Rexit Berhad is looking for acquisitions. InfoGuardian is an integrated workflow, case management and document management system specially designed for the financial and legal services industries, to provide and facilitate an on-line information sharing environment for multiple users within and outside client organizations. The 'local' partners with a comprehensive knowledge of the local business environment will be in the best position to provide the necessary linkages to the government and the business sectors.

The products support the entire spectrum of insurance processes and operations spanning from the external sales and marketing processes through the various distribution channels which include agents, brokers and banks through to the internal operations that involve the management of intermediaries and service providers, policy administration, underwriting, customer services, claims management, compliance, reinsurance, etc. Rexit also has the capacity to provide solutions and data management services for large scale nationwide implementations and support various government initiatives. He started his career with Power Computer Supplies Sdn Bhd as a programmer in 1989, during which he was instrumental in defining and re-developing additional insurance core modules.

This growth is attributed mainly to the increase in software customisation services, and the on-boarding of a new client in the last quarter of fiscal 2023 initially contributing to e-Cover motor services. Income from software-based activities has increased mainly due to higher software customisation services arising from clients' digital initiatives in business processes and products, and the on-boarding the on-boarding of a New client in the last quarter of FY2023 initially contributing to e- Cover motor services. Income from investments decreased mainly due to a decrease in distribution income from long-term investments in quoted funds which have matured in fiscal 2022.

The Group constantly conducts research and development activities to keep its products and services relevant to its clients. As a solution and service provider to the Insurance and financial services which is highly regulated, Rexit is also in a niche market whereby its products are not overly exposed to the risk of obsolescence. mySalam Outsourcing Services Agreement.

The mySalam Outsourcing Services agreement is expiring on 31st December 2023. The client has written to propose to extend the Agreement for an additional year, from 1st January 2024 to 31st December 2024. The Group will continue its research and development efforts to expand and extend the e-Cover services to the financial services sector and other segments of e-commerce by leveraging on the large 24x7 secured e-Cover infrastructure.

This upgrade provides the needed quality assurance to clients of excellent service with 99.50% uptime which further strengthens Rexit's competitive edge in the provision of secure, dependable, trustworthy, reliable service and more importantly 24x7 service availability to clients. To further ensure business continuity in the event the main office is inaccessible due to force majeure or any unforeseen circumstances, have an agreement with a company whereby could move essential operations to their centre at any time giving short notice. The Board's main responsibility is to lead and manage the Group in an effective manner including developing strategic directions and objectives in line with its vision and missions, implement plans and supervise the conduct of the Group's business as a whole.

The External Auditors can be engaged to perform non-audit services that are not perceived to be in conflict with their role as External Auditors. There were no material contracts entered into by the Company and/or its subsidiaries during the financial year ended 30 June 2023 involving the interest of Directors and/or major shareholders. The company conducted audit in accordance with approved standards on auditing in Malaysia and International Standards on Auditing (ISAs).

Revenue recognition for software-based activities required significant judgement in identifying each separate element of the contracts (for example license, maintenance and subscription), when sold together in a bundle. Reviewed samples of new and ongoing contracts (for example license, and ongoing contracts, and/or its subsidiaries during its financial year ended 30 June 20 23, 2022.