KUALA LUMPUR (July 9): Omesti Bhd has has launched a digital platform for business registry bodies.

In a statement, the group said that with its “OMESTI BR-IDGE” platform, business registry bodies can digitise the manual process for the entire life cycle management of companies, businesses, partnerships and corporate intermediaries.

Omesti added that the platform is modular and scalable in nature, and thus is fully configurable to meet the different corporate registry requirements that change across jurisdictional boundaries.

“With the devastating effects caused by the Covid-19 pandemic across the world, digital platforms like BR-IDGE have a key role to play in helping governments kick-start their respective economies.

"By opening up the way that data is made available to the investment community, other regulatory bodies and industry at large, investment decisions can be made based on reliable, verified data which will help build confidence in cross-border transactions,” said Omesti executive director Chia Yong Wei.

Chia added that BR-IDGE is a type of digital platform that can contribute to greater transparency and ease of doing business.

According to Omesti, BR-IDGE allows for the entire process for business incorporation, statutory compliance matters, revenue collection and other similar functions to be handled online.

Consequently, organisations are able to file company incorporation submissions, conduct name searches or name-change applications, submit updates on directors’ details and perform other corporate filing requirements digitally.

Additionally, searches for information such as a company's ownership, shareholding, directors and other relevant corporate data can also be conducted online.

The platform also has a collection management module that enables centralised fee management, facilitates payment collection, as well as end-to-end reconciliation and financial reports.

“The watch list monitoring module helps registry bodies in early fraud detection and in determining the track record/standing of individuals/businesses for their suitability for business formation. Integration with XBRL, the global open standard for digital financial reporting, enables smooth processing of compliance financial submissions,” it noted.

The group added that for Thailand and the wider Southeast Asia region, it is working with Singapore-based management consultancy Clarian Pte Ltd, which specialises in business development and partnerships in Thailand as well as investor relations and client management.

It is also finalising partnership agreements with companies in South Africa and in the Gulf.

Shares in Omesti were up 1.85% or a sen higher at 55 sen apiece at 10.29am, valuing the company at some RM291.96 million. The counter saw 8.81 million shares traded.