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Censof’s Q2FY2022 Revenue Increases by 26.6%

by Dimple Dimple No Comments

Censof’s Digitalisation Strategy Remains Intact


Key Highlights

• Year-on-year, Q2FY2022 revenue of RM22.8 million, up by 26.6%.
• Quarter-on-quarter, Q2FY2022 revenue increased by 8.4%.
• Quarter-on-quarter, PATAMI increased by 17.8%.
• 1HFY2022 revenue surged by 40.5%.

Kuala Lumpur, 10 November 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, reported its second quarter results for the financial year ending 31 March 2022 (“Q2FY2022”) today.

Censof delivered a Q2FY2022 revenue of RM22.8 million, an increase of 26.6%, as compared to a year ago, which amounted to RM18.0 million. The improvement was mainly attributed to the higher revenue generated from the financial management solutions – government (“FMS – G”) segment as a result of the project milestone deliverables for the “Perolehan Pembangunan Sistem Pelesenan Kenderaan Perdagangan (i-SPKP)” contract, which was awarded to the Group by the Ministry of Transport on 10 March 2021. Notwithstanding the improved revenue, profit after tax and minority interest (“PATAMI”) was lower by 46.8% to RM2.1 million from RM4.0 million in Q2FY2021. The higher PATAMI in Q2FY2021 was primarily due to the recognition of an approximate RM2.1 million non-recurring gain on disposal of the short-term investment in Dagang Nexchange Berhad (“DNeX”).

Quarter-on-quarter, the revenue was 8.4% higher than Q1FY2022’s RM21.1 million. PATAMI grew by 17.8% as a result of the recognition of the gain on fair value adjustment on DNeX of approximately RM0.8 million and profit contribution from Censof’s new segment, known as Digital Technology, which will solely focus on evolving technologies such as internet of things, cloud computing and infrastructure, robotic process automation, peer-to-peer platforms, artificial intelligence and machine learning.

For the six months ended 30 September 2021 (“1HFY2022”), the Group achieved a revenue of RM43.9 million, an increase of 40.5% against its corresponding period last year of RM31.2 million. Overall, every business segment of the Group has improved. Revenue derived from FMS – G increased by 52%, followed by the wealth management solutions, up by 39.9% and the financial management solutions – commercial segment, by 19.6%. Despite the hike in its revenue, the Group posted a lower PATAMI of RM3.9 million for 1HFY2022, down by 67.9% from 1HFY2021’s RM12.1 million. The higher PATAMI in 1HFY2021 was due to the recognition of a non-recurring gain on disposal and a gain on fair value adjustment of DNeX’s shares which amounted to RM2.1 million and RM8.9 million respectively. Stripping of these two gains, the adjusted PATAMI for 1HFY2021 would have been RM1.1 million, whilst the adjusted PATAMI for 1HFY2022, excluding the loss of fair value adjustment of RM1.3 million would be RM5.2 million, 372.7% surge, in line with the higher revenue generated in the said period.

Censof’s balance sheet as at 30 September 2021 remained healthy with cash and bank balances, including fixed deposit and money market funds amounted to RM22.1 million. Net assets per share attributable to ordinary equity holders of the Company was 15.78 sen as at 30 September 2021.

“I am pleased with another set of resilient results for the second quarter. The Group’s strategy to leverage on the adoption of digitalisation within the government and commercial sectors remains intact. We have observed an increase in appetite for more comprehensive solutions particularly in the adoption of cloud-based financial solutions and applications both locally and overseas as well. We remain steadfast in our commitment to deliver exceptional financial solutions that cater to every customer’s customised requirements driven by our in-house development team and are confident in our ability to deliver long-term sustainable growth in the era of digitalisation.

On future prospects, we foresee that the RM200 million allocation in the Budget 2022 for the adoption of digitalisation among SMEs has indicated proactive measures by the government to push its business digitalisation agenda which stands to benefit Censof in the coming years. We continue to bid for commercial and government related projects and are delighted to announce that the Group was awarded a RM3.4 million contract named “Renewal Licenses for DBKL ePBT System Dewan Bandaraya Kuala Lumpur” for a period of 2 years, last week. We anticipate the project to contribute positively to our earnings, going forward,” said the group managing director of Censof, Ameer Shaik Mydin.

