Diversifies into provision of RPA solutions

KUALA LUMPUR, Dec 21 (Bernama) -- Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, on 20 December 2021 announced that the Group has entered into a share purchase agreement to acquire a 51% equity interest in Cognitive Consulting Sdn Bhd (“CCSB”) for RM3.7 million with a profit guarantee scheme.

The purchase consideration of RM3.7 million was derived after taking into consideration the current average price-to-earnings multiple of 7.5 times and the average profit before tax for FYE2021 and FYE2022. The consideration is expected to be partially funded through the balance proceeds from the disposal of Dagang Nexchange Berhad shares back in August 2020 and internal generated funds.

CCSB is principally involved in the business of providing information technology consultancy and system integration services specializing in the Robotic Process Automation or more commonly referred to as RPA. Essentially, RPA is a software technology that builds, deploys and manages software robots easily to emulate human actions interacting with digital system and software. With RPA, business workflows will be streamlined and therefore creating a more profitable and flexible organisation. RPA also enables employees’ satisfaction, engagement and productivity to be enhanced with the automation or removal of mundane tasks. CCSB is a technology partner with various world class technology providers such as UiPath and Deepread. Notable clienteles of CCSB include TM Malaysia, Pharmaniaga, Perkeso and POS Malaysia.

“Bringing CCSB onboard into Censof is an excellent strategic investment, aligning with our strategies to grow and focus on our digital technology business segment. I am so excited that the potential synergies between Censof and CCSB are extensive, only restricted by our imaginations. Both parties are able to leverage on each other’s strength and expertise by offering the RPA solutions to Censof’s large customer base, namely the government and commercial sectors. Fundamentally, we can now offer our customers to digitalise and migrate onto cloud-based solutions via the utilisation of the RPA technologies. This will progressively improve the efficiency and productivity of their work processes, as well as ensuring sustainability in their businesses,” said Ameer Shaik Mydin, group managing director of Censof.

He added, “The acquisition serves to diversify Censof’s revenue stream and hence contributes positively to Censof’s earnings from next year onwards. We recognise CCSB’s great potential future growth and as such, moving forward, we are confident that this acquisition will be earnings accretive and beneficial for the Group.”

Commenting on the acquisition, CCSB chief executive officer Zulkifli Bin MD Ghairi @ MD Asri said, “CCSB’s performance has a good track record to date. With the signing of this share purchase agreement today, our solutions can now reach a much wider market segment. In line with the MyDigital initiatives, CCSB will continue to accelerate digital transformation by delivering comprehensive RPA solutions”.

ABOUT CENSOF HOLDINGS BERHAD

Censof Holdings Berhad (“Censof” or the “Group”) was established in 2008 as a technology holdings company that provides an extensive financial management solution for the government and commercial segments, small and medium enterprises, as well as start-ups. The Group was listed on the Main Market of Bursa Malaysia Securities Berhad in January 2011.

Through its subsidiaries, Censof is involved in providing (i) financial management solutions on the government front, (ii) financial management solutions to the SMEs and micro-SME segments, (iii) wealth management solutions, (iv) payment aggregation solutions and (v) digital technologies. The Group is listed under the Technology Sector (Name & Code: CENSOF & 5195).

For more information about Censof Holdings Berhad, please visit https://censof.com.

SOURCE: Censof Holdings Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Sandra Tan
Imej Jiwa Communications
Email: sandra@imejjiwa.com

Name: Wong Khai Jin
Imej Jiwa Communications
Email: khaijin@imejjiwa.com

--BERNAMA