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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

by Dimple Dimple No Comments

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

by Dimple Dimple No Comments

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.

Industry Players Urged to Assist Government to Give IR 4.0 Education

by Dimple Dimple No Comments

KUALA LUMPUR, Dec 10 — Industry players are urged to assist the government in providing education to the community in information communication technology (ICT) in facing the challenges of the industrial revolution 4.0 (IR 4.0).

Communications and Multimedia Minister Gobind Singh Deo said the effort was to ensure every strata of society especially those living in the interior regions and the senior citizens were not left out of the rapid development in the world technology.

“We want all sectors of the industry to participate in our initiatives to educate the general public on how they could use the IR4.0 infrastructure for their benefit,” he said after witnessing the exchange of the Memorandums of Understanding (MoA) between Knowledgecom and HLX for the development and implementation of Industrial Revolution 4.0 at Menara HLA today.

The exchange of the MoA documents were represented by KCOM Group Chief Executive Officer S.T. Rubaneswaran and HLX was represented by Guacoland Malaysia Berhad Executive Director Lee Wee Kee.

Commenting on the agreement between the two companies, Gobind said the effort could become an example for more groups to share expertise to develop IR4.0.

“This is an example how industries used the ability of their workers to assist other industries and for us to reskill them by sharing the other skills that they have for better benefits,” he added.

– BERNAMA

Knowledgecom Welcomes New shareholders from Millet World

by Dimple Dimple No Comments

Kuala Lumpur, 23 December 2019 – Knowledgecom Corporation Sdn Bhd (“KCOM”), a subsidiary of Censof Holdings Berhad (“Censof”) welcomes new strategic shareholders at its Singapore subsidiary, Knowledgecom Pte Ltd (“KCOMS”), with the aim of strengthening its market presence in Singapore.

Speaking at the signing ceremony, Chief Executive Officer of KCOM, Mr. S. T. Rubaneswaran said, “There is rising demand for programmes to upskill and prepare the workforce for the Industry 4.0 era. Our expansion into Singapore is a great way for us to gain recognition as a formidable training provider that accelerates the digital skills of the workforce to become future ready.”

A leading player in designing and delivering Information Technology training programmes for more than 10 years, KCOM is spearheading Beyond4, an initiative to integrate Industry 4.0 practices and technology into businesses’ operations.

In Malaysia, KCOM has tied up with the 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.

Today, KCOM signed a share sale agreement to strategically divest 30% of its stake in KCOMS to Mr. Philip Teng Chee Wan and Dr. Sharon Lim Siok Lin for SGD 300,000 (equivalent to approximately RM918,000 based on exchange rate of SGD1:RM3.06). KCOM will retain a 70% interest in KCOMS.

This follows the partnership announced on 18 April 2019 with Millet World Pte Ltd (“Millet World”) for both parties to collaborate and develop business in education, training and skills development in emergent technologies.

Mr. Philip Teng and Dr. Sharon Lim, whom are directors of Millet World, have many years of academia, research and training background, and experience in Deeptech, Fintech, Internet of Things (“IoT”), as well as business and property investments. Mr. Philip Teng has a Masters in Electrical and Computer Engineering in Carnegie Mellon University while Dr. Sharon Lim earned her Doctorate degree in Computer Science from Royal Melbourne Institute of Technology. Both of them have a strong business network within Singapore and the ASEAN region and are passionate about accelerating businesses’ growth via regionalization.

Mr. S. T. Rubaneswaran concluded, “KCOM is pleased to welcome these two highly capable individuals onboard. We hope to leverage on Mr. Philip and Dr. Sharon’s strong expertise and knowledge to strengthen our market footprint in Singapore and potentially, throughout the ASEAN region.”

“Their invaluable input will enable us to develop suitable programmes that cater to the Singaporean workforce and businesses. Furthermore, they can also open doors for us to work together with Singapore universities as well as the public sector to deliver our training programmes.”

Announcing: Rhys Brown, new CEO of ABSS

by Dimple Dimple No Comments

We are delighted to announce the appointment of Rhys Brown as the new CEO of ABSS. He was previously appointed as the COO earlier this year. Rhys will be responsible to drive ABSS to the next level, building on the solid foundation and bringing significant growth in the company. On behalf of our board and management, we wish Rhys all the best in his new role.

Censof Partners with Insurance Claims Specialist To Develop Online Insurance Portal

by Dimple Dimple No Comments

Petaling Jaya, 11 November 2019 – Financial management solutions provider, Censof Holdings Berhad (“Censof” or “the Group”), is partnering with a specialist in insurance advisory and claims services to develop an online insurance comparison portal to provide users with a more transparent and hassle-free experience when purchasing insurance.

The collaboration was formalized with the signing of a teaming agreement between Censof’s wholly owned subsidiary, Censof Maal Sdn. Bhd. (“Censof Maal”) and OSCA Sdn. Bhd. (“OSCA”), which is primarily involved in providing insurance advisory services, as well as being a third-party administrator of insurance claims services.

The teaming agreement was signed at a ceremony held at Censof’s headquarters in Petaling Jaya where Censof Maal was represented by En. Ameer Shaik Mydin, Censof Group Managing Director while OSCA was represented by its Director, Ms. Shadhana Sekaran.

The partnership will see Censof Maal and OSCA working together to develop an online insurance comparison portal whereby users will be able to compare and purchase life, general and medical insurance from various insurance providers at a competitive rate. The collaboration will also look into offering claims handling services to provide users with a hassle-free claims process.

Censof Group Managing Director, En. Ameer Shaik Mydin said, “We are excited to include the insurance portal as part of our extensive financial management services. Backed by Censof’s expertise in technologies such as blockchain, artificial intelligence, big data analytics and OSCA’s in-depth knowledge of the insurance industry, we are confident in delivering a portal that truly serves the need of today’s consumers.”

“The big idea of this platform is to offer consumers an option where they are able to research and compare insurance products with the information provided by the respective insurers. The direct engagement will fast-track the buying and claiming process as consumers will have complete control of choosing the insurances which suit them best, without much dependence on agents. In turn, it will be a safe haven for consumers as the portal will help eliminate misleading dissemination of information.”

“Our key markets will be the private and public sectors in Malaysia, Singapore and beyond. With the diversified product offerings in the pipeline, we look forward to filling in the gaps and re-imagining the world of insurance with OSCA,” he concluded.

OSCA Director, Ms. Shadhana Sekaran said, “This is an opportune time for such strategic tie-ups with like-minded partners such as Censof as the insurance industry is going through a digital transformation. The online insurance space in this region has huge untapped opportunities and we hope to be one of the first movers to utilize technology to re-define the traditional insurance industry.”