KUALA LUMPUR: FORMIS RESOURCES BHD [], which is undertaking the RM69.0 million government e-courts contract, said the implementation is on schedule and is about 90% completed.
Executive vice-chairman and chief executive officer Datuk Mah Siew Kwok said Formis was awaiting the government's decision on phase two to extend this system to the other courts in the country.
Under the contract, Formis will design, supply and install a state-of-art integrated system comprising the'' e-filing, case management and queue management system and court recording and transcription.
He said on Tuesday, Sept 28 that Formis had a solid recurring income stream of RM61.0 million'' from maintenance and service contracts and an order book of RM194.3 million'' order as at Sept 15.
'The group also has a strong pipeline of potential projects, having tendered for a total of RM1.36 billion worth of contracts,' he said in a statement issued after the company's annual general meeting.
In the first quarter ended June 2010, it posted net profit of RM5.206 million compared with RM2.927 million a year ago. In the financial year ended March 31, 2010, net profit rose 23% to RM13.734 million from RM11.617 million in FY09.
Formis expected current year earnings to remain strong given the healthy economic outlook and the government's further initiatives to strengthen the information communications and TECHNOLOGY [] sector.
Executive vice-chairman and chief executive officer Datuk Mah Siew Kwok said Formis was awaiting the government's decision on phase two to extend this system to the other courts in the country.
Under the contract, Formis will design, supply and install a state-of-art integrated system comprising the'' e-filing, case management and queue management system and court recording and transcription.
He said on Tuesday, Sept 28 that Formis had a solid recurring income stream of RM61.0 million'' from maintenance and service contracts and an order book of RM194.3 million'' order as at Sept 15.
'The group also has a strong pipeline of potential projects, having tendered for a total of RM1.36 billion worth of contracts,' he said in a statement issued after the company's annual general meeting.
In the first quarter ended June 2010, it posted net profit of RM5.206 million compared with RM2.927 million a year ago. In the financial year ended March 31, 2010, net profit rose 23% to RM13.734 million from RM11.617 million in FY09.
Formis expected current year earnings to remain strong given the healthy economic outlook and the government's further initiatives to strengthen the information communications and TECHNOLOGY [] sector.
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