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Censof Bags RM10.12 Million Contract from Ministry of Finance

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Kuala Lumpur, 6 January 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, through its wholly-owned subsidiary, Century Software (Malaysia) Sdn Bhd (“Century Software”) has accepted the Letter of Award from the Ministry of Finance (“MOF”) to provide maintenance and support services for the Malaysian government’s budget management information system, MyResults.

The contract, which is valued at RM10.12 million is for the tenure of twenty-four (24) months from 1 January 2021 to 31 December 2022.

“We are honored to be entrusted by MOF to be the provider of the maintenance and support services for MyResults on the Outcome-Based Budgeting for the government of Malaysia. This project was developed by Century Software for the MOF and was completed back in May 2019. Following the completion, we were awarded with the maintenance and support services in December (2019). Today, we are proud that we are once again being entrusted to provide the same services for another 2 years. We truly appreciate the confidence which MOF has placed in us as this fundamentally testifies our technical capabilities and deep expertise to deliver the end results. Being an innovative technology company, we will continue to enhance our solutions and systems in response to evolving technologies, going forward,” said Ameer Shaik Mydin, group managing director of Censof.

MyResults is an Outcome-Based Budgeting platform, of which high-level national strategies are linked to specific budget programmes and activities. This aims to improve the government’s resource management endeavors while enhancing transparency and accountability. As this budget system is integrated across the various ministries, government officials are able to plan their budgets more effectively.

Moving ahead, Century Software continues to strive for excellence in their products offerings. Over the last three (3) months, the Company has successfully secured three (3) new Government Resources Planning (GRP) contracts with the Board of Quantity Surveyors Malaysia, Yayasan Guru Tun Hussein Onn, and the Medical Device Authority with the total contract sum of RM1.38 million. In addition, Century Software has also secured upgrades services for its existing clients, namely the National Visual Arts Development Board, Lembaga Juruukur Tanah Malaysia, Malaysia Productivity Corporation, Bintulu Port Authority, Lembaga Pelabuhan Kuantan, and Railway Assets Corporation, bringing the total contract sum to RM4.69 million.

 

Moneysave Crowdfunds 100 Investments with Average Annual Returns of 13.96pct

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Moneysave chief executive officer Vincent Soh says investors are yielding average returns of 13.96 per cent per annum with an average tenure of 2.3 months. Most notes were subscribed in less than 12 hours.

 

KUALA LUMPUR: MoneySave has crowdfunded its 100th investment note on November 27 with a total of RM7.68 million invested since its launch seven months ago. Moneysave is a peer-to-peer crowdfunding platform registered with the Securities Commission. “Investors are yielding average returns of 13.96 per cent per annum with an average tenure of 2.3 months. Most notes were subscribed in less than 12 hours,” Moneysave chief executive officer Vincent Soh said in a statement.  With its “world’s first risk reduction” incentives, MoneySave said it had been able to maintain a zero per cent default rate for the last 100 investment notes that it had hosted and disbursed.

“Typically investors yield was between 7.50 per cent and 16 per cent per annum with tenure of investments between one to four months only. Our credit team led has been extremely careful in approving the deals as we target to maintain the lowest default rate in the industry i.e. zero per cent!” quipped its chief credit officer Eddy Lam, who has more than 35 years of credit and risk management experience with Hong Leong Bank Bhd, Standard Chartered Bank, DBS Bank, RHB Bank Bhd and Malayan Banking Bhd.

MoneySave said it focused on the digital e-commerce supply chain and also the suppliers and contractors of the government, ministries, agencies and government-linked companies as well as companies such Telekom Malaysia Bhd, Tenaga Nasional Bhd, Sime Darby Bhd, Maybank, Petronas, Axiata Group Bhd, Maxis Bhd, Public Bank Bhd and other Bursa Malaysia’s top 100 companies.

