EXCEL FORCE MSC BERHAD Annual Report 2018

8 EXCEL FORCE MSC BERHAD (570777-X) ANNUAL REPORT 2018 Dear Shareholders, On behalf of the Board of Directors, it is my pleasure to present the annual report of Excel Force MSC Berhad (“EForce” or “the Group”) for the financial year ended 31 December 2018 (“FYE 2018”). The Group achieved a revenue of RM22.9 million in 2018 and profit after tax stood at RM6.6 million. We remained resilient despite an unprecedented political, economic and business uncertainties encountered last year, due to our strong business fundamentals. We expect 2019 to be as challenging but with greater clarity of the way forward from the government and regulators. The market and overall business sentiment will be positive. The economic outlook ahead is one of optimism, but tempered by global concerns like resolution of US-China trade war and Brexit. In Malaysia, stockbroking industry continues to play a crucial role in contributing to the growth of local capital market. But brokers face intense competition and cost pressure. As a result, they are very cautious in their spending and selective in IT system and infrastructure investment. Industry consolidation through mergers and acquisitions is on-going. We are confident of our service offerings, and our value proposition of being responsive and flexible. We continuously strive to find innovative and practical solutions to solve customers’ issues. Our strong working relationships and proven track record with customers will help us to navigate and overcome the industry challenges ahead. We aim to value add to customers’ business growth through our deep domain knowledge and technological capabilities. In appreciation of our shareholders’ continued support, the Board has declared and paid a single tier interim dividend of 1.5 sen per ordinary share in FYE 2018. It represents 93% dividend payout ratio. The Board wishes to express its appreciation to our valued customers, suppliers, business partners, financiers, government agencies and regulatory authorities for their continued support and confidence in EForce. Thank you and well done to our management and staff for their contribution to the Group. Lastly, my sincere appreciation to my fellow Board members for their commitment, guidance and invaluable advice to enable the Board to properly discharge their fiduciary duties to the best of their ability. Dato’ Dr. Norraesah Binti Haji Mohamad Executive Chairman Chairman’s Statement