Wednesday, September 9, 2026

CENSOF CURRENT MARKET CAPITALIZATION SHOW AMPLE ROOM FOR GROWTH IN SHARE PRICE

Blog https://targetinvest88.blogspot.com



Government IT Vendors & Market Caps as of 9th Sept 2026

Company NameStock CodePrimary Government IT Specialization / ConcessionsMarket Capitalization (As of 9 Sept 2026)
ITMAX System BerhadITMAX (5309)Smart city video surveillance analytics and traffic systems for municipal councils.RM 4.73 Billion
Zetrix AI Berhad (formerly MyEG Services)ZETRIX (0138)Transactional e-government gateways (immigration, JPJ road tax) and national blockchain frameworks.RM 2.26 Billion
Dagang NeXchange BerhadDNEX (4456)Operates the National Single Window (NSW) trade facilitation system linking logistics with Customs.RM 1.68 Billion
NexG Berhad (formerly Datasonic / DSONIC)NEXG (5216)Supplies national security passport booklets, smart chips, MyKad systems, and digital identity modules.RM 1.07 Billion
AwanBiru Technology Bhd (Awantec)AWANTEC (5204)Public-sector Cloud Framework Agreements (CFA) supplying Google cloud software migration.RM 209.35 Million
HeiTech Padu BerhadHTPADU (5028)Core backend system maintenance and the RM1.05 billion National Integrated Immigration System (NIISe).RM 167.87 Million
Censof Holdings BerhadCENSOF (5195)Financial management accounting systems and custom tax systems tailored for statutory ministries.RM 118.61 Million




Given the potential contract outline from 2026 to 2030 under MALAYSIA DIGITAL 2030 framework, we believe CENSOF prospect in the next coming years to see powerful growth, will will enhance earning per share, as well as dividend.

Projection on Censof market capitalization

1. 30 cents = RM 165 million

2. 50 cents = RM 276 million

3. 70 cents = RM 386 million

4. RM 1 = RM 552 million




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Tuesday, September 8, 2026

GREAT POTENTIAL FROM CENSOF FINANCIAL MODEL 5 YEARS PROJECTION

Blog https://targetinvest88.blogspot.com



What is the potential of CENSOF with MD2030 vision ?

With the existing base of government agencies (Currently, 100+ government agencies are using the old SAGA system), the upgrade will definitely see CENSOF with full of potential for the next 5 years.

Notwithstanding, Singapore had implemented mandatory e invoice, which will also push CENSOF commercial consumer segment through their 51% owned NETSENSE which cover Singapore SME market.


Following will be 3 scenario of financial model projection for CENSOF, encompassing the potential of government contract through MD2030, as well as commercial consumer segment.



BEST CASE SCENARIO



MODERATE CASE SCENARIO



BAD CASE SCENARIO





At the current price of RM 0.205, and with the kind of potential ahead, CENSOF could be grossly undervalued.

If Censof simply transitions its dual engines reasonably well (Moderate Case), at 21.85 sen in EPS. If the market assigns a standard sector software multiple of 12x P/E, the math indicates a target share valuation room approaching RM 2.62.

Long term investor aiming for future cash flow can also consider CENSOF for long term holding.




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Monday, September 7, 2026

CENSOF ON POTENTIAL RM 1.5B FUTURE CONTRACT ON MALAYSIA DIGITAL 2030 FRAMEWORK

 Blog https://targetinvest88.blogspot.com



Malaysia plan to see government agency with 95% end to end online services, equipped with AI at the back end, and front end with agentic ai chat function will see big opportunity for CENSOF in the next 5 years.

Currently, some core agency are moving first, with LHDN and MAIWP awarding contract to CENSOF

Censof bags RM19.9 mil IRB contracts for tax, financial system upgrades

Censof bags RM17.8 mil contract from MAIWP for accounting system











Around 100+ government agencies are using SAGA system from CENSOF.

