KUALA LUMPUR, Malaysia (July 1): PUC Bhd, an ACE Market-listed technology firm, stated today that it has submitted an application for a digital bank license to Bank Negara Malaysia through a consortium created in partnership with two state governments and a conglomerate. “The consortium was founded within BNM’s digital banking framework, and its members acknowledge the underserved sectors in Malaysia, which include micro, small, and medium companies (MSMEs) and B40 segment clients.”
PUC said in a statement that the consortium it leads will focus on services and solutions to fulfill the financial needs of these target sectors.
“The populations of both participating states have considerable percentage of the B40 category, which will be the initial client base.” Furthermore, the numerous unserved and underserved micro and small businesses in these two states will be given access to a user-friendly, mobile-based digital banking network, which will include micro-financing and other financial services,” according to the statement.
PUC, on the other hand, did not provide the names of any of its strategic partners.
It also claimed that its Presto digital ecosystem, which includes e-commerce, logistics, e-wallet, loyalty, financing, and payment solutions, will be a “natural complement” to the digital bank business it seeks, allowing it to drive innovation and accelerate digital transformation through its service offerings.
PUC’s share price fell one sen today, or 5.88 percent, to 16 sen, giving the company a market capitalization of RM183.15 million./n
