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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.


Knowledgecom Welcomes New shareholders from Millet World

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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.”

Century Software Secures RM 5.3 Million Contract From Ministry of Finance

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Kuala Lumpur, 16 December 2019 – Censof Holdings Berhad’s (“Censof”) wholly-owned subsidiary, Century Software (M) Sdn. Bhd. has secured a contract from Ministry of Finance Malaysia (“MOF”) to provide maintenance and support services for MOF’s budget management information system, MyResults.

The contract is valued at RM5.3 million and carries a tenure of 12 months, from 2 January 2020 until 1 January 2021.

MyResults is an outcome based budgeting (OBB) system which was developed by Century Software for MOF. Under the OBB system, high-level national strategies are linked to specific budget programs and activities. This will lead to an improvement in resource management 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.

Censof Group Managing Director, Encik Ameer bin Shaik Mydin said “We are honored to be awarded with the contract to carry out maintenance services for MyResults. It enables us to continue our long standing relationship with MOF, having completed the project hand over of MyResults in May 2019. We appreciate the continued confidence MOF has for the group, as it lends credence to our technical capabilities and strengthens our track record in the area of financial management solutions.”

Century Software has been providing IT solutions specializing in financial management to the public sector and has on-going contracts with government agencies such as the Inland Revenue Board (“LHDN”), Dewan Bandaraya Kuala Lumpur (“DBKL”) and Pertubuhan Keselamatan Sosial (“PERKESO”).

Inclusive of this contract, Censof’s orderbook now stands at approximately RM55.7 million. The subsidiary has also significantly increased its recurring maintenance contracts to approximately RM37.2 million per annum.

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

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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.”

Century Software Awarded Contract From LHDNM Worth RM 34.77 Million

by Dimple Dimple No Comments

PETALING JAYA, Oct 3 (Bernama) — Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad has secured a contract for hardware upgrade and license renewal contract worth RM 34.77 million.

The contract, awarded by Lembaga Hasil Dalam Negeri Malaysia (LHDNM) is for a period of 3 years and would commence in January 2020 to 31 December 2022.

Under the terms of the contract, Century Software’s would be responsible for hardware maintenance and software renewal with support services for LHDNM data warehouse system.

Censof Group Managing Director, Ameer Bin Shaik Mydin said: ” Century Software has a long-standing relationship with the LHDNM and this contract will provide us the opportunity to show our continued dedication and commitment to delivering innovative solutions and services to them.”

Century Software leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies) – an initiative by the Malaysian Government to standardize accounting and financial management enterprise solutions used in all its Federal Statutory Bodies.

Century Software provides a range of software and services in areas of accounting, tendering, budgeting, and performance monitoring. Century Software continues to be recognized as the leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies).

“We are honoured to receive this contract award and we are committed to using our extensive supplier relationships and unparalleled service delivery standards to provide the best technology solutions and services to meet and exceed LHDNM expectations,” he added.

For more than 20 years, Century Software has been a leading provider of technology, software and IT solutions that empowers government agencies with their transparency and efficiency.

Century Software Gets RM 8.2 Million Contract From DBKL

by Dimple Dimple No Comments

PETALING JAYA, Aug 28 (Bernama) — Century Software (M) Sdn Bhd, a wholly-owned subsidiary of Censof Holdings Berhad has been awarded an information and communication technology (“ICT”) maintenance contract worth RM 8.2 million from Dewan Bandaraya Kuala Lumpur (DBKL).

Under the terms of the contract with DBKL, Century Software’s scope of work includes comprehensive maintenance and support services of ePBT Financial Management system in DBKL. The contract also includes refresh of hardware for the system. Duration of the contract will be for one year.

Censof Group Managing Director, Ameer Bin Shaik Mydin said: ” In the current economic condition, it is satisfying that Century Software has been able to sign a contract that provides enhanced visibility to our overall revenue streams.”

Century Software leading provider of financial management solutions developed on SAGA (Standard Accounting System for Government Agencies) – an initiative by the Malaysian Government to standardize accounting and financial management enterprise solutions used in all its Federal Statutory Bodies.

“It is our competencies, commendable execution track record and our eagerness to ensure customer delight that have allowed us to offer superior services to our clients. This win further enables us to strengthen our footprint with DBKL. Our mission is to be the trusted technology and capacity provider for our clients and industry for years to come,” he added.

Century Software creates platforms and services for businesses and governments to manage millions of interactions every day for those they serve. They leverage on the power of cloud, mobile and IoT, combined with technologies such as machine learning, robotic process automation, blockchain and artificial intelligence to elevate every interaction, driving modern digital experiences that are more efficient.

Century Software Wins Two Awards at SEBA Awards 2019

by Dimple Dimple No Comments

Century Software (M) Sdn Bhd won two awards at the recent SME and Entrepreneurs Business Awards (SEBA) 2019, one of the most reputable local industry awards. Century Software won the Revolutionary Business Solution – Finance award and Chief Executive Officer, Zainul Arrifin Harun picked up the Strategic Financial Entrepreneur of The Year award.

The 4th SME and Entrepreneurs Business Awards (SEBA) 2019 saw Malaysia’s SMEs and entrepreneurs honoured and awarded at the Recognition Gala Dinner. The event, which was officiated by YBhg Datuk Seri Mohd Redzuan, Minister of Entrepreneur Development was held at the Palace of the Golden Horses.

SEBA is an annual initiative set up by Yayasan Usahawan Malaysia and is supported by the Ministry of Entrepreneurship Development (MED) Malaysia to recognise Malaysia most outstanding entrepreneurs and enterprises while uncovering growing talents and upcoming companies that are transforming the industries they operate.