“We are here to complement the various government initiatives such as under Malaysia’s Prihatin Rakyat Economic Stimulus Package, Bank Simpanan Nasional, Tekun Niaga Financing Scheme, Soft Loans for SMEs, Penjana SME Financing, SME Bank, Mara, Special Relief Facility by Bank Negara Malaysia, Credit Guarantee Corporation, Syarikat Jaminan Pembiayaan Perniagaan and SME Corporation,” Soh said

 

Censof Delivers Profit After Tax of RM12.9 Million for First-Half Results

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KEY HIGHLIGHTS
· Q2FY2021 revenue grew by 16.7%.
· PAT subsequently increased by over 15-fold.
· Disposal of 117.1 million Dagang Nexchange Berhad shares contributed to PAT growth.
· Maiden contribution from newly acquired 51% stake in Netsense Group.
· Secured more than ten (10) new cloud-based financial management solution contracts from the Government and Commercial sectors.
· Improvement in its gearing ratio to 0.004 times as compared to 0.40 times in previous financial year end as at 31 March 2020.

KUALA LUMPUR – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, reported an over 15-fold surge in profit after tax (“PAT”) to RM4.8 million for the second quarter ended 30 September 2020 (“Q2FY2021”) as compared to Q2FY2020’s RM0.3 million. The PAT growth was partly attributed to a RM2.1 million gain on the disposal of its stake in Dagang Nexchange Berhad completed during the quarter. Revenue for Q2FY2021 saw a 16.7% increase to RM18.0 million from Q2FY2020’s RM15.5 million.  The higher revenue for the current quarter was mainly attributed to the higher contribution from its Government – Financial Management Solution and Commercial – Financial Management Solution segments, which also includes contribution from the Netsense Group, which was acquired earlier this year.

For the first half of FY2021, the PAT’s 492.8% YoY growth was, amongst others, attributed to the RM8.9 million gain on fair value adjustment on quoted investment recorded in Q1FY2021.

“We are very pleased with our second quarter results which was a spill over from the first quarter’s commendable performance. We operate with a highly focused management team, thus providing us with the best opportunities to generate stable operating revenue and earnings, as we continue to secure projects, both on the government and commercial front. In view of this, we have since signed more than ten new cloud-based financial management solution contracts and have successfully secured over five thousand subscribers under our SME accounting solutions (Financio). Moving forward, amid the current COVID-19 pandemic, we will remain cautious of the challenging economic landscape.” said Ameer Shaik Mydin, managing director of Censof.

Censof Holdings Berhad Fast-Tracks into ePayments and Fintech Solutions

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Kuala Lumpur, 28 September 2020 – Censof Holdings Berhad announced today its joint venture with Green Packet Berhad into integrated payments and fintech solutions through T-Melmax Sdn Bhd, a payment processing technology company owned by Censof Holdings Bhd, a company that specializes in financial management software solutions.

The acquisition also marked the establishment of a new joint venture between Censof Holdings Berhad and Green Packet Berhad as they worked together towards a joint vision of transforming T-Melmax into a digitally driven, real time multi-layer reporting preferred payment gateway service provider. Their move is strategic as they will be able to fill the gap in the market for SMEs, state government programs and enterprises who are looking for a one stop provider that is able to combine the power of real time cashless payments and accounting into a truly integrated seamless solution with end to end financial reporting analytics.

Established in 2002, T-Melmax Sdn Bhd focused on digitally automating and the simplification of handling and processing of bulk payment, bulk collection and other types of payments. Together with Green Packet’s innovative payment solutions, we believe we could provide a one stop payments and collections solution to our large base of financial management systems in government agencies and SME’s in Malaysia, Singapore and Hong Kong.

Censof Group Managing Director, Encik Ameer Shaik Mydin said, “The need for Digital payments is a norm in today’s world. We often hear e-payments or electronic wallet becoming the core of daily business operations. The combined strength between T-Melmax and Green Packet will ensure delivery of digitalized strategies, products, and services in supporting our new digital Malaysia, especially in these unprecedented times of rapid change that require us to innovate faster more than ever.”

“Head of Treasury, CFOs, financial leaders, and accounting teams everywhere need to strategically implement different digital tools as soon as possible to reap the rewards of greater productivity, efficiency and value-add for their organizations. T-Melmax has been a trusted provider for various government and agencies for various statutory payments and this partnership will help both companies leverage complementary strengths and bring greater value to our combined base of customers,” said CC Puan, Group MD of Green Packet.

