Century Software 1Q net profit up 4.1% to RM2.03 million

KUALA LUMPUR (May 2); Century Software Holdings Bhd net profit forthe first quarter ended March 31, 2012 rose 4.1% to RM2.03 million from RM1.95 million a year earlier due mainly to higher level of maintenance income secured in relation to the financial management solutions (FMS) division.

The company said on Wednesday that revenue for the quarter rose 11.37% to RM8.52 million from RM7.65 million in 2011.

Earnings per share fell to 0.59 sen from 1.13 sen previously, while net assets per share was 16 sen.

On its prospects, Century Software said it was 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.

It said the recent award of new contracts by Pertubuhan Keselamatan Sosial (SOCSO) and Lembaga Hasil Dalam Negeri (LHDN) for a total contract value of RM39. 12 million to FMS would would provide a strong revenue traction for stable growth and sustainable profits.

“Payment Aggregate Solutions division (PAS) – this division has been streamlined 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 Jan 10, 2012,’ it said.



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Stocks to Watch PBB, TNB, Eversendai, Century Software, FSBM

KUALA LUMPUR (April 18): External factors — especially those emanating from Europe and the US — are seen as crucial drivers of global stock markets on Thursday. Investors will continue to monitor Spain government bond sales and US corporate earnings as they weigh the impact of pre-election sentiment in Malaysia.

While trading volume across the Malaysian exchange has increased due to transactions for penny and ACE Market stocks, analysts are also mindful of the lower traded value. This, they said, is an indication that the broader market and blue chip stocks could still in consolidation mode due to cautious trade.

The FBMM KLCI of 30 blue chip stocks added 2.67 points to close at 1,598.86 on Wednesday, just short of the psychological 1,600-point barrier. A total of 2.13 billion shares worth RM1.62 billion were traded.

Stocks to watch on Thursday include PUBLIC BANK BHD [] (PBB), TENAGA NASIONAL BHD [] (TNB), Eversendai Corp Bhd, Century Software Holdings Bhd, and FSBM HOLDINGS BHD [].

PBB says its first quarter net profit rose 6% from a year earlier as higher interest and fee-based income, besides lower allowance for impaired loans, mitigated the impact of higher operating expenses. It said net profit came to RM940.81 million in the quarter ended March 31, 2012 against RM884.06 million previously. Revenue was up 13% to RM3.37 billion from RM2.99 billion.

Malaysian Rating Corp Bhd (MARC) has affirmed its AAA ratings for TNB's Islamic bonds with a stable outlook. The rating is supported the utility's economic importance which should ensure a high degree of government financial support to sustain its existing ratings in the future, according to MARC.

South Korea's Hyundai Engineering & CONSTRUCTION [] Co Ltd has roped in Malaysia's Eversendai as a subcontractor for Package 2 of the Qatar National Museum project. The package is worth QAR160 million (RM134 million). Eversendai said it will fabricate and supply steel structures for the construction of the museum.

Century Software has clinched two contracts worth a combined RM5.6 million from the Inland Revenue Board (LHDN). The job includes the maintenance and upgrade of accounting software for the client, Century said.

Information TECHNOLOGY [] firm FSBM will trade ex-rights on Thursday. The firm is undertaking a renounceable rights issue of up to 60.32 million new shares with an equal number of free new detachable warrants at an issue price of 30 sen per rights unit. The exercise is undertaken on the basis of one rights share and one warrant for one existing unit held in FSBM. The rights units will start trading on the local exchange next Tuesday.



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Century Software gets jobs worth RM5.6m from LHDN

KUALA LMPUR (April 18): Century Software Holdings Bhd’s unit has secured contracts worth a total of RM5.6 million from the Inland Revenue Board (LHDN).

The company said on Wednesday that its unit Century Software (Malaysia) Sdn Bhd ("CSM") had on April accepted two letter of awards from the LHDN for two contracts.

The first is a maintenance contract valued at RM3 million for Standard Accounting System for Government Agencies (SAGA) Century Financials from 2012 until 2014 at the LHDN.

The second contract, worth RM2.6 million was to upgrade and replace equipment for the SAGA system, it said.

Cenrtury Software the projects would contribute positively to its future earnings.



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