IFCA in M&A Talks

In his first media interview as CEO of IFCA MSC Bhd, Michael Cho shares with the Morning Run his plans for the company with him in the driving seat. In the midst of a tougher and fast changing operating landscape, Cho talks about the company's plans to revamp its business model through its IFCA 2.0 transformation programme. IFCA, that turns 30 this year, is a software solutions provider to property businesses in Malaysia and overseas. In 2015, it launched Property365 - the first real-time transactional property e-marketplace in Malaysia. From an earnings perspective, the company's net profit was hit last year falling 98% year-on-year to RM518,000 for FY2016. Cho talks about what happened and how they plan to build a sustainable income stream moving forward. He also reveals that the company is in M&A talks. "We are looking at M&A...We have been in talks in the last few months with a lot of people.. we are quite a conservative company... So we don't look at weird business models that claims to have a lot of potential.. because we have a lot of experience in the property sector so we will use that to gauge the potentials.. and if they are good, we will look at investing into them," he tells BFM in an exclusive interview. Cho says they are "scouring the market" but have yet to make a "big move". "We are talking to some but there is no definite timeline.. both parties have to agree on a common future," he notes. IFCA is sitting on cash of RM69 million as at June 30, 2017. Cho believes that while they want to grow and transform IFCA, they have to do it fundamentally well. Listen in to find out more.See omnystudio.com/listener for privacy information.