Posted by Jimmy Song > 2013-12-02 09:41 | Report Abuse

CENSOF PROFITS GAINING MOMENTUM Censof sees strong double-digit growth for its Q3FY2013 PETALING JAYA, 29 NOVEMBER 2013 – Censof Holdings Berhad (‘Censof’ or the ‘Group’) announces the Group’s results for its financial quarter ended 30 September 2013 with a revenue of RM7.65 million seeing a 43.5% increase compared its corresponding quarter last financial year. Censof’s current quarter under review reports a profit before tax (“PBT”) of RM1.35 million and a profit after tax (“PAT”) of RM1.23 million which represents a profit growth of 75.7% and 66.9% respectively as compared to its last quarter ended 30 June 2013: with its PBT translating to basic earnings per share of 0.33 sen. In terms of the Group’s cumulative financial performance to-date for the financial period ended 30 September 2013, Censof has recorded a revenue of RM33.1 million and a PAT of RM4.2 million. The Group has announced today that there will be change of its financial year from year ending 31 December 2013 to the 31 March 2014. Earlier this morning the Board held its Extraordinary General Meeting (“EGM”) in respect of its Proposed Redeemable Convertible Notes (“RCN”) Issue. The Proposed RCN Issue involves the issuance of an aggregate principal amount of up to RM100 million nominal value of RCN in four (4) tranches with multiple sub-trances in each tranche, which will mature on the date falling 36 months from the closing date of the first sub-tranche for the RCN first tranche. “The proceeds raised from the Proposed RCN Issue will be used to fund strategic acquisitions and to repay any borrowing undertaken to fund such acquisition.” commented Datuk Samsul Husin Group Managing Director for Cenosf Holdings Berhad. Earlier this week on the 27 November 2013, Censof had announced that the TIME Engineering Berhad acquisition has been completed pursuant to the successful transfer of the remaining 170,155,958 Sale Shares representing 21.95% equity interest in TIME Engineering Berhad from Khazanah Nasional Berhad to Censof. Hence, with this completion of the acquisition, TIME Engineering Berhad is now a 45.03% owned subsidiary company of Censof Holdings Berhad. “Now with the acquisition completed, we will focus on creating value for both companies and capitalise on the business synergies and maximise on the newly combined services and assets to its full potential.” Datuk Samsul said.