DailySpaceIFCA MSC Berhad
0023 · ACE Market创业板（ACE Market） · annual reports 2023 to 2025, 275 entries read2023 至 2025 年报，共读出 275 条
The company这家公司
IFCA MSC Berhad develops and provides business software solutions for the property, construction and hospitality industries.IFCA MSC Berhad 致力于为房地产业、建筑业及酒店业开发并提供商业软件解决方案。
Sources (1)出处（1）
Since 1987, IFCA and its subsidiaries has focused on developing and providing business software solutions for the property, construction and hospitality industries.
In 2025, revenue from Malaysia was 62.7% (RM56.8 million), China was 24.8% (RM22.4 million), Indonesia was 11.4% (RM10.3 million), and international markets were 1.1% (RM1.0 million).2025 年，马来西亚市场占营业额的 62.7%（RM56.8 million），中国占 24.8%（RM22.4 million），印度尼西亚占 11.4%（RM10.3 million），其他国际市场占 1.1%（RM1.0 million）。
Sources (6)出处（6）
Overall, domestic revenue recorded a decrease of 17.7% from RM69.0 million to RM56.8 million while overseas revenue recorded a decrease of 8.6% from RM37.0 million to RM33.8 million, partially due to the depreciation of Chinese Yuan and Rupiah against the Ringgit.
Revenue contributions were led by Malaysia at 62.7%, followed by China at 24.8%, Indonesia at 11.4%, and International markets at 1.1%.
Geographical market Malaysia 21,957,223 834,370 33,984,939 56,776,532
China 10,098,185 - 12,321,019 22,419,204
Indonesia 5,164,240 20,400 5,164,118 10,348,758
Others 972,740 - 45,479 1,018,219
Annual recurring income was RM45.8 million in 2024 and grew to RM48.3 million in 2025 as the group converted its core business into a SaaS pricing model.随着集团将核心业务转型为 SaaS 计费模式，年度经常性收入从 2024 年的 RM45.8 million 增长至 2025 年的 RM48.3 million。
Sources (2)出处（2）
The Group’s annual recurring income grew to RM45.8 million, driven by continued market expansion and increasing demand for our solutions.
In FY2025, the Group’s annual recurring income grew to RM48.3 million, underpinned by IFCA’s strong discipline in converting its core business into a highly recurring SaaS pricing model, and the ongoing market expansion initiatives.
IFCA Software (Asia) Sdn Bhd held 33.11% of shares (198,604,643 shares), while Executive Chairman Yong Keang Cheun held 2.30% directly (13,821,945 shares) and 35.25% indirectly, and Executive Deputy Chairman Yong Kian Keong held 2.14% directly (12,840,365 shares) and 35.42% indirectly at the end of 2025. Yong Keang Cheun and Yong Kian Keong are brothers.截至 2025 年底，IFCA Software (Asia) Sdn Bhd 持有 33.11% 股份（198,604,643 股）；执行主席 Yong Keang Cheun 直接持有 2.30%（13,821,945 股）、间接持有 35.25%；执行副主席 Yong Kian Keong 直接持有 2.14%（12,840,365 股）、间接持有 35.42%。Yong Keang Cheun 与 Yong Kian Keong 为兄弟关系。
Sources (4)出处（4）
He is the brother of Mr. Yong Keang Cheun, the Executive Chairman and is a substantial shareholder of the Company.
IFCA Software (Asia) Sdn Bhd 198,604,643 33.11 - -
Yong Keang Cheun 13,821,945 2.30 *211,445,008 35.25
Yong Kian Keong 12,840,365 2.14 #212,426,588 35.42
The Chief Executive Officer position was vacant from 1 October 2019, with Yong Kian Keong as acting Chief Executive Officer from 1 March 2022. On 28 February 2025 he resigned from that post and Executive Chairman Yong Keang Cheun was appointed Chief Executive Officer.行政总裁一职自 2019 年 10 月 1 日起悬空，Yong Kian Keong 自 2022 年 3 月 1 日起担任代行政总裁。2025 年 2 月 28 日他辞去该职，执行主席 Yong Keang Cheun 受委为行政总裁。
Sources (4)出处（4）
The Chief Executive Officer (“CEO”) position has remained vacant since 1 October 2019.
On 28 February 2025, he was appointed as the Chief Executive Officer to oversee the Group’s day to day operations and business development.
On 28 February 2025, he resigned as the Acting Chief Executive Officer which is the position he has held since 1 March 2022.
