Latest news with #AutoCount
The Sun
27-05-2025
- Business
- The Sun
AutoCount achieves profit of RM13.65m in Q1 FY25 as phase 3 of e-Invoicing approaches
KUALA LUMPUR: Autocount Dotcom Bhd, a developer and distributor of financial management software, recorded a net profit of RM13.65 million for the first quarter (Q1) ended March 31, 2025 (FY25), surging 235.4% year-on-year from RM4.07 million previously, underscoring the strong demand for its e-invoicing solutions. The profitability was supported by the group's quarterly revenue of RM25.55 million, reflecting an increase of 86.9% compared to RM13.7 million in the same quarter last year. This performance was primarily driven by increased adoption of AutoCount's e-invoicing module, aligning with the government's ongoing efforts toward digitalisation and compliance. AutoCount also reported a strong operating cash flow of RM17.32 million in the quarter, demonstrating the group's financial resilience and solid capability to fund ongoing growth initiatives. Net profit margin improved significantly to 53.4%, benefiting from a favourable cost structure that includes largely fixed expenses such as staff-related costs, which do not increase proportionally with revenue, enhancing the operating leverage as revenue expands. Managing director YT Choo said the company's record performance in Q1 FY25 highlights its strategic success in capitalising on the growing e-invoicing market. 'Our scalable cost structure has enabled us to effectively convert increased revenues into higher profitability, and our strong cash flow positions us well to sustain this growth trajectory,' he said. AutoCount remains optimistic about future performance driven by the forthcoming implementation phases of Malaysia's e-invoicing mandate. Phase 3, affecting businesses with annual revenues between RM500,000 and RM25 million, will begin on July 1, 2025, followed by Phase 4 on January 1, 2026, which covers businesses with annual revenues between RM150,000 and RM500,000. Additionally, the recently introduced AutoCount OneSales PalmPOS, a mobile POS solution designed specifically for micro-SMEs, is expected to further enhance growth opportunities by helping small businesses adopt digital financial practices seamlessly. 'With a clear market demand, robust solutions, and supportive regulatory frameworks, we anticipate continued strong double-digit growth in both our top and bottom lines for FY2025,' Choo said. 'Our unwavering commitment to innovation and supporting businesses through their digital transformation ensures our continued market leadership.'
BusinessToday
27-05-2025
- Business
- BusinessToday
E-Invoicing Boom Lifts AutoCount To Record RM13.7 Million Profit In Q1
The adoption of Malaysia's e-invoicing initiative has fuelled a record-breaking quarter for AutoCount Dotcom Berhad, which posted its highest-ever core profit after tax of RM13.65 million for the first quarter ended March 31, 2025, (Q1 FY2025), a 235.4% jump from RM4.07 million in the same period last year. The company also recorded its highest-ever quarterly revenue of RM25.55 million, up 86.9% year-on-year, largely driven by surging demand for its e-invoicing module in line with the government's digitalisation mandate. Operating cash flow stood at RM17.32 million, while net profit margin expanded to 53.4%, supported by fixed operating costs that did not rise in tandem with revenue. Managing Director YT Choo said, 'Our record performance in Q1 FY2025 highlights our strategic success in capitalising on the growing e-invoicing market.' The outlook remains upbeat as Phase 3 of Malaysia's e-invoicing rollout—targeting businesses with annual revenues between RM500,000 and RM25 million—takes effect on 1 July 2025, followed by Phase 4 on Jan 1, 2026, which includes smaller businesses earning between RM150,000 and RM500,000 annually. AutoCount's latest product, OneSales PalmPOS, a mobile point-of-sale solution tailored for micro-SMEs, is expected to further support uptake among small businesses transitioning to digital finance systems. Related
The Sun
21-05-2025
- Business
- The Sun
Autocount collaborates strategically with IAB LCCI to pioneer cloud accounting certification in Asia
KUALA LUMPUR: Autocount Dotcom Bhd, a developer and distributor of financial management software, launched the IAB LCCI Computerised Accounting (AutoCount Cloud Accounting) Qualification. This qualification, developed in collaboration with IAB LCCI Ltd, will equip finance professionals across Asia with essential cloud accounting skills aligned with current industry needs. Held at the AutoCount Training Centre, the launch event celebrated the strategic partnership between AutoCount and IAB LCCI and showcased the transformative impact this certification will have on accounting education throughout the region. Designed as Asia's first cloud accounting certification program, the initiative addresses the rising demand for digitally skilled accounting professionals. AutoCount managing director Choo Yan Tiee emphasised the significance of this initiative. 'We are proud to collaborate with IAB LCCI to introduce a future-focused certification that empowers learners with practical, industry-relevant skills. 'The digitalisation of accounting practices continues to accelerate, and AutoCount remains committed to equipping professionals with the competencies required to thrive in this evolving landscape. 'This certification is more than just a qualification; it is a gateway for finance professionals to embrace digital transformation confidently,' he said in a statement. IAB LCCI and IAB Group CEO Sarah Palmer highlighted the strategic importance of the collaboration. 'The IAB Group is honoured to partner with AutoCount, combining our global expertise in qualifications with their leading-edge software solutions. 'LCCI has been providing internationally recognised qualifications for over 120 years, and this partnership reinforces our commitment to advancing the accounting profession by preparing finance professionals with the skills needed for the digital age,' she said. AutoCount's education department will support the new certification by offering robust learning materials, an interactive self-learning portal, and a cloud-based examination platform. The department also proactively engages with educational institutions, trains educators, and supports curriculum enhancements aligned with industry evolution. Moreover, AutoCount actively participates in educational activities such as accounting competitions and industry talks to ignite students' interest in the profession. 'By equipping finance professionals with cloud accounting skills, we are addressing the current industry demands and fostering greater efficiency and competitiveness among businesses in the region,' Sarah added. The launch of the IAB LCCI–AutoCount Cloud Accounting Certification marks a significant milestone in the digitalisation of accounting education, underscoring both AutoCount and IAB LCCI's dedication to developing future-ready professionals.