“Digital payments is the core need of every company. The combined strength of T-Melmax and Green Packet will seed further digitalization strategies to a new digital Malaysia, in line with the government initiative towards digital transformation”, added Giritharan Nagalingam CEO of T-Melmax.

Censof Holdings Bhd and Green Packet Bhd are members of the GAIN programme, facilitated by the Malaysia Digital Economy Corporation (MDEC) to catalyse the expansion of Malaysian tech companies to soar on the global stage.

“This joint-venture demonstrates the muscles of our GAIN network and homegrown tech leadership. MDEC commends Green Packet and Censof for working collaboratively to create solutions that accelerate business automation and digitalisation to boost the growth and business footprint of local companies. We look forward to more of such partnerships to augment Malaysia’s pursuit to be the Heart of Digital ASEAN,” said Gopi Ganesalingam, Vice President of MDEC’s Global Growth Acceleration Division.

Censof and Green Packet’s continuous focus as key digital financial services platform providers on empowering the masses will further help to drive an inclusive cashless agenda across different communities, from instant disbursement of funds for government aid/benefits to powering small merchants and student communities. This strategic collaboration between Censof and Green Packet will look towards enabling every individual to thrive with life-improving digital innovation.

Censof Subsidiary, ABSS Partners With DBS Hong Kong To Help SMEs Manage Their Finances

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KUALA LUMPUR, May 22 (Bernama) — Asian Business Software Solutions Pte Ltd (“ABSS”), a 58%-owned subsidiary of Censof Holdings Berhad (“Censof”) has entered into a partnership with DBS Hong Kong. Under this partnership, SME clients of DBS Hong Kong will be provided with Financio, an all-in-one cloud based accounting software designed for small businesses.

Censof Group Managing Director, Encik Ameer bin Shaik Mydin said, “We are pleased to be working together with DBS, a leading financial services group in Asia with a presence in 18 markets. This partnership is timely as more SMEs are looking to embark on their digital transformation journey, in view of the current Covid-19 pandemic outbreak. Integration between a DBS business account and Financio can be done digitally without the need to visit any branch nor fill in any paper forms.”

By integrating a DBS business account with the platform, DBS Hong Kong SME clients will be able to transfer their data to Financio securely and automatically every day.

SMEs will get real-time reports, automated book-keeping, invoice-purchasing and management of cash flow reports. This will equip SMEs with true efficiency and productivity gains, so that they can focus on growing their business.

There will be in-app support from Financio, a Cantonese-speaking help desk, and a Traditional Chinese and English interface.

Chief Executive Officer at ABSS Pte Ltd, Mr. Rhys Brown said, “We are excited to extend our regional partnership to include DBS Hong Kong. With over 100,000 customers already in Hong Kong, we understand the challenges SMEs face. Limited access to capital, workforce shortages, the pressure to sustain and grow both domestically and globally are all part of the daily struggle. Now more than ever, SMEs are looking for local, cost-effective solutions to streamline business processes and ensure good cashflow visibility. Our strategic partnership delivers an unabridged offering that will enable SMEs to save time and money – resulting in greater business prosperity.”

Alex Cheung, Managing Director and Head of Institutional Banking Group, at DBS Hong Kong, said. “As a leader in SME banking, DBS Hong Kong fully understands the needs of SME customers, particularly during the current challenging environment. With many small business owners spending countless hours manually importing and reconciling their bank statements every month, we believe our pioneering partnership with Financio helps equip our SME customers with true efficiency and productivity gains, so that they can focus on growing their business.”

Incentive to support SME’s digital transformation
DBS Hong Kong customers subscribing to the Financio Premium service can enjoy a 30-day free trial period, and a nearly 20% discount off the price of Financio’s annual plan when subscribing to the service during the trial period.

Censof Gets RM4mil IRB Contract

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PETALING JAYA: Censof Holdings Bhd’s unit has bagged a government contract worth RM4mil from the Inland Revenue Board (IRB).

In its filings with Bursa Malaysia, the company said its wholly owned subsidiary, Century Software (M) Sdn Bhd, had accepted a letter of award from the IRB to implement an accounting software system.

The contract was for a period of three years, commencing from March 1, 2020 to Feb 28, 2023.