On 28 February 2025, Mr. Yong Keang Cheun was appointed as the CEO to discharge the roles and responsibilities of the CEO after the resignation of Mr. Yong Kian Keong as the acting CEO.
Revenue by geography, 20252025 年各地区营业额占比
Sources (1)出处（1）
Revenue contributions were led by Malaysia at 62.7%, followed by China at 24.8%, Indonesia at 11.4%, and International markets at 1.1%.
Major events大事记
Sources (1)出处（1）
In FY2023, IFCA is selected as the official automatic access representative for Housing Integrated Management System (HIMS), which serves as a one-stop centre local management platform for the licensing of private housing developers, advertising and sales permits
Sources (2)出处（2）
During the year, IFCA has introduced a new Capital Allocation Framework to replace its previous dividend policy, focusing on long-term shareholder value.
While we aim to remain in net cash position over the long term, we plan to retain not more than RM70 million in cash on the balance sheet for the flexibility to take advantage of unique shareholder value enhancing opportunities such as business expansion and potential merger and acquisition.
Sources (1)出处（1）
During FY2024, IFCA entered a strategic partnership with Finology Group on the integration of Finology’s digital lending solution namely Loanplus Home directly into IFCA’s flagship PropertyX platform.
Sources (3)出处（3）
On 28 February 2025, he was appointed as the Chief Executive Officer to oversee the Group’s day to day operations and business development.
On 28 February 2025, he resigned as the Acting Chief Executive Officer which is the position he has held since 1 March 2022.
On 28 February 2025, Mr. Yong Keang Cheun was appointed as the CEO to discharge the roles and responsibilities of the CEO after the resignation of Mr. Yong Kian Keong as the acting CEO.
Sources (1)出处（1）
On 23 July 2025, the Company had incorporated a wholly-owned subsidiary, AIX Technology Sdn. Bhd. with an issued and paid-up share capital of RM500,000 comprising 500,000 units of ordinary shares.
Revenue, profit and cash balances营业额、盈利与现金结余
Total assets and total equity总资产与总权益
20232023 年
Apart from finance leases, the group maintained zero bank borrowings. Approximately RM2.0 million was invested in R&D activities during FY2023, and deferred development costs stood at RM16,572,588 at year end. A first and final single tier dividend of 0.5 sen per share amounting to RM3.1 million was recommended, and 3,086,100 shares were held as treasury shares.除融资租赁外，集团保持无银行借款。2023 财年投入约 RM2.0 million 用于研发活动，年底递延开发成本为 RM16,572,588。公司建议派发每股 0.5 仙、总额 RM3.1 million 的首期兼终期单层股息，并持有 3,086,100 股库存股。
Sources (5)出处（5）
Apart from finance leases, the Group has no borrowing and continued to generate healthy cash flows.
To reward shareholder’s loyalty, the directors have recommended a first and final single tier dividend of 0.5 sen per ordinary share in respect of FY2023 amounting to RM3.1 million, subject to shareholders’ approval at the forthcoming Annual General Meeting.
In FY2023, the Group invested approximately RM2.0 million in R&D activities to develop the remaining parts of mobile internet solutions, while continued to work on feature enhancement on the existing solutions.
As at 31 December 2023, a total of 3,086,100 shares were held as treasury shares.
As at 31 December 2023, the Group’s carrying amount of the deferred development costs amounted to RM 16,572,588.
20242024 年
The group maintained zero borrowings. Approximately RM4.7 million was invested in R&D activities. An interim dividend of 1.5 sen per share amounting to RM9.0 million was paid in December 2024, a final dividend of 1 sen per share was recommended, and 2,230,000 shares were bought back from the open market, bringing treasury shares to 5,316,100.集团继续维持无借款状态。投入约 RM4.7 million 用于研发活动。2024 年 12 月派发了每股 1.5 仙、总额 RM9.0 million 的中期股息，并建议派发每股 1 仙的终期股息。此外在公开市场回购 2,230,000 股，使库存股增至 5,316,100 股。
Sources (6)出处（6）
Furthermore, the Group continues to maintain zero borrowings, underscoring its disciplined and sound financial strategy.
To reward shareholder’s loyalty, an interim single-tier dividend of 1.5 sen per ordinary share for FY2024, amounting to RM9.0 million, was declared and approved in November 2024, and subsequently paid in December 2024.
In FY2024, the Group invested approximately RM4.7 million in R&D activities to develop the remaining parts of mobile internet solutions, while continuing to work on feature enhancements on our existing solutions.
