KUALA LUMPUR (April 23): Businessman Tan Chean Suan has emerged as a substantial shareholder of Censof Holdings Bhd, after acquiring a 5.35% stake in the tech company. 

A filing by the company with Bursa Malaysia said Tan bought the stake, comprising 26.82 million shares, in the open market yesterday.  

Tan is the chief executive officer of TCSens Sdn Bhd, which provides radio frequency identifications (RFID) solutions. 

Last month, Censof bagged a RM4.02 million contract from the Inland Revenue Board to implement an accounting software system for government agencies and a financial support system for the tax agency.  

The financial management software solutions provider expects the three-year contract to contribute positively to its future earnings.  

Censof’s shares price closed unchanged at 8.5 sen today, valuing the company at RM42.65 million.