eBworx Bhd Performs Well According to BAC Report14 Nov 2011 • by Natalie Aster
LONDON – FY 2010 was a success for eBworx. Higher revenues and lower operating costs led to improved margins and net income. In FY 2009 revenue and net income amounted to MYR 29.8 M and MYR 2 M respectively, while in FY 2010 they reached MYR 32.9 M (10.4% up) and MYR 4.8 M (140% up).
During the year, eBworx continued its geographical expansion with following steps:
- Phase 2 of Regional Retail Credit System for CIMB Bank Thai (Thailand)
- Mobile Banking (iPhone and Blackberry support) in OCBC NISP (Indonesia)
- Rebranding and launch of internet banking system for RHB Bank (Singapore)
eBworx was also the first to launch iPad banking solution in Malaysia in 2010, supplying therefore whole South East Asian region with mobile banking application.
Last quarterly results also look bright. In Q2 2011 revenue and net income equaled MYR 12.9 M and MYR 3 M respectively, which is 17.3% and 15.4% more than in Q1 2011, and 51.8% and 200% more than in Q2 2010.
Founded in 1998 and headquartered in Selangor (Malaysia), eBworx engages in development of software solutions for financial institutions. The company has 4 wholly-owned subsidiaries and operates in South East Asian region. Since 2003 it trades at MESDAQ.
Other details on eBworx’ business, subsidiaries, rivals and financial statements can be found in the report “eBworx Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: eBworx Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Nov, 2011
Comprehensive overview of the Malaysia Software and Technology Services Industry and its competitive forces can be found in the report “Malaysia Software and Technology Services Industry Comparative Analysis and Companies Ranking”
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