On a separate note, Censof is committed to create a sustainable future in its business, by pushing ESG components to the forefront. Given this, Censof, through its subsidiary, Tender Pintar Sdn Bhd (“Tender Pintar”) is exploring opportunities to work together with EMERGE. The latter is a National University of Singapore supported tech start-up that builds ESG-driven state of the art artificial intelligence (“AI”) procurement demand aggregators for social enterprises. Tender Pintar is a robust, feature rich end-to-end solution for e-Tendering, e-Procurement and e-Auction. With this AI procurement platform, Tender Pintar will not only capitalise on economies of scale, more importantly engage with suppliers and/or manufacturers, who are ESG compliant.

Digital Signatures: Embracing New Practices

by Dimple Dimple No Comments

 

 

In today’s hyper-connected world, many organisations are embracing the idea of paperless offices. So with the highest safeguard, authenticity, convenience and low cost, cloud based digital signature services are becoming the choice for businesses to elevate workflow efficiency and deliver customer satisfaction.

Digital signatures allows the parties to check the authenticity and integrity of data, as well as preventing the signatory from being able to repudiate their involvement.

This technology allows signing processes and closing deals to be carried out on any device anytime and anywhere. Besides the rising corporate awareness about the benefits of using digital signatures, a further boost to adoption had come from the Malaysian Government’s Feb 2021 introduced MyDigital blueprint.

Going by the commitments and targets set out here, digital signatures are to be implemented across the entire public sector by 2025. This implementation would be beneficial to the Rakyat and businesses as one will no longer need to be physically present at any government department to conduct their business.

A September Top in Tech episode was on the topic of digital signatures and aimed to further raise awareness around the importance, applications and advancements of digital signatures with Sea Chong Seak, Chief Technology Officer of SigningCloud, Lo Nyan Tjing, CEO of MSCTrustgate and Nagendran Perumal, Chief Technology Officer of Censof Bhd as panellists.

Your Digital Signature and Electronic Signatures?

The differences between digital signatures and electronic signatures can often be confusing. An electronic signature is a blanket term for a broad grouping that includes digital signatures as a specific subset.Lo noted that digital signatures are more secure and tamper-evident. It encrypts the document, provides a timestamp and permanently embeds the information in it. If a user tries to commit any changes in the document then the digital signature will be invalidated. On the other hand, an electronic signature is similar to a digitized handwritten signature verified with the signer’s identity such as emails, corporate ID’s, transactions, and etc.An electronic signature is less secure since it does not have viable security features that can be used to secure it from being tampered with by other people without permission.

“Most of the projects and applications that utilize digital signature tend to be initiated by the government sector such as Malaysia Government Public Key Infrastructure (GPKI), eCourts and Inland Revenue Board of Malaysia (LHDN). But when the pandemic swept across the world, more companies began to be more open in exploring digital signatures. As Covid-19 is here to stay, companies in Malaysia should embrace digital signatures to maintain and optimize their business operations, costs, productivity and efficiency,” Lo elaborates.

Meanwhile, Sea from Signing Cloud pointed out that the convenience of digital signatures inherently implies a faster turnaround time. Instead of involving multiple players, who will handle printing, signing, scanning and sending one side of the business transaction and the same set of actions on the other side, a digital signature authentication happens at the click of a button.

Plus, this type of signature has the same legal standing as a handwritten signature as long as it complies with the requirements of the specific regulation under which it was created. Naturally, it gives businesses the necessary agility, edge and helps to improve trust with their stakeholders.

“Malaysia has always been at the forefront in adopting technology. Based on MyDigital’s blueprint, 80% of all the government and public sector should be offering zero-counter operations and transactions via the internet within a two year timeframe. One of the strategies to achieve this objective is to adopt this Digital Signature technology,” Nagendran points out.
Key Takeaways
“I hope both small and medium-sized enterprises (SMEs) and other big organisations in Malaysia adopt and integrate digital signatures in their business as it not only ensures smooth and efficient workflow operations but it also provides legal recognition,” Sea concluded.

“The MyDigital initiative is to transform Malaysia into a digitally driven nation. To achieve this the government will implement more e-services in both government and private sectors. Therefore, businesses should embrace digital signatures in their e-services as it eases business operations and aligns together with the government’s objective,” Lo said.

“Everyone embraces technology in their lives to make a specific task or way of life easier. Therefore, save time and make the signing process quicker by using digital signatures,” Nagen concluded.

Watch the replay of Top in Tech Episode 16 – Digital Signatures: Embracing New Practices here.