During the financial year ended 31 December 2024, the Company bought back 2,230,000 shares from the open market as follows:
As at 31 December 2024, a total of 5,316,100 shares were held as treasury shares.
On 28 February 2025, the Directors recommend the payment of a final single-tier dividend of 1 sen per ordinary share in respect of the financial year ended 31 December 2024 which is subject to the approval of the shareholders at the forthcoming Annual General Meeting.
20252025 年
The group remained debt-free, while cash reserves decreased from RM76.7 million to RM70.0 million following a dividend payout of RM6.0 million and share repurchases of RM1.0 million. Approximately RM5.1 million was invested in R&D activities. A new office building was acquired in Indonesia, and a wholly-owned subsidiary AIX Technology Sdn. Bhd. was incorporated with share capital of RM500,000. 3,156,800 shares were bought back, bringing treasury shares to 8,472,900, and no dividend was proposed.集团保持无债务状态，但在支付 RM6.0 million 股息及 RM1.0 million 股票回购后，现金储备从 RM76.7 million 降至 RM70.0 million。研发投入约 RM5.1 million。印尼团队购置了一栋新办公楼，并成立了发行股本 RM500,000 的全资子公司 AIX Technology Sdn. Bhd.。年内回购 3,156,800 股，库存股达到 8,472,900 股，本年度未建议派息。
Sources (8)出处（8）
The Group’s cash reserves declined by 9% from RM76.7 million to RM70.0 million, following a dividend payout of RM6.0 million and share repurchase of RM1.0 million.
As cash levels are at the threshold under the approved capital allocation framework, no dividend is proposed for FY2025.
Nevertheless, the Group remains debt-free, reflecting prudent financial management.
In FY2025, the Group invested approximately RM5.1 million in R&D activities to develop AI capabilities, an Indonesia version of cloud-based mobile internet solutions and the remaining parts of mobile internet solutions, while continuing to work on feature enhancements on the existing solutions.
During the financial year ended 31 December 2025, the Company bought back 3,156,800 shares from the open market as follows:
As at 31 December 2025, a total of 8,472,900 shares were held as treasury shares.
During FY2025, Indonesia acquired a new office building to accommodate its growing headcount.
On 23 July 2025, the Company had incorporated a wholly-owned subsidiary, AIX Technology Sdn. Bhd. with an issued and paid-up share capital of RM500,000 comprising 500,000 units of ordinary shares.
Across the three years三年合看
In 2024, the group adopted a new capital allocation framework to retain not more than RM70 million in cash on the balance sheet for business expansion and potential acquisitions, while distributing excess cash as dividends. When cash levels reached the RM70 million threshold at end 2025, no dividend was proposed under the framework.2024 年，集团通过了新的资本分配框架，计划在资产负债表上保留不超过 RM70 million 现金，用于业务扩张和潜在收购，将多余现金通过股息分发给股东。随着 2025 年底现金水平触及 RM70 million 的门槛，根据该框架未建议派发股息。
Sources (5)出处（5）
During the year, IFCA has introduced a new Capital Allocation Framework to replace its previous dividend policy, focusing on long-term shareholder value.
While we aim to remain in net cash position over the long term, we plan to retain not more than RM70 million in cash on the balance sheet for the flexibility to take advantage of unique shareholder value enhancing opportunities such as business expansion and potential merger and acquisition.
The Board will endeavor to distribute the excess cash to shareholders primarily in the form of cash dividends, subject to solvency test.
If the cash balance falls below RM70 million due to major value enhancing opportunity, the Board shall have the liberty to temporarily adjust the dividend payout to rebuild the cash balance, if necessary.
As cash levels are at the threshold under the approved capital allocation framework, no dividend is proposed for FY2025.
Still to be spent尚未支出的承诺与资金
At 31 December 2025, RM6,257,460 was tied up in software development that had not yet commenced commercial production, compared to RM6,865,089 in 2024 and RM3,224,002 in 2023. The group continues to hold RM70.0 million in cash reserves for business expansion and potential acquisitions.截至 2025 年 12 月 31 日，尚有 RM6,257,460 投入于尚未投入商业化生产的软件开发中，而 2024 年为 RM6,865,089，2023 年为 RM3,224,002。集团继续保持 RM70.0 million 现金储备，用于业务扩张和潜在收购。
Sources (5)出处（5）
At 31 December 2023, RM3,224,002 (2022: RM6,609,135) were incurred on the development of software that has not commenced commercial production yet, hence it is not subject to amortisation.
