可帶來100萬或強化每股盈利0.2仙，有助提昇今明財政年每股盈利達2.3%與2.8%。

一、兩個月內推展SaaS

管理層也公佈將於一、兩個月內推展軟體即服務（SaaS），這計劃下小型房產公司不必購買軟體，而租用即可，每月租費是IFCA多媒體的循環收入。

假設從每SaaS計劃每月獲1萬令吉收費，並且80%房產公司願獲此服務，國內市場就有2億5千萬令吉。

然而，聯昌認為這可能需要更長時間讓客戶熟悉SaaS，這項服務具長遠成長潛能。SaaS在美國非常盛行，不過這可能需要一些時間在中國、區域與國內風行。

聯昌相信該多媒體公司今年可再創輝煌，主要成長來自中國的軟體提昇工程；未來數年，SaaS可為公司帶來循環收入，不必再依賴售賣軟體的營收。

國內總共有2千600間房產公司，該公司相信有20%房產公司由視窗平台轉至移動平台，估計未來5至7年可從每客戶平均獲100萬令吉營收，此區塊市場價值達5億7千萬令吉。

該公司中國業務目前只有100名客戶，中國有4萬5千間房產公司，管理層預期從中國市場銷售獲增長80至100%，長遠增長潛能無限。

該公司在中國有8辦事處，今年杪料再增10辦事處；去年，該公司銷售增長80%至3千萬令吉，進賬營收只達2千380萬令吉。

聯昌維持該股“加碼”評級，重估催化劑包括2015年轉主板，目標價保持1令吉48仙。（ 星洲日報／財經）


机构持股增数利好支撑 IFCA业绩料创新高
财经新闻 财经  2015-03-10 11:29
http://www.nanyang.com/node/686152?tid=462

哭哭鸟

热门股 IFCA上挑RM1.40
股市 热股技术点评  2015-03-07 11:41
http://www.nanyang.com/node/685609?tid=704

IFCA（IFCAMSC，0023，创业板科技股）日线趋势于3月6日显现技术反弹走势，闭市时收1.30令吉，按日涨13仙或11.11%。
短期，该股料会于上挑1.31-1.40令吉。

哭哭鸟

竞优助力四川置信计划管控升级
2015-03-06
http://www.ifca.com.cn/news/20150306.html

为进一步加强项目计划管理，培养专业计划管理人才，让计划管理工作标准化，近日，四川置信携手竞优软件在成都置信601会议室隆重召开了计划管理系统项目启动会，四川置信公司总经理、副总经理、竞优软件集团代表、代建项目甲方代表经理，项目组成员等30余人等齐聚一堂，共同出席了此次启动会。

会上，四川置信项目经理对系统建设背景进行了回顾，并对项目计划管理系统建设的意义和目的进行阐述。他表示传统的项目计划管理方式已经不能满足跨区域、多项目并联发展的需要，为完善计划管理体系，公司经过多番考察对比，最终选择携手拥有三十多年房地产信息化丰富经验的竞优软件作为系统建设合作伙伴，通过信息化手段进一步规范和标准化管理过程，进而实现计划实时跟踪、掌握项目动态，项目间协同配合，实现“管理复制”，达到让企业管理层“看得见、用的好、管得住”的目的，最终为未来业务的快速发展提供强大的管理知识库和经验传承，确保公司战略执行到位。

竞优软件项目经理则介绍了系统的建设目标，项目范围、组织架构、实施计划及项目管理事项等内容，同时感谢四川置信选择竞优软件作为合作方，竞优定将不负重托，会派出竞优最精优的项目团队，保证投入重点资源，与四川置信共同努力，确保项目的成功上线。

最后，四川置信总经理表示，项目计划管理系统项目酝酿已久，在时机、需求、能力等因素逐渐具备的条件下，终于启动实施，标志着川信在信息化道路上迈出了一大步，更为公司的管理提升提供了一个较好的平台，希望项目主要成员能够全心全力协作配合，为四川置信项目计划管理系统实施取得圆满成功而努力奋斗！

icy97

IFCA获338万合约

财经新闻 财经  2015-03-12 11:54
（吉隆坡11日讯）IFCA（IFCAMSC，0023，创业板）宣布，从Rangkaian HotelSeri大马私人有限公司获得一项总值338万8000令吉合约，为国内22个地点提供产业管理解决方案。

