Petaling Jaya : Business management solutions provider IFCA MSC Bhd posted a much stronger net profit of RM9.1mil for its fourth quarter ended Dec 31, 2014, up from RM92,000 a year earlier, representing a strong billing quarter for software implementation works.
It also recorded a 122% improvement in revenue to RM31.2mil from RM14mil a year ago and has proposed a final dividend of 1 sen per share under the single-tier system for financial year 2014.
On its business prospects, IFCA MSC said it had outstanding order contracts of RM33.3mil as at end December 2014 which would be carried over to 2015.
“We see continued growth for 2015. Other than the business-as-usual growth in maintenance contracts and software licences, the revenue drivers will be continued goods and services tax (GST) activities, China market growth and Software as a Services (SaaS),” it told Bursa Malaysia.
Based on its experience from equivalent GST or value-added tax implementations in other countries, IFCA MSC said GST activities were expected to go on after April 1, 2015 due to possible legislation changes and fine-tuning during the year, or customers asking for professional services.
Depending on the scope of works required, it said this could translate to another cycle of professional services and software upgrades for its customers.
IFCA MSC said its China operations continued to grow strongly, with sales contracts expanding at 82% or RM13.2mil year-to-date, and would continue to outpace Malaysia.
“There is an estimated 46,000 property developers in China compared with 2,600 property developers in Malaysia.
“As such, our China market represents significant opportunities and potential. Our satisfied customer successes will lead us to more opportunities and repeat business,” it said.