The Board of Directors of Censof wishes to announce that Century Software (Malaysia) Sdn. Bhd., a wholly-owned subsidiary of the Company had on 23 January 2025 accepted the Letter of Award from Kumpulan Wang Persaraan (Diperbadankan) (“KWAP”) in relation to the replacement of the accounting system for KWAP ("the Project").

The Project is divided into two (2) phases comprising the development and maintenance of the accounting system. The tenure of the development of the accounting system is for a period of twelve (12) months, which comes with a warranty period of twelve (12) months upon completion of the development. Upon expiry of the warranty, the maintenance of the accounting system would take effect for a period of four (4) years, with no option to extend and/or renew upon its expiry. The total value of the Project amounts to RM4,272,210.00.

The Board of Directors is of the view that the Project is in the best interest of the Company and its subsidiaries (collectively referred to as "the Group") and is expected to contribute positively to the earnings and net assets per share of the Group for the financial years ending 31 March 2025 onwards.

The Board of Directors does not foresee any exceptional risks other than the normal operational risks associated with the Project.

None of the Directors and/or major shareholders and persons connected with the Directors or major shareholder has any interest, direct or indirect, in the Project.

Please refer to the attachment in relation to the press release for further details. 

This announcement is dated 23 January 2025.