Press Release

Press Release – Khazanah Satu Sdn Bhd (Khazanah Satu) to acquire all outstanding shares of BAG Networks Sdn Bhd.

Khazanah Satu Sdn Bhd (Khazanah Satu) announced that it has reached an agreement with its joint venture partner, Accenture, to acquire all outstanding shares of BAG Networks Sdn Bhd (BAG Networks), effective 30 May 2018.

“Over the last seventeen years Accenture and BAG Networks have built a track record of success in technology implementation and consultancy services, now we look forward to continuing our mission of establishing BAG Networks as Brunei Darussalam’s premier IT Company,” said its Chief Executive Officer Haslina Hj Mohd Taib.

“To further expand our reach and support even more clients, we intend to pursue additional partnering opportunities locally and internationally. The Company remains committed to providing best-in-class client service and ensuring our dynamic approach in upskilling the local IT talent pool to help advance more innovative and sustainable solutions for the future.”

BAG Networks has contributed to the success of key eGovernment and private sector projects and is well positioned for continued success. Public sector engagements include: the Treasury Accounting Financial Information System (TAFIS), the Government Employee Management System (GEMS), the Tourism Masterplan, the System for Tax Administration and Revenue Services (STARS) and more recently, the Registry of Companies and Business Names (ROCBN). BAG Networks’ private sector engagements include an Integrated Financial Management System, IT Infrastructure Consolidation and Technology Refresh, various SAP consultancy and development projects for oil and gas and more.

Bandar Seri Begawan, Brunei Darussalam

Wednesday, 14 Ramadhan 1439 | 30 May 2018

Press Release by BAG Networks Sdn Bhd.

Frequently Asked Questions (FAQ)


Why did it happen?

Accenture is undergoing global business restructuring and opted to exit the Joint Venture.


Who owns Khazanah Satu?

Khazanah Satu is a Government owned company under the Ministry of Finance


Does this mean you are now a Government Linked Company?

Yes


Will you be changing your company name?

Yes. We are currently waiting for confirmation on the approval of our new company name. Once it is approved, we will be announcing it via the media.


Will there be any changes to your Board of Directors or Management?

Accenture will no longer be part of the Board of Directors, Our Chairman is currently the Minister of Finance II

Our Management remains the same. Our CEO is currently Haslina Hj Mohd Taib.


Will this impact your services?

Accenture’s departure will have no material impact on our business performance, our contractual obligations and our services.

We remain committed to providing high quality services to all our clients.


Will this impact the solutions that you provide without Accenture to support you?

We have our own internal capabilities and internationally recognized to deliver best fit solutions for our clients as per our track record.

In addition, we have already established partnerships with other solution providers to ensure we meet our customers’ needs and business requirements.


Now that Accenture is no longer a part of the Joint Venture, does this mean your services will be cheaper?

We have been providing competitive rates for our solutions and services and will continue to do so.


Would you still have Accenture resources to deliver your projects and services?

We have developed our own local resources who have served our clients and delivered successfully as per our track record.

We have several partners working with us on several projects and Accenture may become one of our partners.


Will this impact you financially?

No, We have been managing our own finances independently.


Will you be moving office again?

We are still located at the Design and Technology Building, Anggerek Desa Tech Park.


How are your personnel affected by this?

We have been in existence for 17 years and we have experienced changes and have built strength as an institution for any change. The Management has briefed us on the transition and we are positive this will create more opportunities for the company and for our career growth.