EXCEL FORCE MSC BERHAD Annual Report 2018

9 EXCEL FORCE MSC BERHAD (570777-X) ANNUAL REPORT 2018 Wang Kuen-Chung @ Jeff Wang Founder, Managing Director This Statement contains the Management discussion and analysis of the business operation and performance of the Group for the financial year ended 31 December 2018. It should be read in conjunction with the audited financial statements of the Group as set out in this Annual Report. Management Discussion And Analysis BUSINESS OVERVIEW EForce is a leading information technology solution provider involved in the development, provision and maintenance of application and system solutions for the financial services industry, specifically the stockbroking companies and investment banks. EForce organises its business activities into three (3) segments. They are: (a) Application Solutions (“AS”) - Sales of software applications and product on outright purchase basis. (b) Maintenance Services (“MS”) - Provision of maintenance services. (c) Application Services Provider (“ASP”) - Provision of application services on monthly recurring fixed and variable charges. The Group’s products include CyberBroker Front Office (for client-server, web and mobile-based stock trading), CyberBroker Middle Office, CyberBroker Back Office, StockBanking System and Fundamental Analysis System. EForce provides reliable and stable solutions to meet the mission critical environment that customers operate in. Over the years, EForce has earned a solid reputation in consistently meeting customers’ expectations, and in some instances, going beyond what’s duty bound. The Group has a good understanding of customers’ business needs and strives to response quickly and always with good quality performance. REVIEW OF FINANCIAL RESULTS The Group achieved revenue of RM22.9 million, mainly derived from ASP segment. It is an increase of RM21,000 compared to the previous financial year. Profit before tax (PBT) was RM7.9 million, lower by RM177,000 or 2% compared to last financial year, mainly due to recognition of one-off project cost and partly set off by gain on disposal of office premise and higher interest income. Profit after tax (PAT) for FYE 2018 stood at RM6.6 million, an increase of RM334,000 or 5.3%compared to same corresponding period last year. The increase in PAT is attributed to lower taxation expenses.