Malaysia’s Revenue Group may transfer listing to Bursa Main Market in 2020

Bursa Malaysia

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.

 

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.