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  Chairman Statement

Extracted from Annual Report 2010

On behalf of the Board of Directors of Century Software Holdings Berhad, I am pleased to present to you the Annual Report and Audited Financial Statements for the financial year ended 31 December 2010

Financial Results

The Group recorded a revenue and profit before tax of RM 31.73 million and RM 12.80 million respectively for the financial year 2010. As the Group has to facilitate its listing, it acquired Century Software (M) Sdn Bhd and T-Melmax Sdn Bhd on 15 December 2010 and 20 December 2010 respectively, hence there is no comparative result's available.

Business Performance
FMSS Division

The financial management software solutions division recorded a revenue and profit of RM 31.73 million and RM 10.45 million respectively for the financial year 2010.

We expect the FMSS operations to continue as the main profit contributor for the Group.

Payment Aggregation Software Division

The payment aggregation software division recorded a revenue and profit of RM5.29 million and RM0.44 million respectively for the financial year 2010.

Business Prospects

For the financial year 2011, the FMSS industry in the public sector is projected to have continued significant growth in line with the Government's initiative to automate its processes to improve the financial management system. There are vast opportunities beyond Malaysia as more governments move into the digital environment by investing in financial management infrastructures. Small and medium enterprises, both local and international are also expected to contribute to the industry as these establishments grow and expand. Being a FMSS provider we can capitalise on this opportunity to offer our services globally, especially during this time of economic recovery where many companies are finding ways to streamline expenditures.

As for the payment aggregation software division, the market is expected to be vibrant with exciting opportunities due to the high growth rate of internet banking in Malaysia, supported by BNM's continuous efforts to improve the payment system infrastructure within the financial community. The growth of broad band and internet penetration will spur growth for e-payment applications and adaptations.

Appreciation

On behalf of the Board, would like to thank the Directors, Management and Staff of the Group for their dedicated services over the year. We would also take this opportunity to thank the various government authorities and agencies, bankers, valued customers, suppliers and business associates for their assistance, guidance, contribution and continued support.

Finally, I wish to thank my fellow Board members for their support and the shareholders for their confidence in the Board and Management of the Group.

Tan Sri Dato' Mohd Ibrahim bin Mohd Zain
Independent Non Executive Chairman

13 April 2011