17 www.excelforce.com.my The growing threats of cyber-attack to steal data for ransom and deny genuine user access to systems requires timely and effective countermeasures. To mitigate this risk, the Group tracks the latest cybersecurity trends and development, and periodically review its system security settings to strengthen cyber-defences. The Group also works closely with customers security teams to periodically review our application and fix or eliminate any vulnerabilities found. The Group has implemented the Anti-Bribery Management System (ABMS), the Anti-Bribery policy, code of conduct and ethic as published on our website. The ABMS was reviewed in the current period and recommendations made were implemented to ensure the adequacy and to strengthen the ABMS. The Group conducted awareness training to staff about ABMS. The detail risk management and internal control are disclosed in Statement on Risk Management and Internal Control (SORMIC) on pages 40 to 43 in this annual report. The framework enables the Board to continuously identify, assess and manage risks that affects the Group. FORWARD LOOKING STATEMENT Businesses today face several significant global challenges. Chief amongst them is economic uncertainty where inflation, interest rate, trade war and geopolitical tension converge that could potentially disrupt markets and supply chain, dampen consumer spending and lower company investment. Another significant challenge is to address the adverse impact of climate change, with companies under pressure to adopt sustainable practices, reduce carbon footprints, and act on environmental concerns. The rapid growth of artificial intelligence opens up many possibilities to positively transform businesses, and also great fear on the human cost from potential job losses and rise of artificial general intelligence. This is still a largely unregulated space. The rise of cyber-attacks and scams pose big risk to today’s heavily digitalized businesses, both in terms of ransom paid and time loss in recovery and dealing with the aftermath. As a globally connected trading nation, Malaysia is not immune to these global challenges and businesses will be affected in some form. In the Group’s market space, there are increased competition from local and foreign solution providers. Current and prospective customers are also looking to diversify their product and service offerings to improve revenue stream and stand out in a crowded field. The Group’s strategy is to work in step with our customers to be ahead of the competition and develop innovative solutions to address their business needs, in good quality and within time and budget. EForce will continue to strengthen our core products and roll out new applications and enhancements to keep our offering fresh and attuned with the times. The Group is constantly engaged with our customers to understand their business needs, uncover new ways or ideas, and help them achieve their business objectives. EForce intends to grow its revenue stream, optimise utilization of resources for productive gain and improve margin. The Group regularly reviews its resource allocation to ensure our people are concentrating their time and effort on the right activities and get them done right first time, balancing between short and long-term objectives. The financial industry landscape is evolving and changing rapidly. There are many asset choices now for investors to select and grow their wealth, achieve their financial goals. For stockbrokers to communicate their unique equity investment proposition, it will demand greater innovation and uniqueness in their product and service offering to attract and maintain the attention of investors, especially those of the Millennial and Gen Z cohorts. This presents great business opportunity for us leveraging on our 30 years of know-how in serving this market. The Group is cautiously positive on our business performance in the new financial year 2025. DIVIDEND The Group had declared and paid RM3.05 million dividends or 0.5 sen per share in the current financial year. EForce proposed a final single-tier dividend of 0.5 sen per ordinary share, subject to shareholders’ approval in the upcoming Twenty-Second (22nd) AGM to be held on 5 December 2024. The dividend payout ratio (including this proposed dividend) will be 71% of the Group’s profit or 1.0 sen per ordinary share for the current financial year. Total dividend paid for FYE 2024 was 1.0 sen. EForce has no dividend distribution policy as management is of the view that adequate resources must be maintained within the Group for working capital and future expansion needs of the Group. Factors that may influence dividend pay-out includes profitability of the Group, the availability of cash balance, adequacy of reserve and economic situation. Management Discussion and Analysis (cont’d)
RkJQdWJsaXNoZXIy NDgzMzc=