KUALA LUMPUR (Apr 15): IFCA MSC Bhd extended its gains today on plans to launch new cloud-based solutions for small and medium enterprises (SMEs), and high growth from the China market.
As at 10.45am, the stock was traded at RM1.46, rose 6 sen or 4.29% with 7.06 million shares traded. It has a market capitalisation of RM756.18 million.
The counter was traded between RM1.41 and RM1.47 today.
According to Bloomberg, 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 US$150 million (RM555.44 million).
The Edge Financial Daily reported today that IFCA (fundamental: 3; valuation: 1.1), which was one of the beneficiaries of the implementation of Goods and Services Tax (GST), expects to sustain its strong growth momentum this year on the back of launching of new cloud-based solutions for small and medium enterprises (SMEs), and high growth from the China market.
Its chief executive officer Ken Yong Keang Cheun said there is still a huge potential for the group to grow its recurring income upon launching its software as a service (SaaS) in June, which is designed specifically for the SMEs.
SaaS allows smaller property companies to rent IFCA software.
Under the programme, Yong said SMEs can subscribe to their software services by paying a monthly subscription fee of RM4,000 to RM5,000 instead of forking out hundreds of thousands of ringgit upfront.
Yong also 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, according to him.
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.
(Notes: 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.)