KUALA LUMPUR: eBworx Bhd sees new growth areas in the mobile device area and the implementation of Basel III. The company is a technology solutions firm that provides software to banks for Internet banking and credit processing.
eBworx chief executive officer Tan Suan Fong told reporters here yesterday that it will continue to invest heavily in research and development for the mobile device area, as more banks look to revamp their applications for mobile technology. "Basel III will also see banks re-look the framework for credit processing system, so that will be an area of focus for us," he said. Basel III is a global regulatory standard on bank capital adequacy, stress testing and market liquidity risk.
eBworx's list of clients include CIMB Bank Bhd, Hong Leong Bank Bhd and RHB. It serves Singapore, Indonesia, Thailand and China as well. The company, which now has an order book of RM70 million, expects to bag RM80 million more this year. About 70 per cent of its income is recurring while 30 per cent is from software licensing. It derives revenue from software licensing, implementation services, maintenance and enhancement services.
eBworx is yet to deliberate on whether to pay out dividends intermittently or to establish a set of dividend policy. The company made a net profit of RM11.83 million against RM51.8 million revenue for the financial year ended December 31 2011.
eBworx is the IT software service provider to the financial sectors. Their business model is similar to IBM or Oracle.
ReplyDeleteThey are proving services to many of the Malaysia banks