Azeus Systems Holdings

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
#11
Prof Mak has attended countless AGMs and so I guess getting his thumbs-up means something. Also a vote for Convene AGM solution I guess?

AZEUS SYSTEMS HOLDINGS’ AGM: A SEAMLESS HYBRID MEETING

This morning, I attended the hybrid AGM of Azeus Systems Holdings as an observer. I was invited to attend and had the option of attending in person or electronically, and opted to attend in person. I had also attended its hybrid AGM as an observer in person last year.

On the two test questions that the company conducted about virtual meetings , the results are not surprising. A total of 78.64% of the shares which voted preferred hybrid meetings, while 16.64% preferred physical only meetings. Only 4.72% preferred entirely virtual meetings. The top 3 reasons for why hybrid meetings should be adopted were “Maximises reach” (33.2%), “Better engagement” (31.31%) and “Greater transparency” (28.64%).

https://governanceforstakeholders.com/20...d-meeting/
Reply
#12
Azeus's FY23 results have tapered off compared to FY22's turbocharged gain from operating leverage, as employee and sales/marketing costs increased. Nonetheless it remains to be seen whether the investments in these costs will help to bring about further improvement in sales in the future.

On Azeus's balance sheet, contract liabilities are services paid in advance by customers on a subscription basis. And contract liabilities are as follows - FY23:86mil, FY22:68mil, FY21:64mil and FY20:37mil.

Does the jump in contract liabilities for FY23 suggests that adoption of their SaaS products are accelerating and the immediate future bodes well?

FY23 results: https://links.sgx.com/FileOpen/Azeus%20G...eID=761098
Reply
#13
Rainbow 
Azeus@SGD8.5

Should be from Azeus product "Convene Records" aka from the product and implementation services of the HK$1.0 billion contract -  Central Electronic Record Keeping System (CERKS) awarded by HK Government in May 2022.  Revenue expected to be contributed until FY2037.

See page 8 of latest Annual Report

See page 31 of latest Qtr report
Reply
#14
(06-06-2023, 10:19 PM)¯|_(ツ)_/¯ Wrote: Azeus@SGD8.5

Should be from Azeus product "Convene Records" aka from the product and implementation services of the HK$1.0 billion contract -  Central Electronic Record Keeping System (CERKS) awarded by HK Government in May 2022.  Revenue expected to be contributed until FY2037.

See page 8 of latest Annual Report

See page 31 of latest Qtr report

A shareholder has asked about the contract liabilities and it seems they are not related to the CERKS contract! Usage seems to be accelerating!

What percentage of Contract Liabilities are related to the Records deal? Will you break this out in the future?

- As of 31 March 2023, there are no Contract Liabilities related to the CERKS project. On the other hand, there was a balance of HK$14.3 million (equivalent to US$1.9 million1 ) which was recorded under Contract Assets. HK$4.3 million (equivalent to US$0.6 million1 ) was subsequently realised as the payment milestone was reached as per the Contract requirement.

- Note 16 on page 62 of the Annual Report disclosed the breakdown of Contract Assets and Liabilities by segments, in compliance with disclosure requirements. We have not historically disclosed details of specific projects due to confidentiality.

https://links.sgx.com/FileOpen/Response%...eID=766488
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)