KUALA LUMPUR, April 1 (Bernama) — Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, today announced that it has completed the acquisition of the 30.87% equity interest in Asian Business Software Solutions Pte Ltd (“ABSS”) for RM14.1 million. The purchase consideration was arrived at a “willing-buyer, willing-seller” basis after taking into consideration, amongst others, ABSS’ historical financial performance, prospects and value of its proprietary software portfolio.
With the completion of the acquisition of this 30.87% stake, which was acquired from ABSS’ minority shareholders, namely Paul Alistair Jennings, Fox Equities Pty Ltd and Lum Chong Eu, who disposed of a 22.34%, 7.27% and 1.26% interest in ABSS respectively, Censof’s stake in ABSS has increased to 89.07% from 58.20% previously.
