News

Scicom to develop tourism management system for Cambodia

07 Feb 2018 (Wed)

KUALA LUMPUR (Feb 7): Scicom (MSC) Bhd has bagged a contract to develop, implement, operate and maintain an integrated Cambodia Tourism Management System for the country's Ministry of Tourism.

In a stock exchange filing today, the company said the project period is five years, with an option to extend for two more years.

"The anticipated revenue from this contract is predicted on the number of air travellers to and from the Kingdom of Cambodia," it said, but did not indicate the estimated value of the project.

It expects the project to contribute positively to the earnings and net assets per share of the company going forward.

Separately, the company announced a 22% fall in its net profit for the second financial quarter ended Dec 31, 2017 (2QFY18) to RM9.41 million, from RM12.11 million a year earlier, amid low revenue contribution from its outsourcing and education segments.

Revenue for 2QFY18 declined 17% to RM43.01 million from RM51.56 million in 2QFY17.

The company also saw a reversal of foreign exchange gain recognised in the previous financial quarters, compared to a gain in the preceding year's corresponding quarter.

The company proposed an interim dividend of 2 sen per share for the financial year ending June 30, 2018.

For the half-year period, cumulative net profit fell 16% year-on-year to RM20.38 million from RM24.14 million, while revenue declined 14% to RM88.85 million from RM103.61 million.

Scicom shares closed unchanged at RM1.59 today, giving it a market capitalisation of RM565.17 million.

Ahmad Naqib Idris / theedgemarkets.com | February 07, 2018 19:26 pm +08