KUALA LUMPUR (Oct 13): Censof Holdings Bhd (KL:CENSOF) has secured a contract worth RM10.8 million to install a financial management system at the Malaysian Cooperative Commission. 

The system will be delivered under a subscription model. The scope of work covers the full system implementation process, including requirements analysis, system design, setup, configuration, customisation, testing, integration, data migration, training, commissioning and maintenance, Tuesday’s bourse filing showed. 

“Through this project, we aim to support Malaysian Cooperative Commission in modernising its financial management processes with a system that meets its operational requirements,” said Censof group managing director Ameer Shaik Mydin. 

The 24-month contract is scheduled to start on Nov 2, 2026 and end on Nov 1, 2028. The first phase involves a 12-month development and implementation ending on Nov 1, 2027, followed by a 12-month subscription commencing Nov 2, 2027. 

The latest contract further strengthens Censof’s portfolio of public sector financial management projects. 

“As more organisations seek reliable financial management solutions with ongoing support, we see opportunities to further expand the group’s recurring revenue base through similar subscription-based projects,” Ameer said. 

Shares of Censof were traded one sen or 4% lower at 22 sen at the noon market break on Tuesday, giving the group a market capitalisation of RM122 million. The stock has rebounded 37.5% from its recent low of 16 sen at end-March but remained largely unchanged from the start of the year. 

AskEdge shows Censof is valued at 15 times its trailing earnings compared to peers Infomina Bhd (KL:INFOM) at nearly 31 times. ITMAX System Bhd (KL:ITMAX), meanwhile, has an earnings multiple of 45 times. 

Censof’s valuation, however, is higher than those of Panda Eco System Bhd (KL:PANDA) that was trading at about 14 times its past earnings.