Cuscapi Berhad (Cuscapi), a leading Malaysian provider of innovative technology for the hospitality and retail industries, today announced financial results for the fourth quarter and year ended December 31, 2012.
Her Chor Siong, Chief Executive Officer of Cuscapi said, “We are very pleased with the strong performance of our overseas operations which provides a strong momentum in our business which we expect to translate into continued strong growth in 2013.”
Sustainable regional growth
Her added, “Despite general economic concerns, the demand for our solutions continues to grow, because the F&B industry is a recession-proof market. Our business is growing supported by our diverse customer base across the region. We are happy that our products are delivering high returns for our clients.”
“We are very pleased with the progression of our overall business plan,” said Her. “While the growth in Malaysia was flat for the year, Southeast Asia regions was seeing a growth of 21.8% increase y-o-y and China with 54.6 % y-o-y.”
Focus on China
“It’s an exciting time and 2013 will be a transformation year for Cuscapi as a regional player providing end-to-end solutions and services for the F&B and hospitality industry, including new products and services such as interactive devices and centralized delivery call-center.”
Cuscapi is targeting F&B businesses in China, capitalizing on the growth of China’s middle class and the strong demand for out-dining. As a greater number of second and third level cities in China undergo development and become urbanized the purchasing power of their inhabitants grows stronger than ever.
Cuscapi’s customer base in China continues to grow and the company recently completed a new deal with Qing Feng Bao Zi Pu, a 180-F&B-store franchise owned by Hua Tian Group, in North China with an expected minimum value of RM5 million over the next five years.
With the completion of an established player in Philippines, Tills N Labels System Marketing Inc., we expect Philippines to contribute strongly to our revenue growth for SEA in 2013.
New Interactive F&B tablet
Her continued, “We are continuing to win business with our comprehensive suite of point-of-sale technologies and Transight solutions, but we are very excited about the latest development in our F&B solutions which will provide the F&B industry with the ability to improve the dining experience for customers by delivering informative, rich multimedia content and enhancing the effectiveness and reach of our clients’ marketing programs.”
Cuscapi will announce the release of their new product which will help F&B retailers bridge the gap between digital and physical channels and enhance their ability to market to consumers at the point-of-sale. The new product, an interactive digital tablet, will provide customers with a fun and easy method of ordering and will help retailers quickly and cost-effectively powered loyalty programs, showcase offers and drive cross-selling initiatives directly at the point-of-sale through native integration with Cuscapi’s promotions and offer management software, middle and back office solutions and centralized call centre system.
Main board transfer and fund raising
In conjunction with the transfer of listing status from ACE market to the Main Board, Cuscapi Berhad had proposed a renounceable rights issue of up to 146,749,640 new shares of RM0.10 each, together with a 1 free warrant for every subscribed and fully paid rights shares and a 1 free bonus for every 2 subscribed and fully paid rights shares to enhance its shareholder’s funds and provide the funding to grow its regional offices and new product development. “The proposed exercise has been approved by the shareholders in the EGM held on 21st February 2013 and is expected to complete by Q2,” Her said.