Censof unit acquires 51% stake in enterprise software provider

As the value of the company is tied to the performance of the company, it is in the interest of the warring shareholders to argue and fight outside the company.

KUALA LUMPUR: Censof Holdings Bhd's unit Century Software (M) Sdn Bhd is acquiring a 51% stake in a Singapore-registered enterprise software application and services provider.

In a statement, Censoft said the purchase of a majority stake in Netsense Business Solutions Pte Ltd for RM1.3mil was to aid in expansion plans, especially in the cloud ERP business.

According to the statement, Netsense Business Solutions is the fastest growing ERP software provider in the Singapore enterprise market, and currently has offices in Singapore, Kuala Lumpur and Jakarta. 

"The company currently supports around 90 reputable clients across Singapore and in Malaysia. Netsense provides software and IT consulting services to more than 15 industry verticals," it said.

"We are extremely excited about our investment in Netsense Business Solutions. 

"This is a logical step in terms of meeting the rising expectations of clients in the cloud ERP market as Netsense aligns well with Century Software’s strategy to grow its cloud and software business," said Censof group managing director Ameer Shaik Mydin.