Home News Archives for November 2018

Month: November 2018

Censof Inks Strategic Partnership With Singapore’s Millet Holdings

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Singapore, 28 November 2018 – In an MOU signing between Censof Holdings Berhad and Millet Holdings, a strategic partnership was inked that would provide Millet with market access to Malaysia, where Censof has an established base of more than 407,000 small and medium enterprises (SME) customers since 2008.

“We are delighted to announce our strategic partnership with Millet Holdings. We strongly believe that both companies, can leverage from each other’s strengths to create synergies and develop smart innovative solutions for the Malaysian market.” said Ameer Shaik Mydin, Group Managing Director at Censof Holdings Berhad.

“Our objective is to ensure SMEs embrace digital transformation and through this collaboration we believe that it will be a big step towards making this vision a reality. With this in mind, the new offerings through this partnership will be a leap forward for our SME customers.”

The MOU will see Millet collaborate with Censof Holdings Berhad on a range of business opportunities that include creative place and space making, creating physical and digital co-working platforms for SMEs in the creative industries, as well as providing consultancy and business solutions using emergent technologies across Malaysia.

A pipeline of projects is in the works which will leverage on Millet’s wide-ranging expertise marrying the use of emergent technology. Key projects include the master planning of a SMART CITY with real estate technology solutions Future@Malls and MetaverseCreator by Metaverse, an integrated children technology theme park, Future@Work and Cave Automatic Virtual Environment, an immersive teaching-learning environment for children to experience, experiment and create through the use of new technologies such as virtual reality, augmented reality, holograms and 360 degrees video.

Executive Director at Millet Holdings. “This marks a tremendous milestone for Millet Group as we ink the MOU with Censof Holdings Berhad. This collaboration with a prominent public listed company from Malaysia affirms our value proposition strongly as a group – Millet has know-how in placemaking, regional connectivity and access to emergent technology within its group businesses. Combined with Censof’s domain knowledge of digital technology and market access in Malaysia, we are confident of gaining greater traction amongst SME businesses to provide innovative solutions in this new technology-driven business landscape.”

RHB Partners ABSS and PayNet, Offers JomPAY at Zero-Cost to SMEs

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RHB Bank Berhad partners Asian Business Software Solutions Sdn Bhd (ABSS) a subsidiary of Censof Holdings Berhad and Payments Network Malaysia Sdn Bhd (PayNet) which operates Financio and JomPAY respectively, to offer a zero-cost payment platform to Small and Medium Enterprises (SMEs) in the country.

This partnership will benefit all SMEs using RHB’s e-Solution which provides Financio, a cloud-based accounting software by ABSS.

Financio is a component of RHB’s e-Solution, aimed at empowering SMEs to optimise business efficiency. RHB SME customers will now be able to conduct payment transactions and receive JomPAY payments from their customers using e-Invoice solution at zero-cost.

The zero-cost which was put into effect yesterday, is expected to benefit all SMEs as e-commerce increasingly grows in Malaysia, and will likely to rise further to more than 20 per cent a year by 2020.

“This strategic collaboration with ABSS and PayNet is a significant milestone in RHB’s aspiration to simplify SMEs’ business journey by offering both financial and technology-based solutions.

“Through the RHB SME e-Solution, SMEs will be able to enjoy an all-in-one-hassle-free solution that will contribute towards greater productivity and profitability.

“In 2017, RHB saw a total of 834,000 transactions processed via JomPAY and through this partnership today, we are targeting to increase the participation of SMEs to 2,500 by end of 2018,” said RHB Banking Group, head of group business and transaction banking, Jeffrey Ng Eow Oo.

JomPAY is Malaysia’s national bill payment scheme, under the auspices of Bank Negara Malaysia with the participation of banks and large billers.

JomPAY offers an accessible and convenient bill payment ecosystem for consumers, banks and billers, open to customers from 40 banks across Malaysia, allowing customers to pay bills via Internet & Mobile Banking or ATMs nationwide.

“We are honoured to collaborate with RHB and ABSS to offer JomPAY as the preferred payment collection service.

“I trust SMEs will enjoy cost savings, efficiency improvements and greater convenience with JomPAY,” said PayNet Group chief executive officer, Peter Schiesser.

The Financio e-invoice solution, he added, will automatically incorporate the JomPAY Customer Reference Box in the e-invoice to ensure easy activation and convenient acceptance of payments for SMEs through JomPAY.
ABSS, chief executive officer, Paul Conway concur his excitement to work together as this opportunity will offer SMEs more innovative and cost-effective solutions.

“SMEs remain a largely underserved segment, even while we recognise they are key drivers of the economy.

“There is an enormous number of smaller enterprises eager to find business software that is flexible, easy to pick up and use.

“We believe with the addition of JomPAY to Financio, there is great scope to deliver robust financial management services that can help SMEs grow faster and remove pain points,” he concluded.

Apart from Financio, RHB SME eSolution also offers Business Current Account, RHB REFLEX an integrated internet banking platform, Kakitangan.com’s Human Resource & Payroll Solution and electronic point-of-sale systems powered by Storehub and ARMS.

Other benefits of RHB SME e-Solution, include the offering of credit and debit card terminals to enable card transactions, and customised SME insurance packages specifically for SMEs to protect their businesses.

In addition to that, RHB SME e-Solution also offers business credit cards to help them with expenses and payment plans.

Censof, Soft Space’s Subsidiary Signs MoU for Growth in Southeast Asia

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KUALA LUMPUR, Sept 27 – T-Melmax Sdn Bhd (T-Melmax), a wholly-owned subsidiary of Censof Holdings Bhd (Censof), has signed a memorandum of understanding (MoU) with Fass Payment Solutions Sdn Bhd (Fasspay) to drive potential capital growth, improve market access, and procure various business deals together in Southeast Asia.

The MoU will enable Fasspay, a wholly-owned subsidiary of Asia’s leading fintech company Soft Space Sdn Bhd (Soft Space), to gain access to the vast list of T-Melmax’s clientele via Censof, while T-Melmax will be able to leverage on Fasspay’s payment technologies for further growth.

In a statement, Censof group managing director, Ameer Shaik Mydin, said, “We are pleased to join hands with Fasspay and Soft Space, a leading and innovative payments player in the region.”

“Our platform will enable Soft Space to expand its presence within a short time frame and without specific payment barriers whilst delivering the highest quality and security standards. Both parties mutually benefit from the partnership due to greater market penetration and access to new client segments,” he added.

Century Software Announces Go-Live Implementation Of HiDEF CRS

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PETALING JAYA, Sept 7 – Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad (“Censof”) announced today that Lembaga Hasil Dalam Negeri Malaysia (LHDNM) portal called HASiL International Data Exchange Facility (HiDEF) Common Reporting Standard (CRS) is now live.

Demands for more standardised levels of tax reporting compliance at the international level have been increasing over the last decade. Co-operation between tax administrations is critical in the fight against tax evasion and protecting the integrity of tax systems. A key aspect of that co-operation is exchange of information. The Common Reporting Standard (CRS) contains the due diligence and reporting requirements that are the foundation of automatic exchange.