At 31 December 2024, RM6,865,089 (2023: RM3,224,002) were incurred on the development of software that has not commenced commercial production yet, hence it is not subject to amortisation.
At 31 December 2025, RM6,257,460 (2024: RM6,865,089) were incurred on the development of software that has not commenced commercial production yet, hence it is not subject to amortisation.
The Group’s cash reserves declined by 9% from RM76.7 million to RM70.0 million, following a dividend payout of RM6.0 million and share repurchase of RM1.0 million.
While IFCA aims to remain in net cash position over the long term, IFCA plans to retain not more than RM70 million in cash on the balance sheet for the flexibility to take advantage of unique shareholder value enhancing opportunities such as business expansion and potential merger and acquisition.
Four years of figures四年数字
Group figures, in RM thousand (×1,000), as printed in the statements.集团数字，单位千令吉（×1,000），照财务报表所印。
| Group集团 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | RM'000千令吉 | |
| Revenue营业额 | 75,476 | 78,092 | 106,045 | 90,563 |
| Profit before taxation税前盈利 | (2,694) | 5,068 | 26,462 | 9,088 |
| Profit after taxation税后盈利 | (4,197) | 2,668 | 19,053 | 6,450 |
| Total assets总资产 | 148,825 | 155,801 | 165,516 | 155,300 |
| Total liabilities总负债 | 31,329 | 34,836 | 41,396 | 34,044 |
| Total equity总权益 | 117,496 | 120,964 | 124,120 | 121,256 |
| Fixed deposits, cash and bank balances定期存款、现金及银行结余 | 72,809 | 78,834 | 76,731 | 70,013 |
On a computer, hover over a figure for the report and page it is printed on.在电脑上把鼠标移到数字上，可看到它印在哪份年报的哪一页。
Said and done说过的与做到的
| What the reports said年报说要做的 | What later reports show之后年报显示的 | Status状态 |
|---|---|---|
| To complete API integration and guidelines for government E-invoice implementation starting 1 August 2024为应对政府自 2024 年 8 月 1 日起的电子发票要求，完成 API 接口集成与相关合规指南 | Over 200 customers went live with IFCA E-Invoice by 2024 report, increasing to over 400 customers by 2025 report.到 2024 年报时已有超过 200 家客户上线使用 IFCA 电子发票，到 2025 年报时增至 400 多家。Sources (4)出处（4）In line with the Malaysian government’s implementation of E-invoice starting from 1st August 2024, the R&D team are in the midst of working on Application Programming Interface (API) integration via IFCA solutions and the related compliance guidelines. We anticipate that the implementation of E-invoice from 1st August 2024 will bring a positive impact to the Group’s order book and revenue in FY2024. As at now, over 200 customers successfully implemented and went live with IFCA E-Invoice. To date, over 400 customers have successfully implemented and gone live with IFCA E-Invoice, which will contribute additional recurring revenue to the Group. | Carried out已执行 |
| To complete R&D and introduce mobile internet cloud solutions in the local market完成研发并在本地市场推出移动互联网云端解决方案 | X-series cloud-based solutions were launched to over 250 customers in 2024, followed by AI-enhanced features across product modules in 2025.X 系列云端解决方案于 2024 年面向 250 多家客户正式推出，2025 年进一步推广涵盖各模块的 AI 增强功能。Sources (4)出处（4）In response to the escalating demand for cloud technology in the local market, we anticipate introducing the mobile internet solutions in the near future. In FY2023, the Group invested approximately RM2.0 million in R&D activities to develop the remaining parts of mobile internet solutions, while continued to work on feature enhancement on the existing solutions. The X-series cloud-based solutions were officially launched and introduced to a base of over 250 existing customers. In addition, the Group is rolling out a comprehensive suite of AI enhanced features across IFCA’s entire portfolio of products and modules. | Launched已推出 |
| To extend reach in the China market to over 150 major cities through a local partner program通过本地合作伙伴计划将中国市场业务推向 150 多个主要城市 | The partner program remained active across 150 major cities in 2024 and resources were deployed in 150 targeted cities in 2025.合作伙伴计划在 2024 年保持活跃并覆盖 150 多个主要城市，2025 年继续在 150 个目标城市配置资源。Sources (3)出处（3）IFCA is optimistic in extending its reach in the China market to over 150 major cities that remains untapped by working with local partners via a partner program. Meanwhile, the Group’s partner program remains active, with ongoing collaboration with local partners to extend our reach across more than 150 major cities. The China team continued to pursue growth opportunities proactively, deploying resources across 150 targeted cities to promote the Group’s next-generation products and services. | Still in progress推进中 |
