ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconFacebook IconIcon FacebookGoogle Plus IconLayer 1InstagramCreated with Sketch.Linkedin IconIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerIcon Opinion QuotePositive ArrowIcon PrintRSS IconIcon SearchSite TitleTitle ChevronTwitter IconIcon TwitterYoutube Icon
Nikkei Markets

Malaysia's ManagePay Systems, Contracts Rise To Form JV For Mobile Operator License

By Gho Chee Yuan
Nikkei Markets
KUALA LUMPUR (Aug 09) -- ManagePay Systems, an electronic payment system provider, said Wednesday it plans to form a joint venture with Contracts Rise for the procurement of mobile virtual network operator licence from Malaysian Communication and Multimedia Commission.

The move will help to launch and promote self-branded MVNO starter pack to all Malaysian and foreigners in Malaysia, the company said in an exchange filing. ManagePay will control 40% stake in the JV, while the remainder will be held by Contracts Rise.

Under the agreement, Contracts Rise shall secure a project of 200,000 users while ManagePay will empower each user with e-Money capabilities via MPay E-Wallet, it said. "This provides growth and business prospects for MPay in the future," it added.

The proposed JV is expected to be completed within five years from today, it said.
- By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; 60320267363
- Edited by Lopamudra Bhattacharya
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

Get unlimited access
NAR site on phone, device, tablet

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

3 months for $9

Get unlimited access
NAR site on phone, device, tablet

Your trial period has expired

You need a subscription to...

See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

See all offers
NAR on print phone, device, and tablet media