@aa111111....for summary go back to October Forum...and make your own decision....some ppl follow some need persuasion or pushing...other stubborn ( scared of his own shadow)..which one are you? While you are at it also beware of Doomsday Theory...

@ 63333336 Orion, current profit 8.5mil=1.9eps, next report if 20mil, assume eps=3eps, + current 2.66=5.66, 5.66x30pe, rm1.69 wor... we will see this on feb 2015.
08/11/2014 21:19

I think they will realise Rm 25 million from the carry forward work in progress ...another Rm8 from new customers giving 2014 Profit in region of Rm 40mil....but they will declare Rm 12 -13 mil... & hide the rest in receivables...so final 2014 PAT likely to be about Rm25 mil.....eps will be about 0.55 sens...take PER at 21X...TP expected Rm1.15...( not far from CIMB & yours) if 30X ..WILL FLY.


I would not be surprised if the application to MB will commence & by Q1 when in May 2015 another good Q report emerges...creating a hype & more good reports from analysts & demand for their shares...by this time market will reassess whether it is merely a GST Co or more...

I expect some of their solution softwares like Megamall Management & HR Solution will do well...and their Strategic move into China would reveal another story...

Meanwhile CEO Ken also reveal possible M&A.....we have to wait to judge his business acumen on any acquisition...

All in all the next 6 months will be good....long term investors will do well....Traders will enjoy the ride too.....& NON BELIEVERS....hahaha my conclusion is they are stupid..just ignore them as they will invade our Forum from time to time as we hit new HIGHs...

Guys....as alluded by CEO..The work carried forward valued @ Rm 38 mil..is a done deal...profit can be as high as 25-20 mil for Q. ..hahaha...no need to speculate...Add & average up...sell after Rm 1.00

Hahaha...laugh all the way to Bank...

Guys ...don't brag on your profits...Calvin may get green eyes and invade us again...besides with crime rate so high..we do not want you to be kidnapped..

Just say we are all comfortable with the gains...

As I said this forum group owns at least 5% of the Free Float.( 20 million) .with King of Stock and his super profits ( at least 5 mil of script@ 60 sens gain)...and some of ours we can withhold supply or sell and affect price...Holding may bring the price up to RM 1 quickly.....


So let me suggest that you do not consider selingl until after Rm1.00......AGREED ?


HAHAHA...this is a laughter of joy...have a great weekend

Jtpc. There are about 145 mil...The free float will dry up soon...just watch & enjoy....must be patient & happy...In such situation must avoid carrying too much stress...you hv option of conversion as in my previous posting at a discount for mother share...

If 4 sens discount means it cost you only 6 sens to convert...It takes 9 trading days to convert & shares deposited in C DS....If want to do it do it now...as mother shares go to Rm1.00..

Frens...I can see you are all enjoying the fun of owing a winning counter which flies...

Seriously look at WA because there is a smaller supply of scripts (170 mil warrants ?) and the discount is unusually deep...there is no reason for it to stay that way for long..

Posted by Alpha Trader > Nov 6, 2014 11:49 PM | Report Abuse

orion, could you drop me an email at see2blieve@gmail.com?

address is orionpacific8@gmail.com

mbatrader...WA almost 3 sens discount...more gain today than mother share if mother close at 80sens..

by mbatrader > Nov 7, 2014 12:46 AM | Report Abuse

orion, if we bought WA at a cheaper price (e.g. 0.60), and when the time it is expiring, the mother share price maybe at 2.00 already. so, it's still worth to convert right? because the cost is only 0.60+0.10, which means i'm getting mother share at 0.70 per share as cost.
So, i don't see how it prohibits the converting, unless mother share price at conversion time is lower or equal the WA price i purchase. am i right?

Mbatrader. ..If mother is Rm2.00 then WA is 1.90 but if Rm1.95 @ last day of conversion you better sell quickly.....no point converting & if u still like Mother share buy @ the lower price of 2.000...If you convert your opportunity cost is Rm2. 05. ..

mbatrader..that is true that it is also common for WA to trade at a premium to put a cost on the same leverage...I hope this will happen soon and for WA to move at least 5 sens more ...this movement will be at a costs ..it prohibits me from converting WA to mother shares as it iwould no longer be worthwhile as buying the mother share direct from the market is a better option...you may wish to join me for this fluke as the market is never perfect..


