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  Financials

Quarterly Report For The Financial Period Ended 31 March 2012

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Condensed Consolidated Statement Of Comprehensive Income
For The Quarter Ended 31 March 2012

(The figures have not been audited)

Condensed Consolidated Statement Of Financial Position
As At 31 March 2012

Group Performance Review

1. Performance of the Current Quarter v Previous Year Corresponding Quarter

   For the current quarter under review, the Group registered a revenue of RM8.52 million compared to the previous year corresponding quarter's revenue of RM7.65 million. The higher revenue of 11.37% in comparison to the preceding year corresponding quarter was mainly attributed by higher level of maintenance income secured in relation to the FMS division.

   As for the profit before taxation, the Group registered RM2.02 million for the current quarter compared to the previous year corresponding quarter's profit before taxation of RM1.95 million, the profits for the current quarter is after incurring a higher operating cost for the group in comparison with the preceding quarter.

   Tabulated below is the segmental break down of the revenue and profit before tax (PBT) for the Group.

   

2. Performance of the Current Financial Year v Previous Financial Year

   The performance remain the same as above as it is the first quarter for the financial year ending 2012.

Business Prospects

The Group is confident of achieving better performance for the financial year ending 31 December 2012 based on the market developments and market trends impacting the Group's business divisions as follows:-

Financial Management Solutions division (FMS) - the recent award of new contracts by Pertubuhan Keselamatan Sosial and Lembaga Hasil Dalam Negeri for a total contract value of RM39,124,350 provide a strong revenue traction for stable growth and sustainable profits.

Payment Aggregate Solutions division (PAS) - this division has been streamline to focus on the financial institution's growing needs for e-transactions going forward.

Wealth Management Solutions division (WMS) - active tendering of contracts for both Indonesian and Malaysian markets for wealth management solutions and banking services are being initiated, after this division successfully secured its maiden project in Malaysia for RM130,146.30 on 10 January 2012.