| A dedicated project team in Indonesia, and significant contributions from the Indonesian market expected in the near future在印尼设立专属项目团队，并预计印尼市场在不久的将来带来显著贡献 | A new office building was acquired in Indonesia in 2025 for growing headcount, while segment revenue changed from RM11.7 million in 2024 to RM10.3 million in 2025.2025 年印尼团队购置了新办公楼以应对人员增长，而分部营业额由 2024 年的 RM11.7 million 变为 2025 年的 RM10.3 million。Sources (6)出处（6）In tandem, the Group is establishing a dedicated project and technical team in Indonesia to support its cloud-based offerings, with knowledge transfer facilitated by the technical team in Malaysia. With upgrade opportunities among current clients, we anticipate that there will be significant contributions from the Indonesian market in the near future. Indonesia 5,764,023 1,816 5,942,831 11,708,670 In tandem, the Group is establishing a dedicated project and technical team in Indonesia to support its cloud-based offerings, with knowledge transfer facilitated by the technical team in Malaysia. During FY2025, Indonesia acquired a new office building to accommodate its growing headcount. Indonesia 5,164,240 20,400 5,164,118 10,348,758 | Team being set up; Indonesia revenue lower in 2025团队设立中；2025 年印尼营业额下降 |
| Recommended a final single-tier dividend of 1 sen per share for FY2024建议派发 2024 财年每股 1 仙的终期单层股息 | Paid on 26 June 2025, totalling RM6,016,748.于 2025 年 6 月 26 日派发，共计 RM6,016,748。Sources (2)出处（2）On 28 February 2025, the Directors recommend the payment of a final single-tier dividend of 1 sen per ordinary share in respect of the financial year ended 31 December 2024 which is subject to the approval of the shareholders at the forthcoming Annual General Meeting. A final single-tier dividend of 1.0 sen per ordinary share in respect of the financial year ended 31 December 2024 paid on 26 June 2025 6,016,748 | Paid已派发 |
What the reports leave open年报留下待看的事
- Whether the SaaS transformation strategy will convert short-term revenue and profit reductions into higher recurring revenue over time.SaaS 业务转型能否在未来将平缓的短期收入和利润化为更高的经常性收入。
Sources (2)出处（2）
This represents a decrease of RM15.5 million or approximately 14.6% in the overall segment, primarily driven by timing differences arising from our SaaS transformation strategy, which has resulted in lower revenue and profit recognition in the short term.
In FY2025, the Group’s annual recurring income grew to RM48.3 million, underpinned by IFCA’s strong discipline in converting its core business into a highly recurring SaaS pricing model, and the ongoing market expansion initiatives.
- Whether cash reserves remain around the RM70.0 million threshold or rise enough to resume dividend payments under the capital allocation framework.现金储备是否能维持在 RM70.0 million 的门槛之上，以便根据资本分配框架恢复派息。
Sources (2)出处（2）
As cash levels are at the threshold under the approved capital allocation framework, no dividend is proposed for FY2025.
While IFCA aims to remain in net cash position over the long term, IFCA plans to retain not more than RM70 million in cash on the balance sheet for the flexibility to take advantage of unique shareholder value enhancing opportunities such as business expansion and potential merger and acquisition.
- Whether the AI-enhanced features across product modules will generate new high-margin revenue streams as anticipated.跨产品模块的 AI 增强功能能否如预料般带来全新的高利润率收入来源。
Sources (2)出处（2）
In addition, the Group is rolling out a comprehensive suite of AI enhanced features across IFCA’s entire portfolio of products and modules.
The Group anticipates that these enhancements will not only drive increased user engagement and retention but also open new high-margin revenue streams through tiered AI-driven service models.
- Whether a permanent external Chief Executive Officer will be appointed to replace Executive Chairman Yong Keang Cheun in managing day-to-day operations.公司是否会选聘到合适的常设首席执行员，以接替兼任该职的执行主席 Yong Keang Cheun 管理日常运营。
Sources (2)出处（2）
On 28 February 2025, Mr. Yong Keang Cheun was appointed as the CEO to discharge the roles and responsibilities of the CEO after the resignation of Mr. Yong Kian Keong as the acting CEO.
Therefore, the Board is always on the lookout for suitably qualified candidate to fill the position of CEO.
Facts as printed in the company's annual reports, with the page of each; no rating and no advice. Built 2026-10-12.内容为公司年报所印的事实，并注明页码；不评级，不构成投资建议。生成日期 2026-10-12。