CS Cloud Partners with Nimbus Cloud Services to Fast Track Malaysia’s Digital Transformation

by Dimple Dimple No Comments

Petaling Jaya, 7 September 2021 – CS Cloud Sdn Bhd (“CS Cloud”) an indirect subsidiary of Censof Holdings Berhad is pleased to announce its official partnership with Nimbus Cloud Services (“Nimbus Cloud”), a pioneering cloud service provider in Malaysia. Through this partnership, four new cloud products, namely ‘Hijra Cloud’, ‘Kryo Cloud’, ‘Kami Cloud’ and ‘Askar Cloud’ will be introduced and provided to all existing and future clients of CS Cloud, which will essentially accelerate the ability to meet the growing demand of the digitalization transformation of the public sector in Malaysia.

This partnership between CS Cloud and Nimbus Cloud will experience exponential growth in opportunities from businesses, especially from the public sector that require cloud managed services. The four newly launched products will provide greater options to existing and potential clients to adopt cloud managed services in their businesses to better manage their day-to-day operations in facing the future of digitalization of businesses in Malaysia.

These cloud products, being flexible and scalable, are customisable to meet every businesses need. With security and reliability at the top of its benefits, these cloud products are highly resilient with the multi-layered security and ‘always-up’ environment. Focusing on clients from the public sector, CS Cloud and Nimbus Cloud products are hosted in Malaysia, which comply with data sovereignty laws.

This collaboration between CS Cloud and Nimbus Cloud aims not only to support digital transformation, but to provide businesses with a concrete defence against loss of productivity, business downtime and high consulting fees by leveraging on both parties’ IT expertise. CS Cloud and Nimbus Cloud proactively monitor and provide preventive maintenance to detect and eliminate computer problems which may result in loss of time and importantly lower cost.

“The business network and relationship between CS Cloud and Nimbus Cloud started several years ago. We have always admired Nimbus Cloud’s offering to businesses across the globe and how their solutions enable businesses to thrive. At this juncture, we have implemented our joint services and products to our government clients and we have seen positive outcome. At its core, this partnership with Nimbus Cloud will extend the reach of our Cloud products, making it more accessible for businesses with the variation and options that each product offers. As your business grows, we will help to ensure you have the right resources in place to sustain its development,” said Kavinthraj Panneerchelvam, chief executive officer of CS Cloud.

“The local and global business industries are undergoing sweeping changes in digitalization transformation. We are proud to partner CS Cloud as its achievements have been remarkable, constantly breaking new ground assisting businesses and providing relevant solutions. The debut of these four cloud products today is a gamechanger as it is a testament to Nimbus Cloud and CS Cloud’s dedication and reputation in the local Cloud service industry,” said Ungku Melewa Ahmad, chief executive officer of Nimbus Cloud.

For more information about this partnership and CS Cloud-Nimbus Cloud based products, please visit www.cscloud.my

Partnership between Century Software and Jitterbit is Good News for Malaysian Government

by Dimple Dimple No Comments

PETALING JAYA, Aug 17 – Century Software (M) Sdn Bhd (“Century Software”), a wholly owned subsidiary of Censof Holdings Berhad and Jitterbit, an application programming interface (“API”) transformation company, strengthened their partnership with the pledge to continue advancing their joint technology to enable Malaysian government agencies and businesses to accelerate their digital transformation journey.

Century Software has been providing financial management and business solutions to over eighty government agencies and businesses for several years, using Jitterbit’s API technology for integration or middleware. Century Software and Jitterbit’s partnership has come a long way, through which Century Software was appointed as a Managed Service Provider partner, as well as the preferred re-seller for Jitterbit’s products and solutions. Century Software has successfully placed itself as one of the leading players in Malaysia’s digital/information technology industry specializing in government resource planning solutions.

An API enables interaction between data, applications and devices. It delivers data and facilitates connectivity between devices and programmes. API also allows applications to communicate with backend systems.

“Our technologies continue to advance, and so do our integrated solutions. These integrated solutions have greatly benefitted our clients as many of our clients have systems they would like to integrate,” said Dr Zainul Ariffin Harun, the chief executive officer of Century Software.

Dr Zainul added, “Conventionally, system integrations were done by scripting text files or via other manual ways. With Jitterbit, we are able to integrate our clients’ systems in a faster and more effective manner. We are now offering these integrated solutions to our clients as a package in which API will be in real time. Most of our clients, namely the government agencies are committed to use it.”