Cyborg I am no Optimus...just plain the North Star in the Pacific...

ozzie75 ...I have been in and out of many places, ride many cycles up and down...I am only in two counters iunder this name...you can check from my comments for my believe in the medium terms stock called KEuro...

AT ok...will do

Yes Ken did say " this is just the beginning" and that he has to accept the PE of 21x

HaHa Ha Nancy..good luck...it will be choppy...make sure you can take up the scripts...

mbatrader...say my last trade was WA @ 60 sens when mother was 71.5...I have to pay RM 71,500 for 100,000 shares...for the same value I can get about 119,000 shares...as the price seems to move in tandem...by investing in WA I can make more because I have almost 19,000 units more...I bought WA because at this stage no dividends is imminent and if dividends is declared..I can convert and still make a small margin of 1 sens after paying the conversion price of 10 sens...This is was the arbitragers called "leverage"..QE

AT ..you were there then ???

Cyborg I like your optimism...for me I like to start at 1.35 sens by year end..since I could not get my limit up wish...if reach your level I will super huat??


I think if the Company is smart...they should declare dividends in Q1 and if the margin is still 11-11.5 people will convert and the company will build up its treasury..

BTW i forgot to mention that the Company is also thinking of M&A trail...but did not disclose the target company ???

I went WA as for the same amount I get 10%+ more shares..There is also a 1-1.5 sens conversion leverage..

Just think if half of what is carried forward is profit ( as their operating costs is booked)...CIMB said all profits will go straight to bottom line...that would be at least RM 19mil for Q4...

AT accepting PE of 21x what is the TP... I don't want to think about it but it will be at the back of my mind when I decide..

Hi Frens...happy trading this morning?

I was very disappointed that there was no limit up..At the Analyst Briefing this was privately discussed and it was decided that there were many punters who entered the last 3 days and it may take a few more days for the clearing of their position. That must explained the lethargy found in the morning.

.Just to share with you....The Analyst Briefing went very well...Researchers from CIMB, Maybank and Kenanga were all there together with their investors/clients including Fund Managers ( Public Mutual, Kenanga Investors )...General consensus is that they aren impressed with how the price of the stock tracked upward the last 3 months backed by Q3 performance.

Questions raised were mainly on the following:

The Receivables are part of their accounting treatment for invoices issued for completed job including progressive billings...Ken also explained that where they receive pre contractual deposits, the payment will go to "Other Liabilities until billing starts..They do not window dress their balance sheet...

Dividends were discussed and he presented that as a software company they do not need so much cash and be able to distribute excess cash out as dividends and this would most likely be after the full year's results. Also in their business they are likely to accumulate more cash as their sales grow. At this moment their cash position is RM 35mil...almost the same as their issued and paid up capital of RM 45million...

Seungi...the Development costs is as what I explained to you last night. the cost of developing the software will be capitalised until they can be amortised when the product is launched into the market...This is a question raised by an investor..

Sustainable profits: The RM38 mil carry forward uncompleted works is almost certainly a done deal and will be booked either into Q4 or Q1 2015...(all 38 million in 2 Qs.) Their emphasis is not just the GST which formed only a small portion of their revenues. They also develop other solution packages like for HR, Magamall management and Hotels..These solution softwares are their latest additions and are selling well in both China and Malaysia. Questions raised in regards to the competitors providing the same in China and how realistic is their market share. IFCA is up to the challenge and are marketing their own software and their Megalmall solution and the HR solution is making market penetration...

The entry into MB is important to IFCA also as it gives them better recognition in their marketing efforts be it in Malaysia or China...when speaking to CIMB the analyst hinted that the MB may even come in 2015 as the track record would have been achieved.

other than the the last 2 paragraphs which to me meant one thing ...Q4 will be an even better Quarter.... the rest is merely clarification of their Q3.


