KUALA LUMPUR, June 23 (Bernama) -- Microlink Solutions Bhd, listed on the Mesdaq Market of Bursa Malaysia Friday, is confident of achieving the revenue and net profit it forecast for its financial year 2006.
The company had announced a targeted net revenue of RM23.3 million and net profit of RM6.45 million when launching its prospectus earlier this month.
"Currently, our order book has already achieved 60 percent of the forecast revenue for this year. We are therefore confident of meeting our forecast figures," Microlink's chief executive officer Edward Phong told reporters after a ceremony to mark the company's listing here today.
Microlink is an investment holding company which provides information technology (IT) solutions to the global financial services industry.
The company developed the Microlink Banking Solution (MiBS), an end-to-end solution designed to automate core processing functions such as deposits and investments, loans and financing, treasury and trade finance for both conventional and Islamic banking.
According to Phong, Microlink is also focusing on Islamic banking, currently the hottest growth sector in the industry.
He said the company aimed to provide an innovative core of Islamic banking services built on open source technology to ensure optimum usability by the global financial services industry.
In its financial year ended Dec 31, 2005, Microlink recorded RM19.82 million in revenue with the Islamic banking market in the Middle East and North Africa contributing 10 percent.
"This market (the Middle East and North Africa) contributed 15 percent of our revenue in the first quarter of 2006," Phong said.
He said the company has set up a support centre in Kuwait to provide services to customers in the region, covering Saudi Arabia and the other Gulf countries as well as North Africa.
Microlink, he added, has also set up a representative office in Jakarta to expand its Southeast Asian operations.
Phong said new Islamic banks coming up in Malaysia will provide a potential market for the company.
He said the company currently has RHB Bank Bhd, EON Bank Bhd and Bank Muamalat Bhd among its major clients.
Microlink's stock traded at 58 sen with a volume of 5,990 lots during the market opening this morning, which was higher nine sen compared to its issue price at 49 sen.
The company had announced a targeted net revenue of RM23.3 million and net profit of RM6.45 million when launching its prospectus earlier this month.
"Currently, our order book has already achieved 60 percent of the forecast revenue for this year. We are therefore confident of meeting our forecast figures," Microlink's chief executive officer Edward Phong told reporters after a ceremony to mark the company's listing here today.
Microlink is an investment holding company which provides information technology (IT) solutions to the global financial services industry.
The company developed the Microlink Banking Solution (MiBS), an end-to-end solution designed to automate core processing functions such as deposits and investments, loans and financing, treasury and trade finance for both conventional and Islamic banking.
According to Phong, Microlink is also focusing on Islamic banking, currently the hottest growth sector in the industry.
He said the company aimed to provide an innovative core of Islamic banking services built on open source technology to ensure optimum usability by the global financial services industry.
In its financial year ended Dec 31, 2005, Microlink recorded RM19.82 million in revenue with the Islamic banking market in the Middle East and North Africa contributing 10 percent.
"This market (the Middle East and North Africa) contributed 15 percent of our revenue in the first quarter of 2006," Phong said.
He said the company has set up a support centre in Kuwait to provide services to customers in the region, covering Saudi Arabia and the other Gulf countries as well as North Africa.
Microlink, he added, has also set up a representative office in Jakarta to expand its Southeast Asian operations.
Phong said new Islamic banks coming up in Malaysia will provide a potential market for the company.
He said the company currently has RHB Bank Bhd, EON Bank Bhd and Bank Muamalat Bhd among its major clients.
Microlink's stock traded at 58 sen with a volume of 5,990 lots during the market opening this morning, which was higher nine sen compared to its issue price at 49 sen.
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