General Announcement for PLC

27/07/2020

OTHERS MANAGEPAY SYSTEMS BERHAD ("MPay" or "the Company") - Joint Venture and Shareholders' Agreement between ManagePay Services Sdn. Bhd., a wholly-owned subsidiary of the Company and Passion Venture Capital Pte Ltd in relation to the setting up of a joint venture company ("JVC") and application for a digital bank operating licence in Malaysia ("Proposed JV")

MANAGEPAY SYSTEMS BERHAD

Type Announcement
Subject OTHERS
Description 
MANAGEPAY SYSTEMS BERHAD ("MPay" or "the Company")
- Joint Venture and Shareholders' Agreement between ManagePay Services Sdn. Bhd., a wholly-owned subsidiary of the Company and Passion Venture Capital Pte Ltd in relation to the setting up of a joint venture company ("JVC") and application for a digital bank operating licence in Malaysia ("Proposed JV")

The Board of Directors of the Company wishes to announce that ManagePay Services Sdn. Bhd. (“MPSB”), a wholly-owned subsidiary of MPay, had on 27 July 2020 entered into a Joint Venture and Shareholders’ Agreement (“Agreement”) with Passion Venture Capital Pte Ltd (“PVC”) to set up a JVC to apply for and/or procure a digital bank licence from Bank Negara Malaysia (“BNM”) and subsequent thereto, to operate a digital bank, in accordance with the terms and subject to the conditions in the Agreement for the purpose of furthering the Proposed JV.

 

Please refer to the attached file for further details of the Proposed JV.

 

This announcement is dated 27 July 2020.


Please refer attachment below.

Attachments

MPay - Proposed JV.pdf
70.7 kB


Announcement Info

Company Name MANAGEPAY SYSTEMS BERHAD
Stock Name MPAY
Date Announced 27 Jul 2020
Category General Announcement for PLC
Reference Number GA1-27072020-00074


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