Marco Meisert, the director of Channel and Alliances for Asia Pacific of Jitterbit said, “The Malaysian government agencies have a strong requirement for Century Software’s solutions, which need to be tightly integrated with other core applications. Jitterbit’s easy-to-use integration platform allows these agencies to gain real time access to data and make informed decisions. Typically, government agencies are smaller in size and have a significant number of applications and back-end systems that need to be integrated with. Government agencies are also very particular about pricing as they have limited budgets available, which pose as a potential challenge to Century Software. Jitterbit’s flexible pricing model, as such, is able to address these pricing challenges.”

Censof Delivers Commendable First Quarter 2022 Financial Performance

by Dimple Dimple No Comments

First quarter FY2022 Highlights

– Revenue surged by 59.5% to RM21.1 million.

– PBT from Financial Management Solutions for Government climbed 87.3% to RM3.2 million.

– PBT from Financial Management Solutions for Commercial and SME jumped more than 100% to RM2.7 million.

– ‘Cash and bank balances’, including fixed deposits of RM16.0 million.

– Gearing ratio – zero times

Kuala Lumpur, 11 August 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, reported its first quarter results for the financial year ending 31 March 2022 (“Q1FY2021”) today.

For Q1FY2022, total revenue jumped 59.5% to RM21.1 million, as compared to the first quarter results for the financial year ended 31 March 2021 (“Q1FY2020”) of RM13.2 million. The improvement was driven by strong organic growth of the financial management solutions for the government (“FMS – G”) and the financial management solutions for the commercial and small-medium-enterprise (“FMS – C & SME”) divisions. For the quarter, revenue from FMS – G and FMS – C & SME divisions were RM12.8 million and RM6.8 million respectively, versus RM8.3 million and RM4.3 million generated a year ago. Correspondingly, the profit before tax of both divisions were RM3.2 million and RM2.7 million, translating to an increase of 87.3% and more than 100% respectively.

Despite the stronger revenue reported during the quarter under review, profit after tax (“PAT”) was 72% lower on a year-on-year basis, at RM2.3 million. This was mainly attributable to the loss on fair value adjustment of approximately RM2.05 million on short-term investment on Dagang Nexchange Berhad (“DNeX”), in contrast to a RM8.89 million gain recognised in the same quarter last year. Excluding the fair value adjustment on DNeX, the Group would have recorded a significant growth with an adjusted PAT of RM4.3 million in Q1FY2022, against the adjusted loss after tax of RM0.8 million in Q1FY2021.

Censof’s financial position as at 30 June 2021 remains healthy with cash and bank balances of RM16.0 million, from RM8.8 million a year ago. The Group has zero debt gearing ratio as its short-term borrowings of RM0.3 million were fully repaid in the quarter under review.

Commenting on the results, the group managing director of Censof, Ameer Shaik Mydin said, “Our first quarter financial results reflect a good start to the current year. Censof is still yielding results amid the overall economic landscape that have been challenging for everyone, which has proven our continuing effort and commitment to grow our business to greater heights. Our core businesses remain profitable, and we see strong adoption of digitalisation and implementations of financial management solutions across the Asian regions, particularly within the government and SME sectors. There are ample opportunities in the Malaysian e-government space as supported by the MyDigital blueprint. The Singapore government has also extended its enhanced support of up to 80% for existing enterprises schemes till end March 2022. Without doubt, these government initiatives present great prospects for the Group in the near future in the face of digital transformation that will further enhance Censof’s business offerings to achieve a better long term financial result. Barring any unforeseen circumstances, we are cautiously optimistic that this current financial year will be better than the previous years’ after the major re-alignment of the Group’s core businesses and the significant reduction in borrowings.”

In May 2021, Censof was announced as one of Microsoft’s partners to support and drive Microsoft’s “Bersama Malaysia” initiative to advance digital transformation in Malaysia. The partnership will see Censof’s Government Resource Planning (GRP) system to run and operate on Microsoft Azure platform to meet the evolving needs of the government and Malaysian public sector.

Is Censof Out Of Woods For Good?

by Dimple Dimple No Comments

Censof is back in investors’ radar as it surged to its record high recently after it was named as a partner of Microsoft.

XiFu- Investments  senior presenter Doreenn Leong speaks with our Censof Group MD Ameer Shaik Mydin, Group Deputy MD Tamil Selvan Durairaj and Executive Director Ang Hsin Hsien on their plans ahead in the series of interviews. Click on the images below to check out the interviews.

