Friday, November 8, 2013

Cuscapi ...

An Asia's leading F&B solution system and managed service provider has embarked on an aggressive expansion drive to tie-up with more F&B outlets in China and other key markets in South East Asia, India and the Middle East in line with its target of achieving a 70% revenue contribution from its overseas markets by end-2015.

Overseas operations currently accounts for about 40% to the company's revenue. It now (Nov 2013) has direct presence in nine countries. China provided 50% of the group’s revenue for the first quarter of 2013. China is its single-largest international market.

It plans to open another seven more offices, of which four would be in the Middle East, ASEAN and India, and three in China over the next three years from 2013.

At present, Cuscapi's operations in India and in the Middle East was through supplying its F&B solutions systems to partners which would then install the relevant software and hardware in restaurants to facilitate the delivery process. Besides this, it also provide outsource call centre delivery services to restaurants. This new product allows the company to also get a recurring revenue and strengthened its income over the longer term.

Among the company's clientele in China are Bread Talk Group, Ganso Group, Qing Feng Bao Zi Pu Group, Yong He King ( part of JollibeeGroup), Xiabu-Xiabu and DG. In Malaysia, Cuscapi's clients, among others, are KFC, McDonald's, Pizza Hut, Papa Rich, Sushi King, A&W and TGI Fridays.

For the financial year ended Dec 31, 2012, the company's net profit stood at RM6.8mil compared with RM8.6mil in 2011 mainly due to continue investments and expenditure incurred in setting new overseas offices . Revenue for the period rose to RM58.9mil against RM53.6mil previously.

The completion of its corporate exercise which involved a rights issue and bonus issue had helped it raised RM29.6mil which would help in the expansion of new offices in China, India, Middle East and Asean.

Its potentially catalysed are stronger-than-expected demand for REV -- Cuscapi’s new commercial interactive tablet --- and potential M&As.

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