Censof said the contract is expected to contribute positively to its earnings per share and future earnings. It added that the job is not expected to have any material effect on the issued and paid-up capital, substantial shareholders’ shareholding, net asset per share and gearing of the company and its subsidiaries.

Pagero and ABSS Partners to Support e-Invoicing in Singapore and Asia

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February 4th, 2020

The new partnership offers an electronic invoicing solution that helps small and medium enterprises save time, reduce errors and improve business growth. ABSS users can become Peppol-ready instantly through their existing ERP and fully compliant in all their trading transactions.

ABSS and Pagero signed their new strategic partnership in 2019. The agreement combines the ABSS ERP solution focused on small and medium enterprises with Pagero’s open, cloud-based business network for automated exchange of business documents across Accounts Payable and Accounts Receivable processes.

Since entering the partnership, ABSS and Pagero teams have worked in coordination with IMDA in Singapore to achieve Peppol accreditation; the companies now offer a fully complaint solution to meet IMDA standards. In parallel, the partnership will allow both companies to offer their integrated solutions to the regional market.

Rhys Brown, CEO of ABSS says, “ABSS is very excited to partner with Pagero, the leading global e-invoicing service provider. Together we bring improved invoicing efficiency to over 30,000 Singapore SMEs. ABSS accounting solutions combined with the Pagero technology framework will help SMEs save time, reduce errors and improve business prosperity in Singapore.”

Luis Ortega, Managing Director for Middle East, Africa, Asia at Pagero states, “In the everchanging world of e-invoicing regulations and governments extending their digital footprint, companies need an agile technology platform and expert consulting services to maintain local compliance with cross-border operations. Our partnership with ABSS will help their customers across Singapore and Southeast Asia stay compliant in the face of changing regulations and multiple jurisdictions. We are pleased to see how Australia and New Zealand, as well other Southeast Asian countries, have adopted or are looking into Peppol as their standard for e-invoicing as this will facilitate interoperability in cross-border trading processes.”

For small and medium enterprises operating in the Southeast Asia region, it’s important to prepare for new regulatory developments in the digital trading, tax, accounting and financial reporting landscape – regionally and abroad—in a pragmatic way and at reasonable cost. There is a rising trend pushing businesses, as part of their digital transformation journey, to become digitally compliant in all their trading transactions. The adoption of e-invoicing, seamlessly integrated with their ERP or accounting solutions, will improve business efficiency, quality of data and reduce errors. Businesses will easily meet compliance needs locally and globally while reducing their total operating costs.

Knowledgecom signs MOA with 10 technology and training partners for BEYOND4

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Kuala Lumpur, 16 January 2020 – Knowledgecom Corporation Sdn Bhd (“KCOM”), a subsidiary of Censof Holdings Berhad (“Censof”) and 10 technology and training companies exchange Memorandum of Agreements (“MOAs”) today to outline their respective participation in the BEYOND4 initiative.

Over the span of a decade, KCOM has evolved into a leading local industry player in the design and delivery of Information Technology training programmes. Now spearheading BEYOND4, the company aims to integrate Industry Revolution 4.0 (“IR 4.0”) practices and technology into business operations.

The BEYOND4 initiative consists of a neutral, non-competing open vendor ecosystem in training, technology and strategic partnership. The goal is to drive digital transformation as value exchange, fostering synergy among alliance partners to collaborate and innovate.

Chief Executive Officer of KCOM, Mr. S. T. Rubaneswaran said, “As the world move towards the IR 4.0 era, there is rising demand to upskill and prepare the workforce to embrace new trends and developments impacting our manufacturing and service industries.”

“Starting from Malaysia, we plan to expand this initiative further by replicating this model throughout the South East Asia region. Our goal is to attract 50 technology and training partners in each country to form a strategic and collaborative alliance to propel the adoption of digital technology in the respective countries.”

This will also tackle the issue of decreasing job opportunities faced by the growing middle-income population and the Non-STEM (Science, Technology, Engineering and Mathematics) workforce.