The Sun
13-05-2025
- Business
- The Sun
Globally recognised accounting degree at UTAR
ACCOUNTING is more than just numbers - it's the language of business, and those fluent in it are vital across all industries. At Universiti Tunku Abdul Rahman (UTAR), the Faculty of Accountancy and Management (FAM) delivers an academic experience that bridges theory and practice, shaping future-ready graduates who thrive in today's dynamic job market. The UTAR four-year Bachelor of Accounting (Honours) programme is globally recognised by key professional bodies, including the Malaysian Institute of Accountants (MIA), the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA), CPA Australia, the Institute of Chartered Accountants in England and Wales (ICAEW), the Malaysian Institute of Certified Public Accountants (MICPA) and the Chartered Tax Institute of Malaysia (CTIM). With such strong professional recognition, students gain a direct pathway to certification and global career opportunities. 'UTAR has been a prominent university in providing accounting education with MIA recognition under the First Schedule of the Accountants Act 1967. This allows graduates to become Chartered Accountants after three years of work experience, without additional examinations. Our programme integrates theory, industry exposure, and soft skills development - ensuring students are well-equipped from day one,' said Zufara Arneeda Zulfakar, Head of the Department of Accountancy,UTAR. The learning experience goes far beyond traditional lectures, to tutorials built around real-world case studies and hands-on learning using accounting software such as AutoCount, Audit Express, and Excel. Field trips, industry competitions, and guest lectures from professionals based at leading firms as PwC, Deloitte, KPMG, EY, BDO, Baker Tilly, Crowe, and many others bring relevance and energy into the classroom. Joshua Yap Jan Chen, who initially intended to take up psychology, instead chose accounting at UTAR said: 'The programme has been a great mix of theory and practical learning. We often receive insights from industry professionals, and our lecturers are always ready to guide us. 'I've already passed two ACCA papers, and I'm working towards joining one of the Big Four firms in a tax or audit role.' Internships are a key part of the UTAR experience, and all students complete a six-month placement before graduation. Around 80 percent of accounting graduates secure employment within six months of completing the programme. To explore more on the programme or begin your application journey, visit or apply directly at Visit UTAR Open Day on 24-25 May and 31 May -1 June 2025 from 9am to 4.30pm at both Kampar and Sungai Long campuses. For more information, visit or call 05-468 8888 (Kampar Campus), 03- 9086 0288 (Sungai Long Campus).
The Sun
13-05-2025
- Business
- The Sun
Globally recognised accounting degree
ACCOUNTING is more than just numbers - it's the language of business, and those fluent in it are vital across all industries. At Universiti Tunku Abdul Rahman (UTAR), the Faculty of Accountancy and Management (FAM) delivers an academic experience that bridges theory and practice, shaping future-ready graduates who thrive in today's dynamic job market. The UTAR four-year Bachelor of Accounting (Honours) programme is globally recognised by key professional bodies, including the Malaysian Institute of Accountants (MIA), the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA), CPA Australia, the Institute of Chartered Accountants in England and Wales (ICAEW), the Malaysian Institute of Certified Public Accountants (MICPA) and the Chartered Tax Institute of Malaysia (CTIM). With such strong professional recognition, students gain a direct pathway to certification and global career opportunities. 'UTAR has been a prominent university in providing accounting education with MIA recognition under the First Schedule of the Accountants Act 1967. This allows graduates to become Chartered Accountants after three years of work experience, without additional examinations. Our programme integrates theory, industry exposure, and soft skills development - ensuring students are well-equipped from day one,' said Zufara Arneeda Zulfakar, Head of the Department of Accountancy,UTAR. The learning experience goes far beyond traditional lectures, to tutorials built around real-world case studies and hands-on learning using accounting software such as AutoCount, Audit Express, and Excel. Field trips, industry competitions, and guest lectures from professionals based at leading firms as PwC, Deloitte, KPMG, EY, BDO, Baker Tilly, Crowe, and many others bring relevance and energy into the classroom. Joshua Yap Jan Chen, who initially intended to take up psychology, instead chose accounting at UTAR said: 'The programme has been a great mix of theory and practical learning. We often receive insights from industry professionals, and our lecturers are always ready to guide us. 'I've already passed two ACCA papers, and I'm working towards joining one of the Big Four firms in a tax or audit role.' Internships are a key part of the UTAR experience, and all students complete a six-month placement before graduation. Around 80 percent of accounting graduates secure employment within six months of completing the programme. To explore more on the programme or begin your application journey, visit or apply directly at Visit UTAR Open Day on 24-25 May and 31 May -1 June 2025 from 9am to 4.30pm at both Kampar and Sungai Long campuses. For more information, visit or call 05-468 8888 (Kampar Campus), 03- 9086 0288 (Sungai Long Campus).