文告指，每年的维修费不包括在合约总值内。

该项合约预计将为公司2015财年每股盈利和净资产带来贡献。【南洋网财经】

Type	Announcement
Subject	OTHERS
Description	IFCA MSC BERHAD ("IFCA" or "THE COMPANY") - Acceptance of Award of Contract from Rangkaian Hotel Seri Malaysia Sdn Bhd. (RHSM)
The Board of Directors of IFCA is pleased to announce that, on 15 January 2015, had received a letter of award from RHSM for the supply of a Property Management solution  for  22 (twenty two) sites, all located in Malaysia. The contract sum is RM 3,388,000 (Three Million Three Hundred Eighty Eight Thousand) . Annual maintenance fee is not included in contract sum. The Contract is not expected to have any material effects on the share capital and shareholding structure of the Company. However, it is expected to have positive contribution to the earnings per share and net assets per share of IFCA for the financial year ending 2015. There are no significant risks other than operational risk associated with the Contract. None of the Directors and/or substantial shareholders of the Company or persons connected to the said Directors and/or substantial shareholders have any direct or indirect interest in the Contract. The Board of Directors, after due consideration, is of the opinion that the acceptance of the Contract is in the best interest of the Group. The Contract being incurred in the ordinary course of business, is not subject to the approval of the shareholders. This announcement is dated 11 March 2015.

哭哭鸟

助力顶尖跨国营运开发商 独创管理新机制
2015-03-19
http://www.ifca.com.cn/news/20150319.html

新加坡悦榕集团与竞优软件共同签属了合作协议，并于近日召开了项目启动会。悦榕集团的董事总经理，成本总监，销售总监，财务总监等相关业务负责人，竞优销售总经理以及项目组成员共同出席了本次会议。

悦榕集团为顶尖度假村、酒店及SPA的国际营运开发商。自从1994在泰国普吉岛开设第一家度假村以来，悦榕集团在全球已扩展成一家多元业务企业，并于2006年在新加坡证券交易所上市。集团目前于28个国家拥有36家酒店及度假村、约73间SPA、91间精品店及三座高尔夫球场，并预期于2017年于33个国家增加至66家酒店及度假村、117间SPA、151间精品店。悦榕集团的创新经营模式包含3个核心业务领域，为其带来多源收入，在酒店业是非常独特的。也正是这种培养内部人才发展并经营集团附属产品的方程式，让竞争者难以成功复制。

会议上,悦榕集团董事总经理表示希望通过信息化软件促使悦榕集团业务更好地管理与发展，目前悦榕集团正处在自身提升与业务跨越的阶段，从酒店管理公司的业态升华到房地产的开发商与运营商，业务密集型的房地产业务本身就需要高度信息化的管理，通过信息化的管理增强了对发展的决心与信心，并将中国成都乐古浪项目作为悦榕集团在全国的信息化的种子项目，成为全国的试点项目。希望竞优软件通过结合悦榕的自身条件和零经验的实际情况助力悦榕实现管理创新，并有针对性地提出了三个目标：1、短期目标，相关业务人员主动配合，保证各项工作有序开展; 2、中期目标，成本模块与销售模块分别上线运行; 3、远期目标，竞优系统与悦榕成都项目团队成为国内信息化流程的种子。

竞优销售总经理则表示，竞优抱着最大的诚意，不光是全力支持此次成都乐古浪系统项目，更是与悦榕融入一体，目标是一致，努力把成都乐古浪项目做成标杆，积极打造悦榕集团全面的推广上线。

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没有中文版本,能放英文的吗?

Highlights / Stock Picks of the Day - IFCA MSC Berhad (IFCAMSC) – Trading Buy
Publish date: Thu, 2 Apr 2015, 10:28 AM
http://klse0.i3investor.com/blogs/kenangaresearch/73881.jsp

We are revisiting IFCAMSC as the share price rose 5.0 sen to settle at RM1.29 on the back of higher daily trading volume yesterday. As a result of the strong upwards move, IFCAMSC looks poised to stage a rebound from its -2 SD regression level. This marks a continuation of its uptrend after three weeks of consolidation. Indicator-wise, the Stochastic has emerged from the oversold territory to support the reversal play. Buying interest is also picking up as seen by the uptrend trajectory shown on the RSI indicator. All in, we are issuing a “Trading Buy” call on IFCAMSC in anticipation that the share price will gradually make its way towards the RM1.44 measurement objective (which is also its mean regression level). Traders buying into the stock should also place a stop-loss at RM1.22 (3 bids below its immediate support level).

