Cuscapi inks MoU with Indonesian company to supply 20,000 point-of-sale units

KUALA LUMPUR (Jan 15): Point-of-sale (POS) systems provider Cuscapi Bhd is collaborating with Indonesian-based PT Cartenz Inti Utama (PT CIU) for the supply and implementation of 20,000 POS units in Indonesia.

In a filing with Bursa Malaysia today, Cuscapi said it has entered into a Memorandum of Understanding (MoU) today with PT CIU to be strategic partners for the roll-out of F&B sector POS projects in Indonesia.

"Additionally, the strategic partnership with PT CIU will extend Cuscapi’s footprint and increase our POS hardware installed user base," it said.

Cuscapi said the relevant details may be further outlined in the definitive agreements to be entered into with each party's local subsidiary namely PT Cuscapi Indonesia and PT Zeepos Teknotama Mandiri.

The MoU will be valid for three years unless terminated by the parties.

PT CIU is primarily involved in the provision of innovative technology solutions for the Indonesian Government and assisting all levels of agencies and industries in the utilization of reliable and integrated information systems in Indonesia.

It is worth noting that PT CIU is an associate of My EG Services Bhd (MyEG).

On Monday (Jan 13), MyEG announced that PT CIU has secured additional government mandates to roll out its tax monitoring system to 30 more cities.

Since unveiling the joint venture in 2018, the group has started the implementation of real-time monitoring of business transactions for tax computation purposes, with installations in retail merchant premises presently ongoing in Jakarta under a pilot programme offered at no charge.

Shares of Cuscapi closed unchanged today at 16.5 sen with a market capitalisation of RM141.78 million.