ISS Consulting to register stronger earnings growth. Recall on 12 October 2009, Formis Resources (FR) acquired 59.3% of ISS Consulting (ISS) via a reverse takeover i.e. disposal of Diversified Gateway (a wholly-owned subsidiary of FR) in exchange for ISS shares. While ISS reported a net loss of RM0.7m in FY12/09, we expect the company to be in the black in 2010 mainly due to:
1) maiden contribution from Diversified Gateway (DGB); and
2) stronger contribution from highermargin proprietary products vis-à-vis the low-margin consultation and management services.
Formis Resources Berhad : Major Contract On The Platter-21/04/2010
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