MINETECH EXPANDS INTO FINTECH, TELECOMMUNICATIONS SECTORS

KUALA LUMPUR, June 15 -- Minetech Resources Bhd, Malaysia's largest aggregate mining conglomerate, has broadened its horizon into the financial technology (fintech) and telecommunications sectors.

Through its wholly-owned subsidiary, Techmile Resources Sdn Bhd (TRSB), Minetech won a contract from ARNN Technologies Sdn Bhd to design and fabricate an integrated data centre. 

The contract comes on the heels of TRSB’s acquisition of a local financial technology solutions firm, Uniqa (M) Sdn Bhd, which specialises in providing a suite of payment solutions aimed at transforming TRSB into a full-stack fintech solutions provider in Malaysia.

"Despite the disruptive nature of the pandemic, Minetech plans to aggressively shift our focus on the fintech and telecommunications sectors this year as part of our diversification strategy to expand into areas with huge growth opportunities," said executive chairman Datuk Awang Daud Awang Putera.

He said TRSB could become a regional payment solutions provider over the next five years by leveraging on the opportunities and demand for digitalised financial services. 

Minetech acquired Uniqa earlier in the year to leverage off its expertise in the domestic remittance market, which grew 47 per cent to RM52.4 billion in 2018 from RM35.57 billion in 2012.

Meanwhile, Konsep Khas Sdn Bhd, in which Minetech holds a 55 per cent stake was on June 11, 2021 awarded with the supplying, designing, constructing, completing, testing and commissioning of telecommunication structures contract under the Universal Service Provision (USP) and the Malaysian Communication and Multimedia Commission’s Projects in Sarawak through Valsa (Sarawak) Sdn Bhd.

“The project sites shall include but not solely limited to SMK Kubong, Sujan Estate, Kampung Danau, Kampung Angus Selatan and Kampung Kawang.

"The domestic telecoms market has witnessed strong growth in recent years, and I envisage that the trend will continue to rise within the next several years especially with the introduction of 5G in Malaysia," said Awang Daud.

-- BERNAMA