Here are some of the list 

Federal Statutory Bodies & Major Agencies
  1. Lembaga Hasil Dalam Negeri (LHDN) – Inland Revenue Board of Malaysia
  2. Pertubuhan Keselamatan Sosial (PERKESO) – Social Security Organisation
  3. Kumpulan Wang Persaraan (KWAP) – Retirement Fund Incorporated
  4. Muda Agricultural Development Authority (MADA)
  5. Majlis Agama Islam Wilayah Persekutuan (MAIWP)
  6. Federal Agricultural Marketing Authority (FAMA)
  7. National Film Development Corporation Malaysia (FINAS)
  8. Institut Penyelidikan Perhutanan Malaysia (FRIM) – Forest Research Institute Malaysia
  9. Suruhanjaya Perkhidmatan Air Negara (SPAN) – National Water Services Commission
  10. Lembaga Pembangunan Langkawi (LADA)
  11. Institut Penyelidikan Keselamatan Jalan Raya Malaysia (MIROS)
  12. Skills Development Fund Corporation (PTPK)
  13. Land Surveyors Board Malaysia (LJT)
  14. Majlis Pembangunan Wilayah Ekonomi Pantai Timur (ECERDC)
  15. Pembangunan Sumber Manusia Berhad (HRD Corp / HRDF)
State Agencies & Regional Development Authorities
  1. Lembaga Pelabuhan-Pelabuhan Sabah (LPPS)
  2. Penang Regional Development Authority (PERDA)
  3. Central Terengganu Development Authority (KETENGAH)
  4. Penang Development Corporation (PDC)
  5. Lembaga Kemajuan Kelantan Selatan (KESEDAR)
  6. Lembaga Kemajuan Johor Tenggara (KEJORA)
  7. Perbadanan Labuan (PL)
  8. Perbadanan Putrajaya (PPJ)
  9. Perbadanan Pembangunan Ekonomi Sarawak (SEDC)
  10. Perbadanan Kemajuan Negeri Selangor (PKNS)
  11. Perbadanan Kemajuan Negeri Perak (PKNP)
  12. Perbadanan Kemajuan Kedah (PKNK)
Port & Transport Authorities
  1. Lembaga Pelabuhan Bintulu (LPB)
  2. Lembaga Pelabuhan Labuan (LPL)
  3. Lembaga Pelabuhan Klang (PKA)
  4. Lembaga Pelabuhan Johor (LPJ)
  5. Lembaga Pelabuhan Kuantan (LPKtn)
Higher Education Institutions (Universities)
  1. Universiti Sains Islam Malaysia (USIM)
  2. Universiti Utara Malaysia (UUM)
  3. Universiti Malaysia Pahang Al-Sultan Abdullah (UMPSA / UMP)
  4. Universiti Malaysia Terengganu (UMT)
  5. Universiti Malaysia Perlis (UniMAP)
  6. Universiti Sultan Zainal Abidin (UniSZA)
  7. Universiti Teknikal Malaysia Melaka (UTeM)

Major Local Councils (ePBT / SAGA Integrated)
(Censof deploys integrated SAGA systems across municipal councils via its ePBT local authority solutions).
40. Majlis Bandaraya Shah Alam (MBSA)
41. Majlis Bandaraya Petaling Jaya (MBPJ)
42. Majlis Bandaraya Subang Jaya (MBSJ)
43. Dewan Bandaraya Kuala Lumpur (DBKL)
44. Majlis Perbandaran Klang (MPK)
45. Majlis Perbandaran Kajang (MPKj)
46. Majlis Perbandaran Ampang Jaya (MPAJ)
47. Majlis Perbandaran Selayang (MPS)
48. Majlis Bandaraya Melaka Bersejarah (MBMB)
49. Majlis Bandaraya Ipoh (MBI)
50. Majlis Bandaraya Iskandar Puteri (MBIP)

With average system upgrade looking at RM 15 million, 100 agencies will see a potential future pipeline of RM 1.5 billion in contract value, spread over 5 years.

That will be additional RM 300million of high margin revenue, follow up with future maintenance contract for CENSOF.


In my opinion, currently at 20 cents, with net cash position, CENSOF is a very good entry for long term investment.



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