Pertama Digital increases further 24 pct equity interest in Dapat Vista

23/07/2021 07:59 PM

KUALA LUMPUR, July 23 -- Pertama Digital Bhd is increasing its equity interest in government technology (govtech) software company Dapat Vista (M) Sdn Bhd to a further 24 per cent.

In a filing with Bursa Malaysia today, Pertama Digital said the stake would be acquired via contractual option exercised by its subsidiary, Television Airtime Services Sdn Bhd (TAS), from Dapat Vista’s other shareholder, HeiTech Padu Bhd.

It said under the contract signed in 2019, TAS has the right to acquire up to 60 per cent ordinary shares in Dapat Vista until December 2023.

“Before 2020, TAS was a 20 per cent shareholder in Dapat Vista while HeiTech Padu held the remaining 80 per cent. Completion of the acquisition will see TAS increasing its ordinary shareholding to 80 per cent while HeiTech Padu becomes a 20 per cent shareholder,” it said.

Executive director Sabri Ab Rahman said although TAS is allowed another two years to complete the acquisition, the company is executing its rights now to strategically take advantage of the global flight to digitalisation.

“Pertama Digital will capitalise on the business uptrends consistently delivered by Dapat Vista throughout the pandemic and make good on its investment in TAS. Of course, this bodes well for Dapat Vista’s larger contribution to the bottomline of Pertama Digital,” he said.

In May 2020, Pertama Digital acquired 51 per cent stake in TAS, which is the holding company of Dapat Vista that owned and operates the government SMS portal mySMS, mobile payments app MyPay as well as eJamin, the world’s first smartphone court bail payment solution.


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