October 31, 2006
First Nine Months Profit Surged 578% As Compared To 2005’s Corresponding 9 Months Earning
Petaling Jaya, 31 October 2006 - eBworx Berhad has registered a profit-after-tax of RM5.75 million for the first 9 months ended 30 September 2006. The profit surged to a high of 578% as compared to the corresponding 9 months in the previous financial year.
The first nine months’ net profit translates into earnings per share of 2.61 sen per 10 sen share.
Profit after tax for the third quarter was RM1.91 million compared with RM1.86 million previously. This gives an earning per share of 0.87 sen.
“Our profit margin has improved with better project execution. Client’s in Malaysia, Indonesia, Singapore, Thailand and China continue to contribute new orders to us.”
“We are also enjoying strong growth in the areas of banking IT outsourcing and insourcing,” said Chief Executive Officer Tan Suan Fong.
“With a healthy order book, the directors expect the performance for the financial year ending 31 December 2006 to be satisfactory. With strong recurring revenue generated from maintenance and enhancement services from our software installation sites across South-East Asia and China, we are optimistic about the profit growth in 2007” he added.
eBworx is a home-grown regional financial solutions specialist, providing a wide array of innovative digital commerce solutions to the financial services industry which include software products, technology consulting and systems integration services that enable financial institutions to improve their sales operational efficiency and manage credit risk.
It was granted MSC status on 11 February 2002. In 2001 and 2004, IDC Market Research (M) Sdn Bhd identified the eBworx Group as a “Local Software Hero in Malaysia” as recognition for its position as a significant software company in Malaysia.
It has three wholly-owned subsidiaries – Digital Nervous System Sdn Bhd, incorporated in Malaysia, eBworx International Pte Ltd, incorporated in Singapore and eBworx Technology (Beijing) Co Ltd, incorporated in China. The principal activity of all three companies is the provision of computer software applications and dealing in computer software and hardware for the financial services industry.
Institutional Investors
eBworx institutional investors include OSK Venture Equities Sdn Bhd, a venture capital company of OSK Ventures International Berhad and CSE-Infotech Limited, a wholly-owned subsidiary of CSE Global Limited, which is listed on the Main Board of the Singapore Exchange.
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