CUSCAPI BERHAD ("CUSCAPI" OR THE “COMPANY”) MEMORANDUM OF UNDERSTANDING BETWEEN THE COMPANY AND PT. CARTENZ INTI UTAMA
1. INTRODUCTION The Board of Directors of Cuscapi wishes to announce that the Company, had on 15 th January 2020 entered into a Memorandum of Understanding (“MOU”) with PT Cartenz Inti Utama (“PT. CIU”). (each hereinafter referred to as a “Party”, and collectively “the Parties”) 2. DETAILS OF THE MOU (a) The Company is in the business of providing hardware and/or software solutions to its customers that operate in the retail and/or food and beverage businesses. (b) PT. CIU is desirous to purchase the POS product (“Product”) from the Company. (c) The Parties are desirous to collaborate for the supply and implementation of 20,000 POS units that are slated to be delivered over a period of two (2) years in Indonesia. The relevant details are covered under this MOU and will be further set forth in the definitive agreements to be entered into with each party's local subsidiary namely PT Cuscapi Indonesia and PT Zeepos Teknotama Mandiri.
It's not the mou this time round. It's the lead with myeg rolling out the previous tax monitoring system which should be deployed here at Malaysia back to GST era. Now they both going Indonesia. Cuscapi being the pioneer in tax monitoring software if you get what I meant.
PETALING JAYA: Information technology company CUSCAPI BHD has inked a memorandum of understanding (MoU) with PT Cartenz Inti Utama, a MyEG Services Bhd associate company in Indonesia, for the potential supply of 20,000 point-of-sale (POS) units.
According to a Bursa Malaysia filing, the 20,000 POS units are to be delivered over two years, and further details of the deal will be set forth in the definitive agreement between subsidiaries PT Cuscapi Indonesia and PT Zeepos Teknotama Mandiri.
Industry sources reckon that the potential sales contract could range from US$6mil to US$8mil (RM24.45mil to RM32.6mil), at a price of US$300 to US$400 (RM1,222.65 to RM1,630.20) for each POS unit.
“Cuscapi is growing its reach in Indonesia and there could be more of such announcements to come, given the large market size in Indonesia, ” a source said.
In a statement yesterday, Cuscapi group CEO Anthony Gerald Victor said Cartenz is embarking on a roll-out of its country-wide ICT implementation project for food and beverage businesses in Indonesia.
The MoU signed marks the first step of a strategic partnership between Cuscapi and Cartenz, which will extend Cuscapi’s footprint and increase its POS hardware installed user base.
“In all the markets we are present, Cuscapi empowers the F&B industry to deliver seamless digital experiences for customers with our cutting-edge solutions like our flagship C360 Engage. This strategic partnership with Cartenz is taking that success a step further as we venture into the Indonesian market.
“The supply of 20,000 units of POS is but a first step in many collaborations with Cartenz. We are excited to be part of the journey with them as we work towards advancing Indonesia together, ” he said.
For the nine months of the financial year ended Dec 31,2019, Cuscapi registered a net loss of RM6.11mil, on the back of a revenue of RM18.79mil, due to lower maintenance and hardware sales as well as timing differences in recognition of revenue.
Industry sources reckon that the potential sales contract could range from US$6mil to US$8mil (RM24.45mil to RM32.6mil), at a price of US$300 to US$400 (RM1,222.65 to RM1,630.20) for each POS unit.
Price has not been below 0.16 since Dec 2018. The share price is going downward despite the good news. I suspect the court case results will be out soon.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Posted by NicholasNWH90 > 2019-12-20 11:31 | Report Abuse
Always good volume these 2 weeks but price never goes up.