Petaling Jaya, 8 February 2018 – Censof Holdings Berhad’s (“Censof”) wholly-owned subsidiary, Century Software (M) Sdn Bhd successfully secured a RM6.43 million contract from the Malaysia Inland Revenue Board / Lembaga Hasil Dalam Negeri Malaysia (“LHDNM”) for works on upgrading and enhancing of their accounting solution, SAGA (Standard Accounting System for Government Agencies).
Under the contract, Censof will upgrade LHDNM’s current SAGA solution to strengthen the accounting and financial management system in line with the objectives of SAGA. Financial information will be appended faster, with more accuracy and frequently updated through this new version of the system.
The contract has been signed for one year and six months, period commencing from February 2018 until July 2019.
Censof has obtained a long-standing relationship with LHDNM, having completed the Electronic Revenue Accounting System (eRAS) for LHDNM in year 2008. In November 2016, Censof and LHDNM firmed up an agreement for a joint collaborate on developing the Foreign Accounting Tax Compliance Act (FATCA) Automatic Exchange of Information Solution.
Censof Group Managing Director, Encik Ameer bin Shaik Mydin said, “Since the establishment of our collaboration, Censof had completed and delivered projects ahead of schedule. We are pleased with this contract award for the enhancement of SAGA as it is a testament to our capability in delivering reliable and high quality technology solutions on time. We appreciate the vote of confidence given by LHDNM.”
“Our solutions are being used since 1996, when our government started the SAGA initiative. And today, we have about 80 government agencies using our financial management solution with Inland Revenue Board of Malaysia (LHDN) and Kumpulan Wang Persaraan (KWAP) being one of the bigger few.” added Ameer.
The new system will also be equipped with seamlessly integrated procurement and contract management, government oriented asset management, a mobile App, as well as paperless workflow processes to improve operational efficiency.