IFCA eyes local and foreign projects worth RM150mil

  • Business
  • Tuesday, 07 Oct 2003

IFCA MSC Bhd, a specialist business solutions provider, is eyeing overseas and local projects worth RM150mil, mainly in the property sector. 

Its president Leong Nyu Juan said the company had submitted tenders and quotations for more than RM50mil and expected to secure 75% of the projects. 

“Half of the projects are overseas,'' he said after a signing ceremony to mark the handover of Property Plus and Loans Plus software to the National Housing Enterprise of Namibia in Petaling Jaya yesterday. 

IFCA's overseas projects are in Australia, Britain, South Africa, China and Vietnam; with South Africa being the most significant in terms of project value. 

Leong said the company was looking to grow revenue from overseas from 18% of total turnover last year to between 35% and 40% for the financial year ending Dec 31. Overseas operations contributed RM4.18mil to revenue last year. 

The company recorded profit after tax of RM2.56mil on revenue of RM14.32mil for the first six months ended June 30. 

Leong said the company expected this year's net profit to be double the RM2.87mil achieved last year. 

IFCA, which was listed on the KLSE Mesdaq market in July, is involved in enterprise-wide and integrated software business solutions for the property, construction and engineering, hospitality, finance and leasing, manufacturing and distribution industries. 

It provides software and services to more than 15,000 users across Asia, Europe, Africa and Australia. 

Leong said IFCA now had RM15mil projects in hand which would last it for the next three to four months. The overseas portion accounts for than a third of these projects. 

On its Namibia project, Leong said the job, worth RM4mil, was jointly undertaken with its South Africa partner, MBS Software (Pty) Ltd. 

“The National Housing Enterprise of Namibia is very happy with our software and told us that our software is not only applicable in Namibia but also in other African countries due to its industry-specific functions and features, enterprise wide integration and pro-active technology,'' he said. 

IFCA has also embarked on projects in Botswana and South Africa. 

Stock watch on IFC MSC

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