Censof wins RM10.8 million financial management system contract
The Malaysian Cooperative Commission project runs for 24 months, with development and implementation followed by a subscription phase.
Censof Holdings Bhd has been awarded RM10.8 million to implement a financial management system for the Malaysian Cooperative Commission, according to its bourse filing. Work is scheduled to begin on Nov 2, 2026, with the contract ending on Nov 1, 2028.
The project uses a subscription model and comprises two stages. Development and implementation will take 12 months, concluding on Nov 1, 2027. A separate 12-month subscription period begins on Nov 2, 2027.
Censof’s responsibilities range from analysing requirements and designing the system to setup, customisation and configuration. The work also includes integration, testing and data migration, as well as training, commissioning and maintenance.
Group managing director Ameer Shaik Mydin said Censof aims to help the commission modernise its financial processes while meeting its operational needs. He also said similar subscription projects offer opportunities to expand the group’s recurring revenue base.
At the noon market break, Censof shares stood at 22 sen, down one sen or 4%, valuing the group at RM122 million. The stock had recovered 37.5% from its end-March low of 16 sen, but was largely unchanged from the beginning of the year.