The technology company has been facing tough times in the last 3 years as it reported consecutive losses. It finally returned to the black in FY21 but can Censof maintain its profitability moving forward?

Censof Holdings Bhd is looking to focus on its 5 core businesses for growth. In particular, emerging technologies will be key to it staying ahead of the curve.

 

Financio Connect Mobile App Released Globally

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PETALING JAYA, June 23 (Bernama) — Asian Business Software Solutions Sdn Bhd (ABSS), a subsidiary of Censof Holdings Berhad, announced the launch of CONNECT mobile application (mobile app) on APPLE App Store, for its Financio Premium subscribers.

Dubbed as a next-generation mobile app, Financio CONNECT facilitates and provides convenient business accounting transactions where subscribers will be able to instantly access their data, anytime, anywhere by merely using a smartphone. CONNECT permits business owners’ real-time access to transactions, recording of expenses, quotation creation and invoicing, which automatically synchronizes to the cloud across all devices. The mobile app is efficient, easy to navigate and facilitates a secured collaboration across departments with information security settings that enable a business owner to assign role-based access to empower personnel to perform their job efficiently.

Financio, a cloud accounting software by ABSS, which helms the small business accounting automation in Malaysia, Singapore, Hong Kong and other countries, has been redefining how the over 25,000 small business and SME owners handle their accounting and tax tasks. The launch of the CONNECT mobile app allows Financio Premium subscribers to manage their business accounts in a seamless and integrated platform while on the go. Financio users claim that the software has helped improve productivity. It is believed that CONNECT mobile app will transform how SMEs manage business accountings by enabling accounting operations executable through smartphones.

ABSS Chief Executive Officer, Rhys Brown elaborated, “Small business owners work hard and are often on the move. Along with their business’s growth and expansion, there is a rising need for a reliable and efficient mobile accounting app. Therefore, we built CONNECT mobile app to fill the gap. Made available on all the three major app stores to ensure the ease of managing business accounting, Financio CONNECT provides business owners the flexibility they need to manage business accounting and perform necessary financial administration while on the go. Our app users will be able to record expenses, send invoices, see what is owed, chase payments, reconcile accounts and more with just a smartphone.”

The Financio CONNECT mobile app is currently available for download from Google Play Store, Huawei App Gallery and Apple App store. Details and information about CONNECT including its features and functions can be found at financio.co/malaysia/connect.

Tenderwizard Empowers Transformation of Hospital Pengajar Universiti Putra Malaysia Tendering System Easing Procurement During Pandemic

by Dimple Dimple No Comments

TenderWizard Cloud Based e-Tendering System Promotes Digitalization Solution for The Healthcare Industry in line With Malaysia’s Digital Transformation Plan

PETALING JAYA, June 28 (Bernama) — Censof Holdings Berhad (“Censof”), a technology holdings company specialising in financial management software solutions announced the official partnership with Hospital Pengajar Universiti Putra Malaysia (HPUPM) to implement TenderWizard system for all their tendering and procurement processes, through its subsidiary, Century Software (M) Sdn Bhd (“CSM”). The partnership, which was piloted in February 2021 and is now at full integration, will see massive increase in the departments’ daily operations’ efficiencies and will provide win-win solutions to increase outcome and efficiency in tandem with Censof’s effort to drive digital transformation in the public sector.

TenderWizard, a software that runs on Telekom Malaysia’s Cloud, is the latest system of its kind that offers end-to-end solution for all e-Tendering and e-Auction processes. It is an exclusive web-based government-to-business (G2B) or business-to-business (B2B) product for buying goods and services through quotations, tenders, reverse or forward auctions and supports selling and buying of goods through tender-cum-auction. TenderWizard can be used for all types of tendering, including works tendering processes.

The cost-effective solution comes integrated with a payment gateway (for vendor registration & sale of tender documents) and is designed with user-friendly features. The solution, which provides end-to-end solution is expected to improve the efficiency and effectiveness of any procurement process, resulting in speeding up the procurement cycle, as well as ensuring the transparency and integrity of the procurement process. This attainment is aligned with the country’s endeavours to progress towards digitalization.