        
Source: Kenanga
  

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Date	Financial Year	No.	Financial Quarter	Revenue (RM,000)	Profit Before Tax (RM,000)	Net Profit (RM,000)	Earning Per Share (Cent)	Dividend (Cent)	NTA (RM)	Trend
17/02/2015	31/12/2014	4	31/12/2014	31,188	11,867	9,124	1.89	1.00	0.150
05/11/2014	31/12/2014	3	30/09/2014	25,747	9,358	8,530	1.90	0.00	0.130
19/08/2014	31/12/2014	2	30/06/2014	18,252	3,606	3,002	0.67	0.00	0.120
20/05/2014	31/12/2014	1	31/03/2014	13,690	757	421	0.09	0.00	0.110
27/02/2014	31/12/2013	4	31/12/2013	14,345	-75	71	0.02	0.00	0.110
21/11/2013	31/12/2013	3	30/09/2013	15,262	1,950	1,565	0.35	0.00	0.110
22/08/2013	31/12/2013	2	30/06/2013	12,928	810	578	0.13	0.00	0.100
23/05/2013	31/12/2013	1	31/03/2013	9,783	-796	-506	-0.11	0.00	0.100
26/02/2013	31/12/2012	4	31/12/2012	12,933	295	488	0.11	0.00	0.110
23/11/2012	31/12/2012	3	30/09/2012	11,612	783	389	0.09	0.00	0.100
23/08/2012	31/12/2012	2	30/06/2012	10,420	1,251	1,613	0.40	0.00	0.100
25/05/2012	31/12/2012	1	31/03/2012	10,950	1,334	992	0.24	0.00	0.100

http://www.malaysiastock.biz/Corporate-Infomation.aspx?type=A&value=I&source=M&securityCode=0023


不知今年5月份会有惊喜吗?

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今天Affin Hwang Investment Bank Bhd给ifca的tp是1.90
不好意思目前我没有中文的

下载报告：
http://www.bursamarketplace.com/index.php?ch=24&pg=88&ac=13586&bb=research_article_pdf

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软件方案吃香盈利年增12倍 IFCA跻身高增长科技股
财经新闻 财经  2015-04-14 08:29
http://www.nanyang.com/node/693730?tid=462

（吉隆坡13日讯）若投资者要寻找高增长的软件科技股，无需到美国的硅谷、爱尔兰的特拉维夫（Tel Aviv）或印度的班加罗尔，马来西亚就有！

彭博社点名我国科技股IFCA（IFCAMSC，0023，创业板），指该公司去年的盈利激增12倍，未来更放眼借助中国的需求，录得更亮眼的表现。

IFCA的主要业务，是为产业公司提供云端计算的软件方案，该方案可让产业公司轻易追踪销售及付款进度。

值得注意的是，中国富豪王健林旗下的大连万达集团，也采用了IFCA的软件方案。

根据彭博社引述IFCA总执行长杨建泉（译音）谈话称，消费税带来了庞大的商机，推动公司去年的软件销量增长76%，盈利也跃升12倍，达2110万令吉。

八成产业公司是客户

“在大马的1000家产业巨头中，有80%是我们的客户，我很有信心公司今年的业绩，将再创下新纪录。”

他表示，产业领域具备资金雄厚、风险和竞争剧烈的特点，所以，业者往往不惜开销，来购买科技解决方案。

因此，IFCA计划推出租赁服务软件，通过可负担的价格和按月订户的方式，为客户提供服务，以增加更多经常收入。

同时，公司也会设立产业推介网站。

随着中国的经济增长亮眼，杨建泉看好该国将在2018年，成为公司最大的市场。

“中国的增长令人惊艳，加上该国政府放宽产业交易政策，相信可带动产业领域的需求走高。”

包括大连万达集团在内，IFCA目前在中国拥有100名客户。

根据中国统计局的预测，在2013年该国有超过9万家产业公司。

股价一年飙13倍

彭博社数据显示，IFCA的业绩表现抢眼，带动股价在过去12个月，飙涨了1321%。

公司在全球市值少于1.5亿美元的科技企业中脱颖而出，录得增幅最大的斐然成绩。

Areca资本总执行长黄德明表示，网络和科技是现代生活的趋势，相信资讯科技和软件发展企业，将在今年延续强势的增长。

联昌国际投行研究技术分析员预测，IFCA的净利将在未来3年，取得每年228%的增长。

但辉立资产管理公司总投资长洪国兴则认为，IFCA的业绩已反映在股价中。

除了IFCA的销量表现强劲之外，我国的Grabtaxi手机应用程式，也一跃成为东南亚最大的德士服务手机应用程式，吸引了众多海外投资者的目光。

闭市时，IFCA报1.35令吉，平盘挂收，成交量有236万7900股。

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IFCA jumps 5.2% after described as world's top software stock
By Yimie Yong / theedgemarkets.com   | April 14, 2015 : 2:01 PM MYT   
http://www.theedgemarkets.com/my/article/ifca-jumps-52-after-described-worlds-top-software-stock

KUALA LUMPUR (Apr 14): IFCA MSC Bhd ( Financial Dashboard) climbed as much as 5.19% or 7 sen, after it was featured in a Bloomberg report, describing it as “the world’s top software stock”.

At 12.30pm, IFCA MSC was 4.44% or 6 sen to RM1.41 with 1.32 million shares traded.

Meanwhile, its warrants rose 4.07% or 5 sen to RM1.28, with 5.5 million units done.

