IFCA to earn up to 5% from soon-to-launched property website

by **Cals** Tue 01 Dec 2015, 00:34

IFCA to earn up to 5% from soon-to-launched property website

By Sangeetha Amarthalingam / theedgemarkets.com | November 30, 2015 : 2:56 PM MYT

KUALA LUMPUR (Nov 30): Multimedia super corridor-status company [size=16]IFCA MSC Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 3.00) expects to earn between 1% and 5% income from the value of each property sold through its "Property365.my" website, targeted for launch in early December.

In a filing with Bursa Malaysia today, IFCA said the property portal, marked its entry into the e-commerce business, where it would also earn subscription fees from property developers who utilised Property365.my's services.

"Property365.my is a digital platform that serves as a marketplace for all new residential properties. It is designed with an online booking feature to help property developers market and sell their projects smarter and faster.

"Potential property buyers can access all the information on their preferred projects as well as register and proceed to book their preferred units through this platform," it said.

IFCA, an integrated software provider in Malaysia and Asia, said the e-commerce business would contribute positively to its revenue and profits in 2016 and onwards.

At 12.29pm, it slipped 1.5 sen or 1.49% to 99.5 with 5.49 million shares done for a market capitalisation of RM567.4 million.

(Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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