“For Censof to arrive at this momentous milestone with HPUPM with the adoption of TenderWizard reflects the testament of our work in digital transformation for Malaysia’s healthcare industry. This marks our initiative to strengthen Censof’s position as a significant player in providing top-notch digital technology and solutions to improve workflow efficiency and productivity for Malaysia’s public healthcare sector. We will constantly innovate with the latest developments on technologies and continue to capitalise on our experiences, knowledge and capabilities to create and provide improvements to our existing products and solutions. The innovation will further facilitate digital adoption across the public sector and accelerate the public healthcare industry by enhancing participation from local players in the procurement activities,” said Dr. Zainul Ariffin Harun, Chief Executive Officer, Century Software (M) Sdn Bhd.

“The collaboration with Censof for this project is our move towards adopting the digital initiative that was announced by our Prime Minister earlier this year. We have experienced 40% efficiency and improvement upon the implementation of TenderWizard in our tendering and procurement processes. We are exultant as this reflects positively on the optimization performance of HPUPM as a public healthcare provider in Malaysia,” said YBhg. Prof. Dr. Mohd. Roslan Sulaiman, Vice Cancellor, Universiti Putra Malaysia.

TenderWizard is proven to maximize procurement results by improving process effectiveness, eliminating fraud and introducing cost-efficiencies, as there are no cost of change management and implementation.  At the same time, it also ensures timely award solutions in a user friendly and efficient environment. Through the adoption of TenderWizard in various government statutory bodies and agencies, the evaluation of the procurement process has ascertained to be faster and accurate, resulting in an improved quality of tender specification and supplier response in a wider geographical coverage. To maximize the accessibility of TenderWizard to any new agencies, CSM is offering a waiver on all implementation and change management fee throughout this year to assist and accelerate the effort in digitising Malaysia’s public sector.

Censof Partners with Microsoft to Accelerate Digital Transformation of the Public Sector in Malaysia

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Kuala Lumpur, 20 May 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, has been announced as one of Microsoft’s partners to advance the digital transformation of Malaysia’s key industries, including the public sector.

Under the collaboration, Censof will be working together with Microsoft to deliver its Government Resource Planning (GRP) system, which will run on Microsoft Azure, to meet the evolving needs of the Government and public sector. The GRP system, which is a flexible and scalable modular financial management system, redefines the future of resource planning for the Malaysian public sector while enabling the government to deliver enhanced public services with greater accountability and transparency to the people.

“For Censof to arrive at this momentous milestone with Microsoft is a testament of our work in digital transformation of the nation. This marks our initiative to strengthen Censof’s position as a significant player in providing efficient software solutions to the ministries and government agencies. We will constantly stay abreast with the latest developments on innovative technologies and continue to innovate and capitalise on our experiences, knowledge and capabilities to create and provide improvements to our existing products and solutions to support and drive Microsoft’s “Bersama Malaysia” initiative. I also value the support from Crayon in ensuring the impact of this remarkable initiative will be a positive one for our country,” said Ameer Shaik Mydin, Group Managing Director of Censof.

In line with the objective of digitalising Malaysia, this collaboration will see Censof’s renowned GRP system being integrated seamlessly, with Microsoft Azure and other data technologies. As the Government of Malaysia commits to embark on its digital aspirations, Censof’s GRP system is ready to further provide vast and greater technological advancements for the government resource planning system that will directly create a positive impact on the Malaysian government’s ability to maximise its resource and widely influence how other industries operate their businesses in the future.

The collaboration between Censof and Microsoft is made possible with the support and assistance by Crayon –a global leader in digital transformation services, and one of the few accredited Microsoft Azure Expert Managed Service Providers. “Being the nominated partner by Censof for this project is a great honour for us. We are committed to bridge the growth of our partners, and hence add value by providing end-to-end services and premium support that will reflect positively on their adoption and optimization performance,” said Harith Ramotheram, CEO for Crayon Malaysia and Indonesia.

This relationship reflects Censof’s joint commitment in supporting Microsoft’s “Bersama Malaysia” initiative, to advance the nation’s digital transformation across the public and private sectors.

“Microsoft is committed to supporting Malaysia’s MyDigital ambitions and further empower the nation’s inclusive digital economy in collaboration with our strong ecosystem of partners. The Government of Malaysia has outlined a progressive Digital-First and Cloud-First strategy for the public sector, and we look forward to working closely with Censof to help realise our nation’s digital goals, with Microsoft Azure as the trusted technology foundation for Malaysia,” said K Raman, Managing Director of Microsoft Malaysia.

Censof Declares Interim Single-Tier Dividend of 0.75 Sen

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Full year FY2021 Highlights

Full year revenue of RM87.7 million, up by 12.6%.

