Kuala Lumpur, 6 October 2003 – IFCA MSC Berhad (“IFCA” or the “Company”) recently listed on the Mesdaq Market of Kuala Lumpur Stock Exchange signed a hand-over with the National Housing Enterprise of Namibia (NHE) today. The signing is to mark the completion and handover of IFCA’s first project with NHE in Namibia. The RM4 million project includes installation and implementation of IFCA’s enterprise-wide, integrated software business solutions namely Property Plus and Loans Plus. The solutions not only link NHE’s branches nationwide to its head office in Windhoek but also enable NHE to manage its entire property development and mortgage financing operations. NHE is a semi-government body reporting to the Ministry of Regional and Local Government of Namibia and is the prime developer as well as an authorized lending institution mainly in social housing development in Namibia.

This project was brought in jointly by IFCA and MBS Software (Pty) Ltd., the Company’s Business Partner in Southern Africa. The project started in August 2002 and was completed within 13 months.

At the signing ceremony, IFCA was represented by Mr. Leong Nyu Kuan, president of the Group while Mr. K.R.M. Kavekotora, CEO and Mr. Brian Schultz, director represented NHE and MBS Software respectively. The signing was also witnessed by CEO of MDC, Y. Bhg Datuk Dr. Mohamed Ariff Nun and His Excellency Neville Gertze, High Commissioner of Namibia to Malaysia.

Mr. Leung Nyu Kuan says, “With the completion of this project in Namibia, IFCA has again proven itself as a successful Malaysian product and brand name being accepted and recognized globally.” “NHE is very happy with our software and told us that our software is not only applicable in Namibia but the Africa continent in general because of its industry-specific functions and features, enterprise wide integration and pro-active technology. That spells doors of opportunities opening for us in the African continent” he added.

IFCA’s 16 years of experience and knowledge in understanding the needs of the property industry helps the Company to clinch the contract with NHE. NHE is now equipped with fully integrated software to manage its front-end activities such as prospective customers, property sales, sales administration, document tracking, renovations, progress billings, sales receivables, handing over, warranty periods, tenancy management, tenancy receivables, utility billings and seamlessly integrating to the backend financial accounting and reporting functions.

Loans Plus supports NHE in its total business solution for its finance and mortgage operations. The software is designed to manage front-end activities such as marketing, credit processing, cashiering, administration of leases, loan assets admin, collateral, legal and insurance administration and many more. These activities are then fully integrated to the same back-end financial accounting and reporting functions

IFCA is principally involved in R&D and selling of enterprise-wide integrated business solutions with complete and comprehensive functionality primarily focused on property development and management, construction and engineering, hospitality, finance and leasing, manufacturing and distribution industries. Currently, IFCA has sold more than 15,000 licensed users spreading across 4 continents namely, Asia, Europe, Africa and Australia.

The Company recorded its half yearly revenue and profit after tax of RM14.32mil and RM2.56 mil as at 30 June 2003. To date, IFCA has submitted tenders and quotations in excess of RM50M. The international portion accounts for approximately one-third of this amount. The Company has a Pipeline in excess of RM150M as at Sept 2003. Presently, the Company is aggressively penetrating into markets in China, Middle East, West Asia and Africa. As such, the global contribution will be a major growth factor.

The African continent, the Middle Eastern region and China offer the most promising market potential and will contribute significantly to IFCA in the next three years. In line with this, IFCA has set up its office in Shanghai, appointed business partners in Jordan and UAE. More partners will be appointed to cover the Middle Eastern and West Asia regions. Apart from NHE in Namibia, IFCA’s software will soon be completed and fully operational in countries such as Botswana and South Africa.

Other industry-specific, integrated software business solutions offered by IFCA are Contract-plus (construction management software), ERP-plus (for manufacturing and distribution) and D’Resort, (for hotel, club and resort) which were successfully launched and well accepted in the local and international markets.

Issued by:RAPR Mileage Communications Sdn. Bhd.
On behalf of:FCA MSC Berhad
Media Enquiries:Bee Kong / Joey Gan(bee@rqnet.com.my) / (joey@rqnet.com.my)
Tel:03–2282 2333
Fax:03–2284 5768