Censof announce that Century Software (Malaysia) Sdn. Bhd., a wholly-owned subsidiary of the Company had accepted the Letter of Acceptance from Penang Development Corporation in relation to the supply, delivery, installation, testing, commissioning of software for the implementation of an enterprise-wide financial management information system.
The project it said is divided into two phases comprising the development and maintenance of EFMIS. The tenure of the development of the EFMIS is for a tenure of one year from 1 September 2024 to 31 August 2025. Upon completion of the EFMIS Development, the maintenance of the EFMIS would take effect for a period of five years from 1 September 2026 to 31 August 2031 with no option to extend and/or renew upon the EFMIS Maintenance's expiry.
The value of the EFMIS Development and EFMIS Maintenance projects amounts to RM7,339,122.91 and RM7,297,804.29 respectively.
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 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.