So how am I to liquidate my stocks....please decide for yourself as I cannot decide myself whether to take longer risks for my grandchildren...Hope analysts will follow CIMB and come up with an ADD recommendation tomorrow...

Have you all looked at QL...almost every investment house have changed TP by 10-15%....? Think about it...

@pujut.... TQ for the CIMB brief..just show how good we are in this forum too!

AT...if you are there how can I identify u...share a drink?.

Alpha...noted all.2014 is booked in but not declared..2015 must be aggressive but conservative....that is why I am going to the Briefing...need to know what else for the sake of my Grandchildren Education Funds !!! HaHa Ha

Alpha either way it does not bother me...a limit up situation will occur if sellers decide that the worth is about RM1.00 and hang on.. remember the supply of shares has changed...besides what the Yong has there were at least 20 + million per day for the last 3 weeks..The weak contra players has been flushed out the last two days...I believe within this group we would have easily 5%...and most of us are not selling...

wait and see...I think if the Analysts forecast based only on the 2014 full result..they will be calling a Buy and put a target of easily RM 1.00. If that happens only the ikon bilis and those not in the know ( the market being imperfect ) will be selling during the first hour...and if the selling continue it will be still around the 80 sens level...until the afternoon session after the analysts having text their dealers to enter the market...during the afternoon session the 30% limit up will bring the price to RM1.04...wouldn't this be great...

my friends in this forum should just wait...you can bet those who bought yesterday and today when the consolidation took place will not be selling until after the revaluation and the shortage of scripts will make the price readjustment happen...Its a natural progression of psychological behaviour of the market...

Hope I am right..

Seungi ...it will be amortised out when they start to book incomes...Auditors refuse to value something that cannot be valued...their earning assets are therefore their investment costs...auditors do not want to make every assets to market which can result in fluctuation values every quarters...

all those who have the stocks...wait for the limit up price of at lesat 0.91 sens or Alpha valuation before you move......if you should want to park a sell than put at 0.91 and see the fish biting...have fun..

Unless you were with us before the Q3 Report..those who are queuing to buy...Beware...it will be a choppy market as profit taking will occur and your upside may not be attractive if you are to enter at the limit up price...do not put you PTPN funds there...But if you had bought with your PTPN monies...well done but do not ever do that again...you should be studying and not dabbling in shares trading...

Seungi...that would mean the R & D and other solutions which has been booked in the books as development costs ( deferred) as they are work in progress valued on the costs outlay but not fully developed as a product. As their auditors are unable to fully determine the value of their solution softwares and other IP assets, all these are booked at development costs and not its actual worth ...i.e the NAV is very low at 0.14 per share...

Hope this helps

SmurfBee..Remember I told you guys not hope for Bonuses or dividends ( they will come later)...we must be thankful that the RM 8.5 mil is reached....the carry forward job of RM 38 mil should also tell us IFCA achieved and surpass CIMB whole year projection ( CIMB has to revalue the counter)..However I wish IFCA not to declare anything higher than 12 mil..anything higher is a waste of ammunition ( the share price will be determined on supply and demand during Q4 period.)...Ken should keep his profit to declare another better round for the Q in 2015 for the move to MB in 2016...What I am saying is that with the hype the financials are no longer that important..market has judge the quality of the stock..now IFCA has to sustain this upward trend...

Calvin Clavin...to say that the accounts are bogus is stupidity of the 1st degree. Is it not Ernst that is the auditor and the Audit Committee took the whole day to approve the release of the accounts...Account receivables are of course required to record work down but not completed and to also mitigate the risk of non payment as the implementation are on stage and progress of installation and provision of solutions..How could anyone want to listen to you after these...you should just swallow the bitter pill and accept that you were very wrong from the beginning...to spread your Doomsday theory you may wish to come back when the counter trade at RM 5.00 and issue the danger warning...by then you may find investors like EPF, Tabung Haji etc., in..BTW Clavin I don't see TSVT giving a analyst briefing on the capital gains that you alleged..if he does he won't get an audience..they are all unrealised gains and will not count for anything until he sells.

