In the midst of the pandemic, companies that provide technology-related services are booming as businesses and education are mostly focused online. In this issue, Top 10 of Malaysia shares its pick of the top ten Bursa’s most inspiring software companies (presented in no particular order) that continue to retain its high revenue income even when other businesses were adversely affected financially. These companies’ shares, market capital and profits reached millions in ringgit and some even funded millions of ringgit for Covid-19 related initiatives or took over projects that are worth billions of ringgit.   

Calvert Wong

AppAsia Berhad

AppAsia Berhad, a public listed company on Bursa Malaysia’s high growth ACE market, is one of the country’s leading digital platform providers specialising in advanced mobile applications, digital contents, e-marketplaces, big data and artificial intelligent technologies. AppAsia is also a prominent solution provider of IT security and cloud technologies under the brand name of “Extol”. Led by Calvert Wong, AppAsia has expanded its ventures over previous years into various digital areas, its repertoire has grown to include digital advertising across all media platforms, and the building, maintenance and running of several e-commerce websites as well as the development of an e-marketplace platform. AppAsia launched the much-anticipated Malaysia’s first and only industry-wide Electronic Confirmation Platform with Malaysian Institute of Accountants in June 2020. This Digital Platform is targeted to be used by all the auditors and banks operating in Malaysia to process the bank confirmation for 1.3 million companies. AppAsia’s share price reached a record high in July 2020. 

ARB Berhad

Led By Dato Sri Liew Kok Leong ARB (formerly known as Aturmaju Resources Berhad), was incorporated in Malaysia in 1997 under the Companies Act, 1965 and was listed on the Main Market of Bursa Malaysia Securities Berhad in 2004. It evolved from timber as its core business to include IT solutions and services. Since the diversification of ARB’s business, the company has experienced accelerated growth, clinching lucrative deals and establishing a strong base of clientele and partners, both locally and abroad. It provides services for Internet of Things (IoT) such as for smart homes, smart buildings, smart water supply and also Enterprise Resource Planning Solution. ARB’s net profit for the fourth quarter of 2020 grew 54.4% to RM19.74 million from RM12.79 million a year ago, on the back of a surge in revenue.

Censof Holdings Berhad

Censof Holdings Berhad was established in 2008 and led by Ameer bin Shaik Mydin. The company has become one of the leading Bumiputera companies in the accounting and technology industry with a growing portfolio of clients from the private and public sectors. It provides services such as accounting management software, eCommerce solutions, inventory management and payroll management for small and medium Enterprises, financial management solutions, payment aggregation solution, wealth management solutions, training solutions. Censof has over 400,000 satisfied clients and 320 staff in over 5 countries. The company returned to the black with a net profit of RM2mil in the third quarter of its financial year that ended in March 2021. 

Excel Force MSC Berhad

Excel Force MSC Berhad was one of the pioneer companies to build a web-based system for end investors to execute share trading via direct access into stockbroking companies system. The company works closely with brokers to systemise their back office operations. These include a system to manage and address operational and business risks, and a core system for brokers’ back office operations of trade and settlement processing, margin financing and collateral management, etc. This completes its system solutions, covering front-end trading to back-end processing, with risk management in the middle. 

Hong Seng Consolidated Berhad

Hong Seng Consolidated Berhad or formerly known as MSCM Holdings Berhad aims to transform the Group into a formidable listed company by expanding in various new pillars of business to be a glove manufacturer, a medical and healthcare related supply chain management specialist, and a financial services provider of moneylending facilities and hire purchase services in addition to its existing business of search and advertising. Hong Seng also secured a RM34.25 million contract to supply polymerase chain reaction (PCR) test kits for Covid-19 to the Institute for Medical Research (IMR). 


Founded by Ken Yong in 1987, IFCA MSC Berhad has pioneered the development of business systems for property, construction and engineering, hospitality and HR industries. Using cutting-edge technology, it digitalises ways of working and enables digital collaboration to boost productivity and optimise business performance. It has branches in Singapore, Indonesia and China. IFCA posted net profits of RM3.67mil in the second quarter that ended in June 2020 mainly due to rapid recovery in China’s economy and lower overall operating costs despite lower revenue.

IRIS Corporation Berhad

Led by Shaiful Zahrin Bin Subhan, IRIS Corporation Berhad is a technology integrator and innovator that provides innovative, relevant, intelligent and secure solutions for trusted identification. IRIS has over 25 years of experience in developing ePassports and multi-application eID cards. The company manufactures smart cards, identity documents and devices required to authenticate them and designed the world’s first ePassport and multi-application national eID card. It has a growing portfolio of clients in 34 countries across the globe. Iris via its wholly-owned unit Iris Information Technology Systems Sdn Bhd (IITS) has bagged the National Integrated Immigration System (NIIS) project worth over RM1.6 billion from the government. 

OpenSys (M) Berhad

OpenSys (M) Berhad is one of the bigger companies that provide excellent support to the financial services, telecommunications and utility industries. The company provides services in the area of project management, software engineering, system integration and training. OpenSys’s net profit increased 41.2 per cent to RM3.07 million in the third quarter ended September, 2020 from RM2.17 million recorded in the same quarter last year.

Systech Bhd

Led by Raymond Tan Hock Ann, Systech Bhd is an investment holding company listed on the ACE Market of Bursa Malaysia Securities Berhad, under the technology sector, since 2011. The Systech Group is principally involved in three key business segment – e-business solutions, cyber security and e-logistics. Shares in Systech Bhd rose to its highest in about five months in 2020 following a technical buy from PublicInvest Research. 

N2N Connect Berhad 

Led by Andrew Tiang, N2N Connect Berhad provides capital market players  an enterprise-wide integrated trading and settlement solution. The company has 228 employees and it provides services such as market data, news, information and server colocation encompassing managed services for servers, networks and security. The company has provided services to 700 brokers. N2N’s existing operations were not affected by Covid-19 and more than 90% of the company’s revenue is on a recurring basis.


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