PETALING JAYA (Sept 12): Censof Holdings Bhd is optimistic about achieving an even better year for its financial year ending March 31, 2018 (FY18), as it foresees more positive prospects moving forward.

The group, which provides financial management software solutions, will be leveraging on expected contributions, particularly from two business segments — financial management solutions (commercial division) and training solutions — which it noted to have witnessed more developments as of late.

“For FY18, we will definitely see more positive [prospects], anchored by the two mentioned divisions. There have been a lot of developments in these two business segments lately,” Censof’s group managing director Ameer Shaik Mydin told reporters, after its annual general meeting today.

Censof’s financial management solution division is divided into two branches, namely government and commercial. 

For commercial, the group targets mainly the growing micro small and medium enterprises (SMEs) market, which accounted for about 76.2% of Malaysia’s entire SME market in 2016, according to the Statistics Department.

As for training solutions, the group said in its annual report that it will collaborate with local universities and establish centres of excellence in technology (CoET) nationwide, whereby it will provide training by bundling its existing technology modules with modules from selected universities to provide skills that match current market needs.

“Our training pillars will meet the needs of an Industry 4.0 society, focusing on cybersecurity, big data, Internet of Things and cloud computing,” Censof explained.

In FY17, although yearly revenue slipped 11.2% to RM146.57 million from RM165.04 million, Censof returned to the black with a net profit of RM13.66 million versus a net loss of RM13.51 million in FY16.

Censof rose 1.75% or 0.5 sen to 29 sen in the morning session today, with 1.61 million shares done.