Latest news with #RM13.65
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
879 youths in Sarawak benefit from TUBE entrepreneurial initiative
KUCHING: A total of 879 youths in Sarawak have benefited from the Tunas Usahawan Belia Bumiputera (TUBE) initiative, implemented by the Ministry of Entrepreneur Development and Cooperatives, through SME Corporation Malaysia (SME Corp). Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan said that TUBE had created over 1,691 job opportunities and generated cumulative sales exceeding RM13.65 million. 'In addition to the TUBE, SME Corp also provides a range of financial and non-financial support for micro, small and medium enterprises (MSMEs), including initiatives targeted at youth entrepreneurs, to help them start and grow their businesses. 'These include the Tunas-i; the Bumiputera MSMEs Financing Initiative (BMFI) @ BEEP; and the Bumiputera Export Incentives (GEB),' he said during the launch of TUBE 11, here, today. He added that, to date, a total of 5,055 MSMEs in Sarawak have benefited from these initiatives, with a total assistance value of RM20 million. He expressed hope that SME Corp would remain committed to driving entrepreneurial initiatives in Sarawak, particularly in areas such as the commercialisation of SCORE 2.0, improving market access, and facilitating international business matching through the Sarawak Connect platform. Meanwhile, SME Corp, in a statement, said that a total of 61 Bumiputera youths from Sarawak are participating in TUBE 11, which runs from today until May 28. In addition to offering business start-up grants of up to RM15,000, TUBE is designed to cultivate entrepreneurial spirit and instill resilience, discipline, and leadership among young business owners. Its latest edition features enhanced content, focused on artificial intelligence (AI), digitalisation and the integration of environmental, social and governance (ESG) principles. Since its inception in 2014, TUBE has disbursed RM125.84 million in business grants, and trained 8,653 youths nationwide, including RM12.65 million in grants which have benefitted Sarawakian youths.
The Sun
21-05-2025
- Business
- The Sun
879 youths in Sarawak benefit from TUBE initiative
KUCHING: A total of 879 youths in Sarawak have benefited from the Tunas Usahawan Belia Bumiputera (TUBE) initiative, implemented by the Ministry of Entrepreneur Development and Cooperatives, through SME Corporation Malaysia (SME Corp). Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan said that TUBE had created over 1,691 job opportunities and generated cumulative sales exceeding RM13.65 million. 'In addition to the TUBE, SME Corp also provides a range of financial and non-financial support for micro, small and medium enterprises (MSMEs), including initiatives targeted at youth entrepreneurs, to help them start and grow their businesses. 'These include the Tunas-i; the Bumiputera MSMEs Financing Initiative (BMFI) @ BEEP; and the Bumiputera Export Incentives (GEB),' he said during the launch of TUBE 11, here, today. He added that, to date, a total of 5,055 MSMEs in Sarawak have benefited from these initiatives, with a total assistance value of RM20 million. He expressed hope that SME Corp would remain committed to driving entrepreneurial initiatives in Sarawak, particularly in areas such as the commercialisation of SCORE 2.0, improving market access, and facilitating international business matching through the Sarawak Connect platform. Meanwhile, SME Corp, in a statement, said that a total of 61 Bumiputera youths from Sarawak are participating in TUBE 11, which runs from today until May 28. In addition to offering business start-up grants of up to RM15,000, TUBE is designed to cultivate entrepreneurial spirit and instill resilience, discipline, and leadership among young business owners. Its latest edition features enhanced content, focused on artificial intelligence (AI), digitalisation and the integration of environmental, social and governance (ESG) principles. Since its inception in 2014, TUBE has disbursed RM125.84 million in business grants, and trained 8,653 youths nationwide, including RM12.65 million in grants which have benefitted Sarawakian youths.
Barnama
21-05-2025
- Business
- Barnama
879 Youths In Sarawak Benefit From TUBE Entrepreneurial Initiative
KUCHING, May 21 (Bernama) -- A total of 879 youths in Sarawak have benefited from the Tunas Usahawan Belia Bumiputera (TUBE) initiative, implemented by the Ministry of Entrepreneur Development and Cooperatives, through SME Corporation Malaysia (SME Corp). Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan said that TUBE had created over 1,691 job opportunities and generated cumulative sales exceeding RM13.65 million. 'In addition to the TUBE, SME Corp also provides a range of financial and non-financial support for micro, small and medium enterprises (MSMEs), including initiatives targeted at youth entrepreneurs, to help them start and grow their businesses. 'These include the Tunas-i; the Bumiputera MSMEs Financing Initiative (BMFI) @ BEEP; and the Bumiputera Export Incentives (GEB),' he said during the launch of TUBE 11, here, today. He added that, to date, a total of 5,055 MSMEs in Sarawak have benefited from these initiatives, with a total assistance value of RM20 million. He expressed hope that SME Corp would remain committed to driving entrepreneurial initiatives in Sarawak, particularly in areas such as the commercialisation of SCORE 2.0, improving market access, and facilitating international business matching through the Sarawak Connect platform. Meanwhile, SME Corp, in a statement, said that a total of 61 Bumiputera youths from Sarawak are participating in TUBE 11, which runs from today until May 28. In addition to offering business start-up grants of up to RM15,000, TUBE is designed to cultivate entrepreneurial spirit and instill resilience, discipline, and leadership among young business owners. Its latest edition features enhanced content, focused on artificial intelligence (AI), digitalisation and the integration of environmental, social and governance (ESG) principles.