IFCA (fundamental: 3.0; valuation: 1.1) was also one of the most actively traded stocks on Bursa Malaysia.

According to Bloomberg’s report, shares of IFCA have surged 1,321% over the past 12 months, the most among software companies worldwide with a market value of at least $150 million (RM555.44 million).

The report also quoted CIMB Research analyst Nigel Foo, who opined IFCA’s profit will probably jump at an annual rate of 228% over the next three years.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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1.47了... 冲啊.........

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IFCA to sustain growth momentum
By Yimie Yong / The Edge Financial Daily   | April 15, 2015 : 10:13 AM MYT   
http://www.theedgemarkets.com/my/article/ifca-sustain-growth-momentum?type=Markets

KUALA LUMPUR: IFCA MSC Bhd ( Financial Dashboard), whose share price has gained 1,310.53% in the past year as one of the major beneficiaries of the goods and services tax (GST), expects to sustain its strong growth momentum in 2015, driven by the launch of new cloud-based solutions for small and medium enterprises (SMEs), and high growth from the China market.

“There is still a huge potential for us to grow our recurring income as we launch our software as a service (SaaS) in June, which is designed specifically for the SMEs,” IFCA chief executive officer Ken Yong Keang Cheun told The Edge Financial Daily in an interview.

SaaS allows smaller property companies to rent IFCA’s (fundamental: 3; valuation: 1.1) software.

“SMEs can subscribe to our software services by paying a monthly subscription fee of RM4,000 to RM5,000 instead of forking out hundreds of thousands of ringgit upfront,” said Yong.

The business software solutions provider, which is seeking to transfer its listing from the ACE Market of Bursa Malaysia to the Main Market by year end, posted a 1,119.7% surge in net profit to RM21.07 million for the financial year ended Dec 31, 2014 (FY14), from RM1.73 million in FY13, mainly due to the scalable nature of the software business.

Revenue for FY14 rose 71.59% to RM89.24 million from RM52 million.

IFCA is the country’s largest maker of cloud-based software for property companies, with around 80% market share of the domestic property sector. It serves major property developers including S P Setia Bhd ( Financial Dashboard) (fundamental: 1.4; valuation: 1.4), Mah Sing Group Bhd ( Financial Dashboard) (fundamental: 2; valuation: 2.4) and Eco World Development Group Bhd ( Financial Dashboard) (fundamental: 0.5; valuation: 0.3).

With the implementation of the GST on April 1, which forces smaller companies to computerise and upgrade their software, Yong believed it’s a “very good time” for IFCA to launch SaaS.

The group will launch four SaaS products this year, covering business accounting solutions for contracting business, standard operating procedures, marketing and contract management.

Yong said IFCA will not restrict itself to the property industry but will expand its services in the information technology, construction and engineering sectors.

This year, IFCA is also banking on growth from its China market. “It is business as usual in China. Our existing business is growing there and we plan to open eight to 10 offices in China this year,” he said.

Yong expects the China market to grow significantly this year, leveraging on its reputation and proven products. It accounted for 30% of the group’s revenue in FY14.

“It’s very competitive in China, but if you can provide the best product, people will buy from you,” he said.  

IFCA’s clients in China include big names like the Wanda and R&F groups, and Country Garden Holdings Co Ltd. Other regional clients include Japan’s Mitsui Fudosan Co Ltd and Singapore’s CapitaLand Ltd ( Financial Dashboard).

Some may think IFCA’s recent share price rally and stellar financial performance ride mainly on the GST theme, but Yong said the good results it recorded in FY14 were not solely from GST software upgrade jobs, which only contributed 20% to its revenue in FY14.

“Our new software and cloud-based products targeted at bigger property players like S P Setia, Eco World and Sunway Bhd ( Financial Dashboard) (fundamental: 1.5; valuation: 1.8) had helped boost our profitability,” he said.

Yong conceded, however, that IFCA, together with other software and technology companies, have benefited from the GST imposition.

“The implementation of the GST actually triggered the trend of computerisation. It makes computerisation a must for all companies as they have to prepare reports to the customs now,” he said.

The group, with a market capitalisation of RM759.38 million, has caught the attention of institutional investors, which currently hold a combined 20% stake.

Yong said he will be participating in roadshows to further promote IFCA to fund managers in Hong Kong and Singapore.

As at Jan 23, Yong has a direct interest of 0.51% and an indirect interest of 42.48% in IFCA, according to Bursa Malaysia.

Some believe the GST theme would end two quarters later when companies finish their upgrades, and that the current share price of the GST-related stocks is not sustainable, but CIMB Research senior analyst Nigel Foo said IFCA may be the exception.

“IFCA has its contribution from China and it will still benefit from the migration from the Windows platform to a mobile-based platform. SaaS and its plan to transfer to the Main Market are the potential catalysts,” he added.