KWAP AWARDS ACCOUNTING SYSTEM REPLACEMENT PROJECT TO CENSOF

KUALA LUMPUR, Jan 23 (Bernama) -- The Retirement Fund Inc (KWAP) has awarded a RM4.27 million contract to Censof Holdings Bhd’s subsidiary Century Software (Malaysia) Sdn Bhd to replace its accounting system with a new one.

In a filing with Bursa Malaysia today, Censof said the system, more commonly referred as the government resource planning (GRP) system, will be developed over 12 months.

“(This will be) followed by a 12-month warranty period to ensure seamless functionality and provide continued support for the system, plus a yearly subscription for a period of four years.

“Implementation of this new RM4.3 million GRP system is intended to migrate from on-premises infrastructure to cloud-based systems,” the technology company said.

It said the shift will enhance operational efficiency, scalability, and accessibility, thus allowing for more streamlined processes and increased flexibility to adapt to evolving business needs.

Censof group managing director Ameer Shaik Mydin said KWAP’s strategic decision to upgrade its accounting system to the GRP system demonstrates a proactive commitment to leveraging modern technologies that boost operational efficiency, improve financial reporting accuracy, and bolster transparency.

“This aligns with modern digital transformation goals. Essentially, this selection underscores our team’s unwavering commitment to delivering the highest quality work and our proven ability to develop innovative solutions that meet the unique needs of leading institutions like KWAP,” he said.

-- BERNAMA