PETALING JAYA: Scicom MSC Bhd shares rose after posting a good set of first-quarter financial results as well as detailing plans to expand its e-government services regionally. “Scicom business process outsourcing (BPO) segment and the e-government service (EMGS) contract continued to grow, while the earnings before interest, tax, depreciation and amortisation (Ebitda) margin expanded due to economies of scale. It said the company continues to be an attractive e-government service play, and has the expertise to expand the e-government service contracts regionally, especially after the successful start with the Cambodian contract. In terms of the first quarter results announced on Monday, AffinHwang said Scicom’s core net profit of RM10.9mil - an increase of 26.7% year-on-year (yoy) was within expectations. On tax exemption, Scicom’s Multimedia Super Corridor (MSC) status expires on November 2017, but the company’s business income has been 70% tax exempt instead of 100% tax exempt since November 2015.

Source: The Star November 08, 2016 23:19 UTC