PETALING JAYA: Censof Holdings Bhd, an IT solutions provider, would most likely be a key beneficiary for sizeable contracts with the rollout of the Goods and Services Tax (GST) software services nationwide.
Implementation of the GST regime is set to be enforced on April 1, 2015 and registration for GST should open on June 1, 2014.
"This is mandatory for companies with an annual sales turnover of more than RM500,000. As at the end of March 2014, there were 5.4 million companies and businesses registered with the Companies Commission of Malaysia," MIDF Research said.
The Royal Malaysia Customs estimates that 22% or 1.2 million of the total business establishments will fall within the GST system.
"We expect heavy registration as the window to register is only 10 months. In addition, we note that the remaining 4.2 million businesses not subjected to GST may also apply for voluntary registration which would save them the hassle of registering once the business crosses the threshold," MIDF said.
It noted that Censof's recent acquisition of a 45% stake in Time Engineering Bhd was also expected to produce some synergistic benefits.
"Censof will have instant access to Time's client base of more than 30,000 which employs the latter's services of e-commerce, cyber security and integrated intelligent infrastructure," it said.
Censof provides IT solutions for both back-end and front-end products and services such as financial management solutions, e-payment gateway services and investment and asset management solutions to its customers.
Its primary business operations include system design, development geared toward its implementation in installation, maintenance, and support; certified by the ISO 9001:2008 standards, established by a Bureau Veritas Certification.
In addition, Censof is one of the major accounting solutions providers for government agencies, said MIDF, adding that most of the company's contracts are of government origin.
Censof's clientele consists of over 100 key government-related agencies and ministries. Notable clients are Social Security Organisation (Socso), Inland Revene Board (IRB) and the Finance Ministry.
"We value Censof at 58 sen, attaching financial year ending Dec 31, 2015 earnings per share of 3.6 sen against forward price to earnings ratio (PER) of 15.8 times, which is the average four quarter rolling PER over the past two years."
MIDF expects Censof to provide an attractive return on share price of about 14%. The stock closed down 0.5 sen, to 50 sen with some two million shares traded yesterday.
30th April 2014 the news say censof get it too but now the wind blow another company.... Wait for 1 st June we know which company bid the project.... Which company get it I will buy their share lol...
aiyo if u follow dreamM comments he said something bigger than TRS la.... they know is TRS la and there might be something else too... I think u dont understand the conv enough
Mpay definitely will secure Trs. Just hold and be silent.Pls do not sing s lot of songs or poem. Just donate 10% of your earnings as tithes or other wise to the poor whom you know. God will nlesd us all in His unconditonal love.
Gd morning... I explain 1 more time at here Trs project and Gst project is a different project..... Trs project is Tourist Refund Scheme that's means they operation in airport.... GST collector means to build up new software and system by using high technology system to help government collect back the 6% tax for whole Malaysia.... Trs is bid by Iris and Mpay..., and the Gst is between Censof and Ghl by the early rumors... But now situation change cause any company had chance to register to bid cause the due date is 1st June report by news.., that's why I say Gst project is the bigger project now.... Any company hav chance to get it and black horse can win the race.... At the moment still need collect more information 1st....
very strong support at 28.5-29 cts level coz contra players had unloaded during the last gap up , now is back again to collect slowly at this level as the peak is still far away at 38 cts...another 10 cts away ...another 26% to catch up come June 2014.
Peace.. i would like to say if this all true or not we can see it tomorrow.. i also dont have the direction but i have strong feeling tomorrow big volume will come.. is it bring to the north or south.. lets hope will bring to the north.. James..how strong u have?Hahaha..
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Posted by DreamM > 2014-05-07 18:39 | Report Abuse
Chunjui lee..., early I think same like u but maybe rumors lol.... I heard so many IT company will bid....