Alpha ...BTW I am gatecrashing the media and analyst meeting and I believe further good news will be dug out otherwise why have a briefing and i will be able to adduce the next wave.....perhaps I may run into the analyst from CIMB to share his thoughts...

By then my take is the first morning trade will be limit up. because investors would have guessed Q4 profit of at least 12 mil......nobody is selling after this result and I won't be surprise if the first seller will be parking at 0.91 sens for the main share and 0.78 send for the WA ( this give the a 3 sens arbitrage margin) the second trade in the afternoon will be perhaps at RM 1.00 but most will be waiting for the analyst to fathom the prospective profits for 2015...anything lower will be grabbed like pacman.

Another factor that helps IFCA is the honesty of the Chairman/CEO..who went on radio totally unprepared and explained among other things that "the counter has been undervalued for so long"...and as he said IFCA is building up a business..they own the software and GST is not the only story...The market has judged him but he will be tested again during the Q4..


How great you are IFCA...

simon84...I won't sell if not over RM1.00..at least RM1.28...See my posting on...theoretical with outstanding contract of RM37.8 carried over to the 4th quarter a profit of RM 15 mil is possible as the cost elements remain the same and it is still PAT..Take PE of 20 just to help calculation..the TP is mindboggling.

Taka...just wake up and be there first thing in morning and yell out loud..C A L V I N...for selling maybe wait for analyst briefing and more factors to explain PE and forecast results for rest of 2014...smile..as I am smiling too.

Alpha...you buy me a drink and I buy you too...congrats...really good projections by smart ppl...

rm 8.5 million...and media/analyst briefing at 2.30 @KLGCC..

Limit up possibility first thing in morning...please don't oversleep...woot woot Yippee hurray

TQ armt...for posting the full announcement...

please do the same for the `Q report...will be tied up this evening...

false alarm lah...acquisition of a RM 2 company to HR..

it is out reading now

oh...if analyst briefing set for tmrw...the results must be super good...otherwise why bother ? armt just improved my hope...

maybe they will announce Substantial Shareholders' Interest ...IFCA Forum Group ??? HaHa Ha..

announcements being issued over Bursa news by others now...no IFCA yet...holding my breath ...

Ozzie, Smurfbee and SimonSez...hey guys I like your positiveness but please come back on earth...Bonus issue cannot lah..insufficient Shareholders' Reserves ....and Dividends also unlikely...maybe after a full year profits....anyway why over reward when the organic growth is sufficient to move your share please?....

Just put your combined Force on the profit figure of RM 8 + million that is enough...don't be greedy...LOL

the market is absorbing the sellers very well。。。new position and new players。。buying strength ever so present..consolidation taking place as the market take a breather before the announcement....very healthy。。

Based on volume now...no imminent collapse..ppl liquidating b4 news.....just fasten safety belt and be ready to take off

No trading halt now...trade thru 5pm... Watch news from Bursa...and tune in to radio and cheer...

Market leaked out IFCA Board meeting in progress....profits may have been tendered...announcement soon...let it be Rm 8+ million

in afternoon the screen will be green。。。come to think of it。。。what if the Company decides to make its report during lunch。。they may seek a suspension of the counter for a few hours for ppl to digest and then open at xxx hours。。

hurry jual murah。。

Alpha well done on Careplus recommendation... Wud like to一spend my IFCA moneymfirst....but will track it！

always—Staedy。。。I am looking for WA as a punt。。at the moment margin is equal to conversion price so。。sama sama 。。WA allows me to buy more。


Rasputin。。。。the selling seems to have dried up 。。only about 6 mil stale bull。。。honky doori all the way to tmrw morning and autodrivve up all the way。。

｀hahaha。。。you sound like Raputin。。。Ras Ras Rasputin。。。Russia's Killing Machine。。。take care mate。。don't lose it over a penny stock。

Calvin is Right。。。ya RIght outsight the winning circle。。。I think you should just go have a teh tarik or else you may be subject to some chronic attack。。。stay strong RR。。

Alpha you are watching the screen too ！