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Payments Network Malaysia Sdn Bhd (PayNet) is the national payments network and shared central infrastructure for Malaysia’s financial markets. It was formed from the merger between the Malaysian Electronic Payment System (MEPS) and Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) on 1 August 2017. [1]
In August 2017, MEPS merged with Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) to form Payments Network Malaysia Sdn Bhd (PayNet). With the result of the merger, PayNet is now the holding company for the PayNet Group which comprises two main subsidiaries, namely Malaysian Electronic Payment System Sdn Bhd (MEPS) and MEPS Currency ...
The official launch was at the Sungai Dua toll plaza and officiated by Rangkaian Segar Sdn Bhd's then-chairman, Datuk Dr Ramli Mohamad. The Touch 'n Go system was implemented in Cityliner Sdn Bhd, a stage bus service in Klang Valley in 2000. [dubious – discuss] Touch 'n Go card users enjoyed discount fares of 10% when it was first introduced ...
Touch 'n Go eWallet was one of the three e-wallet services in Malaysia (the other being Boost and GrabPay) that was eligible for its users to receive an RM30 stimulus plan as part of the E-Tunai Rakyat program under the Budget 2020 plan, which encourages the adoption of cashless and mobile payment in Malaysia. [29]
The Albukhary Group of Companies is a diversified business group consisting of DRB-HICOM, MMC and Tradewinds Plantation. [3] [2]In May 2020, Malaysia's Ministry of Communications and Multimedia awarded the highly lucrative 5G telecommunications spectrum contract to a company called ALTEL, a subsidiary of Puncak Semangat, a firm primarily controlled by Syed Mokhtar.
In 2019, it went on to acquire a payment gateway system from Segovia, a financial technology company focused on cross-border payments. [5] The company was the subject of an initial public offering on the London Stock Exchange, which valued the company at £851 million, in July 2023. [6] [7] [8]
In 2010, Cheng acquired 33.5 million shares in Lion Industries Corp Bhd, one of the group's subsidiaries. [3] In 2018, Lion Industries entered into an agreement to acquire the assets of Megasteel Sdn Bhd in an attempt to pay off the latter's debts. Cheng is a shareholder in both companies. [4]
PSH Express Sdn Bhd PSH Venture Capital Sdn Bhd 100% 12 PSH Investment Holdings (BVI) Ltd Pos Malaysia & Services Holdings Berhad 100% 13 PSH Properties Sdn Bhd Pos Malaysia Berhad 100% 14 PSH Venture Capital Sdn Bhd Pos Malaysia Berhad 100% 15 Real Riviera Sdn Bhd PSH Properties Sdn Bhd 100% 16 Effivation Sdn Bhd Pos Malaysia Berhad PSH ...