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More business transparency with new ASEAN digital registry: Malaysia, New Zealand

AvantiKumar | May 18, 2017
New Zealand Trade Commissioner Matt Ritchie said the partnership is "particularly relevant coming in the year that New Zealand marks the 60th anniversary of bilateral relations with Malaysia."

OMESTI-FosterMoore Signing Ceremony

Photo - (From left) Gerard Monteiro, Executive Director of OMESTI; with Kim de Moor, VP Catalyst Consulting of Foster Moore International

 

  More business transparency throughout the Asean region may be possible following a recent partnership involving Malaysia's Omesti and New Zealand's Foster Moore International.

This move is to help meet the demand from governments and regulatory bodies through the Asean region for greater transparency across the corporate landscape, said the technology partners.

Digitisation is helping to make possible some of these demands. Earlier this year, an organisation-wide open source driven digital transformation programme was announced by Malaysia's Companies Commission, Suruhanjaya Syarikat Malaysia (SSM). (See - Malaysia's Companies Commission steps onto the transformation highway)

In this latest announcement, public-listed Omesti and Foster Moore International will use the latter's proprietary electronic registry solution, Catalyst, across Asean and beyond.

As well as better transparency, the implementation offers other benefits such as cost-savings and operational efficiencies, while complying with local statutory legislation.

 Unified system should transform the landscape

This unified registration and reporting system will also deliver improved data access, enhanced functionality and streamlined operations for agencies and end-users, added the partners.

Omesti is implementing the system regionally in territories that include - but are not limited - to Singapore, Hong Kong, Vietnam, Myanmar and Malaysia.

To date, the solution has been used in many territories including North America, Africa, the Middle East and Labuan.

In many of the implementations mentioned above, the partners said that "a typical project involves the deployment of an integrated business registry management solution in full compliance with local statutory requirements. This enables digital management of the entire process of company registration, statutory filing and other corporate reporting."

Data is captured through this secure, scalable platform while an on-board data analytics module provides management dashboard, customer insights and statistical analysis.

Commenting on this announcement, Omesti executive director Gerard Monteiro said: "As stakeholders everywhere push for greater transparency and access to corporate information, the implementation of such a robust solution like Catalyst will transform the business landscape."

Foster Moore's chief executive Joel Foster added: "We are impressed with Omesti's skillset, experience and culture.  Their track record in areas such as eCOURTS, in Malaysia, demonstrates their ability to work with clients to improve service delivery through the application of software."

Omesti's involvement with digitisation of parts of Malaysia's legal machinery was first announced in September 2014.  (See - IT in Law: Malaysia's legal profession set to embrace change). One of the first completed implementations was in Kota Bahru, officially announced in May 2015. (See - IT in Law: Omesti's eCOURTs system now live in Kota Bahru.
 
The Malaysia-New Zealand partnership

Matt Ritchie, trade commissioner, New Zealand Trade & Enterprise, said that the formation of this corporate registry partnership was "particularly relevant coming in the year that New Zealand marks the 60th anniversary of bilateral relations with Malaysia."

"This anniversary is a chance to reflect on what we have achieved together and look forward to a vibrant partnership in the future," said Ritchie. "The tie-up between Foster Moore and Omesti is a good example of the promising future ahead."

[You may also find a comprehensive collection of leadership insights on transformation and other economic trends in Malaysia's ICT industry in 2017 here - What's really in store for Malaysia's IT industry in 2017?]

The latest edition of this article lives at Computerworld Malaysia.

 

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