Although it would have a direct exposure to the GST which will be implemented April 2015, the date storage provider says this not the case.
It is not exploring a direct exposure to GST at the moment. The company expansion plans are geared towards expanding the capacity of existing businesses … business solutions outsourcing and information storage.
Nevertheless it could indirectly benefit from the additional generation of physical and digital documents arising from GST.
At the moment the company is seeking to grow its presence in the information security market as part of an aggressive push towards expansion. It already counts several multinational banks as major clients of its physical and digital data services.
Efficient’s high profiles include Singapore Post Enterprise Pte Ltd had a 20.8% stake in the company as at April 2014. Asset managers from JP Morgan Chase and Credit Suisse also owns stakes of 7.6% and 7.29% respectively.
Efficient’s earnings performance over the past three years prior to 2014 has been mixed since POS Malaysia Bhd increased postal rates by as much as 100% in July 2010, significantly eroding the margins in the company’s mailing operations segment.
For the cumulative period ended June 30 2014 the group posted a net profit of rm3.04 million.
Looking forward, the group intends to double its current revenue by building new facilities for information storage operations which the rm12 million land acquisition will be mostly financed by internally generated funds.
Its cash balances plus deposits stood at rm48.06 million.
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