News Article -- February 23, 2006

Computer Systems Advisers Sees Major Contribution From Outsourcing Business

(source: Borneo Post)

Computer Systems Advisers (M) Bhd which reported a pre-tax profit of RM19.29 million for the nine months ended Dec 31, 2005 from RM7.87 million previously, saw increasing contribution coming from its outsourcing business.

Managing director, Chuah Tai Eu said the information technology (IT) outsourcing business grew by 31 percent during the period as compared to 21 percent previously and that the company would be able to capture this business further in the years ahead.

The company recorded a revenue of RM295.26 million for the period under review as against RM291.57 million, and contributions from its other core business included IT infrastructure systems and solutions at 53 per cent and customer services and support at 15 per cent.

"We are also pleased to note that our recurring income is now more than our operating expenses," he told a press conference in announcing the company's performance here yesterday. Chuah said its recurring income accounted for about 60 percent of revenue and its stable clientele, includes Maybank, Motorola and DuPont.

During the April - December period, its revenue saw a marked increase in contribution by the banking, finance and insurance sectors at 44 per cent from 37 per cent previously while that from manufacturing grew 24 per cent as compared to 19 per cent. - Bernama