Company Records RM23.9 million Revenue for 1HFY2011 with record PAT of 5.6mil

ACE-listed and MSC-status eBworx Berhad ('eBworx') reports a profit after tax (PAT) of RM3 million for Q2FY2011 closing 30th June.

This adds up to a total PAT of RM5.6 million for the first half of FY2011 – which already exceeds the company entire PAT for FY2010 (RM4.7 million). This total half year PAT of RM5.6million is on the back of RM23.9 million in revenues. Comparing to the first half of the previous financial year, the revenue has grown 50% while PAT surged by 100%.

According to Group CEO Tan Suan Fong, this achievement puts the company steadily on track to achieve an internal PAT target to exceed RM10 million this year.

“Due to the recovery and uptrend in the banking sector, we have also experienced a boost in our sales orders threefold of that in FY2010 and stands at over RM80 million in banking project orders on hand.”

During the first half of current financial year, the company also strengthened its financial position with a positive operation cash flow of RM12.2 million. After the share buy back, the cash reserve has increased from RM19.5mil to RM27.2 million.

Currently, the Group's Earnings Per Share (EPS) for 1HFY2011 stands at 2.67sen.

Continued Strong Demand for Credit Management & Internet & Mobile Banking

eBworx’s exceptional profit growth performance is primarily due to strong demands for its credit management, Cash Management, Internet & Mobile Banking solutions over the region in the recent months.

This local banking systems provider has also integrated the latest Islamic banking features into its consumer loans systems such as mortgage, hire purchase and credit card applications, making the eBworx Loans Origination System (LOS) a premium credit management brand for Tier-1 banks across the region.

In the region, eBworx has by far the largest client base (of Tier-1 Banks) for credit management systems as compared to any other competitor - with its LOS credit management solution having received various industry recognition such APICTA (Asia Pacific ICT Alliance) and International Data Corp (IDC)’s FIIA (Financial Insights Innovation Awards) in 2009 and 2010 respectively. The Group’s Digital Cash Management System (CAMS) installation sites have also awarded “Best Cash Management System” by Asia Money and Asia Banker Journal.

Media Contact

Judy Wong
PiPR Consultancy Sdn Bhd
Tel: (+603) 7724 1710/ (+6012) 622 4688