At A Glance

At A Glance

  • April 2018

    Financial Times (FT) 1000 High-Growth Companies Asia Pacific 2018

    IFCA has been awarded by FT for recording a 45% revenue growth from 2013-2016. Our innovation and growth has been recognised as one of the driving force of Asian-Pacific economies in the 21st century.

    IFCA Academy

    IFCA has been in the property business for 30 years and we are in a good position to help businesses succeed in this industry. IFCA Academy offers capability-building programmes curated to preserve business knowledge in industries where we are specialised in. Sign up at Click here to go to IFCA Academy

  • August 2018

    IFCA explores into Indo-China international market

    IFCA continues its geographic expansion strategy, by establishing presence in Ho Chi Minh City, Vietnam. The region has good potential as it is a developing economic zone within the greater ASEAN region.

  • December 2017

    30th Anniversary Gala Dinner

    The grand event was held at JW Marriott, and approximately 400 clients, business associates and colleagues attended! We presented cheques to Kiwanis Job Training Centre (KJTC), National Stroke Association of Malaysia (NASAM) and Beautiful Gate - caps for Long-Service Award There were also awards for Long-Term Business Partnership Award, IFCA Integrated Solutions Award and IFCA Long-Service Award. Click here to view the photos.

  • Official launch of IFCA Accelerator Programme (IAP)

    We launched IAP in Google Singapore. IAP is a collaboration with Google Cloud, and we aim to nurture and develop local prop-tech companies by providing fundraising, business networking and mentorship. If you have a prop-tech start-up, submit your application to or

  • November 2017

    Positive financial results for Q3

    IFCA posted 9M17 net profit of RM5.9mil vs.RM4.4mil loss in 9M16, and has been in the black the previous five quarters. For 3Q17, the revenue was up 11.7% on-quarter.

  • October 2017

    30th Anniversary roadshow

    The 30th Anniversary celebration started with a roadshow – KL, Penang, JB and Kuching. Many keywords were shared - AI, BI, Machine Learning, Data-Driven Marketing, Programmatic Ads, Cloud - and if you are keen on finding out more about them, get in touch with us. Anish Malhotra and Dennis Ser from Google Cloud also spoke at our event.

  • September 2017

    Drive for data-driven marketing continues

    We generated leads that exceeded the projected numbers for a project with balance units in Penang. Previously, we generated more than 4,417 leads within 4.5 months for a project in KL. Get in touch with us if you are interested in a data-driven campaign for your project.

  • May 2017

    IFCA 2.0

    IFCA MSC Berhad embarked on a transformational programme known as IFCA 2.0, which aims to strengthen positive growth rates for the next few years. Find out more about it here.



CIMB Research retains Hold for IFCA MSC

The Star Online | 17 Nov 2017

KUALA LUMPUR: CIMB Equities Research is maintaining its earnings per share (EPS) forecasts and target price, based on an unchanged 30% discount to sum-of-parts (SOP) to reflect its small market cap.

It said on Friday that IFCA remains a Hold as it does not see any immediate catalysts for the stock.

“An upside risk is if its China’s business takes off in a big way over the next few quarters. Downside risks are weakness in the domestic market. 27% of its share price is currently backed by net cash,” it said.

Its target price was 42 sen, which is three sen above the last traded price of 39 sen.

Commenting on the results, it said IFCA’s 9M17 revenue rose 17.1% on-year to RM62.9mil, driven by higher export and domestic revenue.

IFCA posted 9M17 net profit of RM5.9mil vs. RM4.4mil loss in 9M16. The company has been in the black the past five quarters. CIMB Research said the 9M17 export revenue rose 21.9% on-year to RM30.6m while 9M17 domestic revenue increased a slower 12.5% to RM32.3mil, an indication of further recovery in the domestic market and continued strong sales in China.

As for 3Q17, the revenue was up 11.7% on-quarter, mainly due to higher hardware sales during the quarter, but 3Q17 pretax profit was down 15.6% on-quarter due to lower profit margin from hardware sales.

Due to weak domestic market conditions, IFCA continued its cost cutting measures over the past few quarters.

“This has helped keep it in the black over the past few quarters but we are of the view that the company needs to focus more on growing its topline instead of cutting costs.

“What is positive is IFCA continues to generate maintenance revenue, which we estimate to be at RM15mil-RM20mil annually,” it said.

At end-October, the company announced it was embarking on a transformational programme, IFCA 2.0.

The areas which IFCA is focusing on include community engagement, digital transformation, mobility, e-commerce, artificial intelligence and business intelligence.

“We are positive on IFCA’s strategy to transform its existing business but are not sure how long it would take for the company to show positive results from IFCA 2.0.

“IFCA’s new upcoming initiatives also include an accelerator programme for the domestic property market, targeting developers and its customers.

“We are hopeful over the next few quarters, IFCA 2.0 could help boost the company’s topline growth. We have not assumed any potential earnings from IFCA 2.0,” CIMB Research said.