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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.'
New Straits Times
27-05-2025
- Business
- New Straits Times
Sarawak aims for 5 million visitors, RM12.7bil in tourism revenue
KUCHING: Tourism, Creative Industry and Performing Arts Minister Datuk Seri Abdul Karim Rahman Hamzah today expressed his confidence that Sarawak will achieve a target of five million visitor arrivals and to generate RM12.73 billion estimated tourism receipts for this year. He said the target can be achieved based on the visitor arrivals of 1.6 million recorded between January and April this year. "From January to April 2025 period, Sarawak continues to receive largenumber of visitors from Brunei (514,015) andIndonesia (236,054)," he said in his winding up speech at the Sarawak State Legislative Assembly here. China contributes 24,865 arrivals to Sarawak, Singapore 18,637 and the Philippines 14,482, he said. He said the visitor arrivals for the first four months of this year contributed to RM4.07 billion tourism receipts.
Borneo Post
27-05-2025
- Business
- Borneo Post
Abd Karim: Sarawak on track for 5 mln visitors, RM12.73 bln tourism receipts in 2025
Abdul Karim shows the texts of his ministerial winding up speeches. – Photo by Roystein Emmor KUCHING (May 27): Sarawak is on track to achieve its target of 5 million visitors, generating an estimated RM12.73 billion in tourism receipts for 2025, said Tourism, Creative Industry and Performing Arts Minister Dato Sri Abdul Karim Rahman Hamzah. He said that this is in view of the arrival of more than 1.6 million visitors recorded between January and April this year. 'Asean is our key tourism market, with Brunei Darussalam contributing the largest share of visitor arrivals, accounting for 1,891,314 visitors (39.1 per cent), followed by Indonesia with 653,883 visitors (13.5 per cent). 'Singapore and the Philippines contributed 1.2 per cent (59,793 visitors) and one per cent (46,853 visitors) respectively, while China has become a significant contributor with 1.5 per cent (74,721 visitors),' he said when delivering his ministerial winding up speech during the State Legislative Assembly (DUN) sitting today. Abdul Karim said from January to April 2025, Sarawak continued to receive a large number of visitors from Brunei Darussalam (514,015) and Indonesia (236,054). Additionally, China (24,865), Singapore (18,637) and The Philippines (14,482) remain among the top five contributors. Regarding tourism receipts, he said Sarawak achieved RM4.07 billion from January to April this year. 'In 2024, Sarawak's tourism receipts were RM12.45 billion compared to RM9.99 billion in 2023,' he said. Abdul Karim further highlighted that the major contributors to the state's gross domestic product (GDP) are the services sector, comprising of sub-sectors like tourism, utilities, transportation, information and communication, finance and insurance, real estate, and business service. 'In 2024, the services sector contributed RM58.21 billion or 39 per cent of the economy, compared to RM54.54 billion in 2023. 'Out of this, the tourism sector's contribution to the services sector was 21 per cent,' he said. 2025 Abdul Karim Rahman Hamzah lead target tourism receipts visitors
The Sun
27-05-2025
- Business
- The Sun
Sarawak on track to achieve five million visitors this year
KUCHING: Sarawak's tourism sector is on a robust growth trajectory when over 1.6 million visitors were already recorded within the first four months of this year, putting it on the right track to achieve its 2025 target of five million visitors, said State Tourism, Creative Industry and Performing Arts Minister Datuk Seri Abdul Karim Rahman Hamzah. He said the visitors' arrival to date had also given him the confidence that Sarawak could register RM12.73 billion in tourism receipts this year. 'Tourism receipts reached RM12.45 billion in 2024, up from RM9.99 billion in 2023. From January to April this year, we have already generated RM4.07 billion,' he said when winding up on behalf of the ministry at the Sarawak State Legislative Assembly here today. According to him, Sarawak welcomed 4.83 million visitors last year, a 23 per cent increase compared to the previous year, and this exceeded 2019 pre-pandemic figures by 3.63 per cent. He said the majority of Sarawak's international tourists come from neighbouring ASEAN countries. Brunei Darussalam topped the list with 1.89 million visitors, followed by Indonesia (653,883), Singapore (59,793), and the Philippines (46,853). Meanwhile, Abdul Karim also told the august House that under the 12th Malaysia Plan, Sarawak has allocated RM382.57 million, supplemented by an additional RM136.44 million under Projek Rakyat and RM49.9 million in federal funds via the Ministry of Tourism, Arts and Culture to improve tourism infrastructure. He said the completed projects include conservation works on historic forts, ecotourism facilities at Santubong National Park, upgrades to the Melasak Waterfall Tourism Centre, and enhancements to the Sarawak Cultural Village. On the Sarawak-Malaysia My Second Home (SMM2H) programme, he said it had seen growing interest since 2020 and as of this month, 3,141 applications have been approved since its inception in 2007. 'In 2024, 560 approvals under SMM2H brought in RM111.6 million in fixed deposits, while 265 approvals in early 2025 have added another RM65.3 million,' he said, adding that top participants for the programme hail from China, the United Kingdom, Taiwan, Hong Kong and the United States.
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
