Malaysian payment solutions provider Revenue Group Bhd is looking to transfer its listing into the Main Market of Bursa Malaysia in 2020, the company’s top executive said.
Although it listed on the ACE Market in July 2018, Revenue Group sees earnings growth potential which will support its plan to transfer the listing, group CEO and MD Eddie Ng Chee Siong said in The Edge report.
In the nine months period ended March 31, 2019, Revenue Group booked 33.8% increase in net profit at 6.85 million ringgit ($1.66 million) from 5.12 million in the previous year. Meanwhile, the company’s total revenue stood at 43.94 million ringgit, 88.3% higher than a year earlier at 23.34 million ringgit.
The company’s higher financial performance was supported by increase in sales of EDC terminals. By end of June 2019, Revenue Group had deployed more than 15,000 EDC terminals while by December 2018, it deployed 2,000 EDC terminals.
According to its website, Revenue Group’s business segments include deployment of EDC terminals, electronic transaction processing, as well as solutions and services related to payment infrastructure.
The group’s transaction volume is expected to grow by double-digits annually, Ng said. Aside from this organic growth plan, Revenue Group also eyes acquisitions to enhance its business and grow into another part of its supply chain.
Earlier in this year, Revenue Group acquired 51% stake in Buymall Services Sdn Bhd, the operator of online marketplace that also provides procurement services for consumer goods from overseas e-commerce websites as well as cross-border logistics and last-mile deliveries. The company also acquired 70% stake in Malaysia’s bill payment gateway company Anypay Sdn Bhd.