- Hospitality, F&B and retail management solutions
- Network security solutions
- Collaborative Fulfilment Management solutions
- Business consulting services
Cuscapi's major business comes from its business management solution by providing point-of-sales solutions to its customers. In 2003, it has developed its in-house F&B business management solutions software application known as Transight Smart Service Suite and was estimated to have a market share of 70-80% in 2008.
For the last 3 consecutive quarters, Cuscapi's net profit is in a reducing trend. The reasons given by its management is the same for the last 3 quarters: delay in materialization of certain significant projects and increased operating expenses.
Previously, Cuscapi sold the hardware to its customers and just received some service & maintenance fees thereafter.
If this is materialized, and we assume a conservative net profit margin of 10%, Cuscapi's net profit from REV by 2015 will be RM30mil. This would give an estimated EPS of 7sen (profit from REV alone, base on 433mil shares, excluding future warrant conversion), or fair value of at least 70sen if PE is 10x.