The BEYOND4 ecosystem saw the exchange of MOAs between ten partners today which include: –
1. Knowledge Group Consulting Sdn Bhd
2. CXS Analytics Sdn Bhd
3. Loops Solution (M) Sdn Bhd
4. Bureau Veritas Certification (M) Sdn Bhd
5. Dagang Net Technologies Sdn Bhd
6. Quandatics Academy Sdn Bhd
7. AceStar Sdn Bhd
8. Trainocate (M) Sdn Bhd
9. GKK Consultants Sdn Bhd
10. Secure IOT Academy Sdn. Bhd

KCOM’s other digital transformation efforts include its tie up with Hong Leong Financial Group Berhad via HLX Management Sdn Bhd, an innovation exchange startup wholly owned by property arm GuocoLand Malaysia Berhad, to operate a digital campus at Menara HLA.

Knowledgecom Wins CertNexus’ APJC Authorized Training Partner of the Year Award

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Rochester, NY (PRUnderground) –

CertNexus announced that KnowledgeCom was named APJC ATP of the Year at the inaugural Partner Meeting and Award Ceremony in Rochester, NY.

Awarded to exemplary CertNexus Authorized Training Partners (ATP), the ceremony was designed to recognize partners with consistent representation of CertNexus products and committed to outstanding performance.

“KnowledgeCom has only joined us within the past year but they have accelerated their onboarding process and deliver of providing CertNexus solutions,” said Jeff Felice, President of CertNexus, “They have become one of the most consistent and largest training partners in the APJC region in such a short time.”

“KnowledgeCom Corporation is a specialized company that aims to upskill the workforce of the nation by training and certifying students from public and private universities, fresh graduates, government servants and professionals,” said Rubaneswaran Thevasenabathy, CEO at KnowledgeCom

Censof Completes Acquisition of 51% Stake in ERP Software Provider, Netsense Business Solutions

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Kuala Lumpur, 3 January 2020 – Censof Holdings Berhad (“Censof”) has completed the acquisition and subscription of a 51% stake in enterprise resource planning (“ERP”) software provider, Netsense Business Solutions Sdn Bhd and Netsense Business Solutions Pte Ltd (“Netsense Group”) for approximately RM 0.64 million.

With offices in Singapore, Kuala Lumpur and Jakarta, Netsense Group offers a wide array of business solutions ranging from Acumatica Cloud ERP Software, Accounting Software, CRM, HR Solutions, Payroll, Project Management, Business Intelligence Tools, Customised Dashboards, Mobile Apps and e-Commerce Solutions. Censof is an OEM partnership with Acumatica Inc., a leading innovator in cloud ERP that enables technology partners like Censof to customize its applications to suit the needs of end-users

Censof Group Managing Director, Encik Ameer bin Shaik Mydin said, “Having built a strong market presence in providing financial management solutions to the public and private sector, we have in recent years expanded our service offerings to include other functions such as human resource management, customer relationship management, e-commerce and many others.”

Censof as a group is an established market leader in the SME industry. This acquisition will only strengthen the presence and complement our position in the SME industry.

“By acquiring Netsense, a company with an existing portfolio of SME clients who are using the Acumatica ERP application, this will fast track our expansion into the private sector. We look forward to this venture with Netsense Group and incorporate our other technologies within the Group to deliver innovative solutions that support the business growth of SMEs,” he added.
With the rapid advancement of technology, the SMEs’ requirement for increasing automation and productivity in their business is evolving day by day. This need will serve as an opportunity in creating demand for an industry specific EPR solution.

Netsense Chief Executive Director, Abdul Rehman Khalid said, “A partnership with Censof came at the right time, as we have planned our next major leap into the implementation of industry specific solutions for SMEs such as the Acumatica Field Service edition, Construction edition and Manufacturing edition.”

“To add on, we have also made arrangement for payment plans such as monthly payments, so that our SME clients can adopt these systems without affecting their cashflow.”

The equity stakes in the two newly acquired companies, Netsense Business Solutions Sdn Bhd and Netsense Business Solutions Pte Ltd will be held by Censof Holdings Berhad, and not Century Software (M) Sdn Bhd as previously announced in May 2019.

Netsense Group currently supports around 90 reputable clients across more than 15 industry verticals. The industries served are retail, distribution, trading, professional services, logistic, F&B, manufacturing, pharmaceutical, construction and supply chain management, amongst others.