MyEg spike up or price increase has got nothing to do with cuscapi. I am not against Cuscapi but let's focus on the future of this company after giving them more than 2 yrs now, every quarter reports still losing money with no business lead for their C360 Engage... Or the improved Transight!
Gauging from Anthony interview with BFM recent week, Cuscapi is not in a very good position as he kept avoiding the question from the interviewer about the finacial health as well as the future of the company. Anthony kept talking to himself claiming Cuscapi is diverting from a traditional F&B POS software supplier to a "Technology" company but couldn't elaborate further on the "New Technology" from Cuscapi beside the cloud base POS thingy which again related to only F&B. When asked about the automotive part, he sounds very incompetent in explaning the fuction developed by Genpack. Sounds like not much impact from this product.
The only prospect was the Thailand project for an F&B group to convert their database into Cuscapi cloud as well as some business lead from UAE.
Generally, Cuscapi is yet to prove any evolution for the past 2 years after took over by a new owner & management team. BTW, the cash flow position for Cuscapi is in bad shape, this was acknowledged by Anthony too during the interview.
PETALING JAYA: Information technology company CUSCAPI BHD has inked a memorandum of understanding (MoU) with PT Cartenz Inti Utama, a MyEG Services Bhd associate company in Indonesia, for the potential supply of 20,000 point-of-sale (POS) units.
According to a Bursa Malaysia filing, the 20,000 POS units are to be delivered over two years, and further details of the deal will be set forth in the definitive agreement between subsidiaries PT Cuscapi Indonesia and PT Zeepos Teknotama Mandiri.
Industry sources reckon that the potential sales contract could range from US$6mil to US$8mil (RM24.45mil to RM32.6mil), at a price of US$300 to US$400 (RM1,222.65 to RM1,630.20) for each POS unit.
“Cuscapi is growing its reach in Indonesia and there could be more of such announcements to come, given the large market size in Indonesia, ” a source said.
In a statement yesterday, Cuscapi group CEO Anthony Gerald Victor said Cartenz is embarking on a roll-out of its country-wide ICT implementation project for food and beverage businesses in Indonesia.
The MoU signed marks the first step of a strategic partnership between Cuscapi and Cartenz, which will extend Cuscapi’s footprint and increase its POS hardware installed user base.
“In all the markets we are present, Cuscapi empowers the F&B industry to deliver seamless digital experiences for customers with our cutting-edge solutions like our flagship C360 Engage. This strategic partnership with Cartenz is taking that success a step further as we venture into the Indonesian market.
“The supply of 20,000 units of POS is but a first step in many collaborations with Cartenz. We are excited to be part of the journey with them as we work towards advancing Indonesia together, ” he said.
For the nine months of the financial year ended Dec 31,2019, Cuscapi registered a net loss of RM6.11mil, on the back of a revenue of RM18.79mil, due to lower maintenance and hardware sales as well as timing differences in recognition of revenue.
It's not the mou this time round. It's the lead with myeg rolling out the previous tax monitoring system which should be deployed here at Malaysia back to GST era. Now they both going Indonesia. Cuscapi being the pioneer in tax monitoring software if you get what I meant.
CUSCAPI BERHAD ("CUSCAPI" OR THE “COMPANY”) MEMORANDUM OF UNDERSTANDING BETWEEN THE COMPANY AND PT. CARTENZ INTI UTAMA
1. INTRODUCTION The Board of Directors of Cuscapi wishes to announce that the Company, had on 15 th January 2020 entered into a Memorandum of Understanding (“MOU”) with PT Cartenz Inti Utama (“PT. CIU”). (each hereinafter referred to as a “Party”, and collectively “the Parties”) 2. DETAILS OF THE MOU (a) The Company is in the business of providing hardware and/or software solutions to its customers that operate in the retail and/or food and beverage businesses. (b) PT. CIU is desirous to purchase the POS product (“Product”) from the Company. (c) The Parties are desirous to collaborate for the supply and implementation of 20,000 POS units that are slated to be delivered over a period of two (2) years in Indonesia. The relevant details are covered under this MOU and will be further set forth in the definitive agreements to be entered into with each party's local subsidiary namely PT Cuscapi Indonesia and PT Zeepos Teknotama Mandiri.
New boss took over 2 years, rnd on new product, acquired few company, mou here & there, move office, venture to other SEA country but no business lead until now. Half dead company, soon will come private placement for working capital. Gone case.
Iris vs dsonic for the new immigration contract. Who will win? Iris with Vincent Tan relationship while Dsonic with Mohd Hashim relationship with our lovely PM. Very interesting fight. I bet Iris will win this round!