KUALA LUMPUR, Malaysia (July 1): ManagePay Services Sdn Bhd (MPSB), a wholly-owned subsidiary of Managepay Systems Bhd, applied to Bank Negara Malaysia for a digital banking license yesterday, according to a bourse filing. It stated that it has three local strategic partners, principally Bumiputera-controlled firms, who have expressed an interest in investing a total of 45 percent in MPSB if the application is approved and preceding regulatory approval is obtained.
“In the event that the application is approved, a formal agreement will be executed on a date to be agreed upon by the strategic partners and the company.”
“The application will have no impact on the company’s issued share capital or major shareholders’ shareholdings.” “The application is not expected to have any meaningful impact on the company’s net assets, profits, or gearing for the financial year ending December 31, 2021,” it stated.
The board of directors of the organization believes that the application is in the best interests of the organization.
Managepay, according to its website, provides payment solutions, e-commerce solutions, and an electronic wallet.
Managepay’s shares closed 2.08 percent or half a sen higher at 24.5 sen at noon market closing, valuing the company at RM195.01 million./n
