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BUSINESS

Pertama Digital gets nod to dispose of BeTop, to focus on digital services

10/08/2022 03:02 PM

KUALA LUMPUR, Aug 10 (Bernama) -- Pertama Digital Bhd has gained the majority vote from its shareholders to dispose of its entire equity interest in China-based textile subsidiary, BeTop, to Gifted Investments Ltd (GIL) for a total consideration of RM70 million.

Pertama Digital said 99 per cent of votes were received in support of the asset sale during its virtual extraordinary general meeting (EGM), attended by shareholders and their representatives as well as board members today.

Its independent non-executive chairman, Tun Zaki Tun Azmi, said with the disposal underway, Pertama Digital will also be reclassified from a textile-based company to digital services, with Shariah-compliant business.

“Our digital solutions offered so far have been received extremely well and show bright growth prospects. We developed and operate eJamin, the world’s first smartphone court bail payment solution, that is now used in Malaysian courts.

“We also exclusively operate mySMS 15888, an existing messaging service used by government agencies. On top of that, we also own mobile payments app, MyPay,” he said in a statement released after the EGM.

Meanwhile, director of strategy Saify Akhtar said with the disposal of this legacy business, Pertama Digital will now be free to efficiently deliver on its innovative strategy to transform how government agencies and enterprises approach digitalisation in this rapidly expanding sector, not just in Malaysia, but in other emerging markets like Indonesia, Bangladesh and Nigeria.

“Furthermore, as a Malaysian-born company, our stakeholders and leadership will now have a local majority. The company will continue to deliver swift, lean, and useful digital solutions and services on a pay-for-performance revenue model in close partnerships with government and enterprise,” he said.

Pertama Digital said to date the disposal of BeTop had progressed up to tranche 2, which was completed on July 16, 2021.

“On Sept 21, 2020, the first cash payment of RM12 million was received from GIL, followed by a second cash payment of RM18.515 million on July 16, 2021. Currently, Pertama Digital owns a stake of 52 per cent in BeTop, following the tranche 2 deal,” it added.

-- BERNAMA

 

 


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