PBT improved to RM29.8 million, from LBT of RM70.8 million.

PATAMI improved to RM26.8 million, from LATAMI of RM72.4 million.

Basic EPS of 5.32 sen.

Declares interim single-tier dividend of 0.75 sen per share for FY2021.

Fourth quarter FY2020 Highlights

PBT turnaround to RM13.5 million, from LBT of RM73.8 million.

PATAMI turnaround to RM12.7 million, from LATAMI of RM74.0 million.

Completion of the Subscription Agreement with Packet Interactive Sdn Bhd (Kiple Pay) to subscribe a 51% stake in T-Melmax Sdn Bhd.

Equity interest in ABSS increased to 89.07% from 58.20%.

Kuala Lumpur, 18 May 2021 – Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, announced its financial results for the fourth quarter and full year ended 31 March 2021 (“FY2021”) today.

For the full year, revenue jumped 12.6% year-on-year to RM87.7 million, as a result of higher contributions from the financial management solutions – government (“FMS – G”) and financial management solutions – commercial and small and medium enterprises (“FMS – C & SME”) business segments. Correspondingly, profit before tax (“PBT”) and profit after tax and minority interests (“PATAMI”) were RM29.8 million and RM26.8 million respectively. The significant improvement in the Group’s earnings in FY2021 were largely due to the higher profit contributions from FMS – G and FMS – C & SME of RM12.1 million and RM5.4 million, an increase by 47.5% and 126.4% respectively, as compared to FY2020. The recognition of a gain on fair value adjustment on short-term investment of approximately RM16.2 million and a gain on disposal of short-term investment of about RM2.1 million were also the positive contributing factors to the Group’s profitability. On the whole, this was a major turnaround in contrast to the loss before tax of RM70.8 million and loss after tax and minority interests of RM72.4 million in FY2020, where a substantial loss was recognised in relation to the divestment of an associate, Dagang NeXchange Berhad’s shares. Basic earnings per share for FY2021 was higher at 5.32 sen, compared to a loss of 14.43 sen in the previous year.

As for the fourth quarter 2020, revenue increased marginally by 0.6%, year on year to RM32.7 million, as a result of higher revenue generated from the Netsense Group and higher sales demand for the ABSS products in Singapore. Both fall under the ambit of the FMS – C & SME segment. More importantly, the PBT and PATAMI experienced impressive turnaround, having recorded profits of RM13.5 million and RM12.7 million respectively, from significant losses of RM73.8 million and RM74.0 million respectively a year ago. The profits were mainly attributable to improved contributions from the FMS – C & SME segments by 79.3%, savings of finance costs by RM0.7 million per quarter upon the settlement of share margin loan from MIDF and term loan from Kenanga Investment Bank Berhad, fast track of project deliverables from the FMS – G segment and a gain recognition of RM6.8 million from the fair value adjustment on its short-term investment.

The Group’s financial position remains healthy. Net assets per share improved to 15.89 sen as at 31 March 2021 from 11.51 sen twelve months earlier. The cash and bank balances in turn, surged to RM29.3 million from RM11.4 million as at end FY2020.

“I am extremely pleased that Censof has finally achieved a turnaround year after booking three consecutive years of losses. FY2021 has been a turning point for Censof where we will continue to accelerate forward. While the overall economic conditions continue to present a challenge for us with re-imposition of the COVID-19 related restrictions, Censof will remain resilient in such uncertain times. As this is only the beginning of our turnaround story, we pledge to strive and deliver the highest standard of products to serve all our customers.

“We foresee an acceleration in the shift of businesses towards adopting digitalisation with the support of grants and initiatives by the government in that agenda. As such, we are confident that the demand for technology solutions will continue to grow as we explore more opportunities to develop unique products and solutions together with our strategic alliances and partners to expand our business solutions. The collaboration with Kiple Pay via the 51% subscription into T-Melmax and the recent increased equity interest in ABSS testify our efforts in exploring synergistic partnerships in enhancing our business in a sustainable manner. We are highly optimistic Censof will achieve better financial results, in line with our strategic roadmap to continue focusing and expanding our core businesses,” said Ameer Shaik Mydin, group managing director of Censof.

The Board of Directors has declared an interim single-tier dividend of 0.75 sen per share on 552.3 million ordinary shares, amounting to approximately RM4.1 million, which shall be paid on 25 June 2021.