Azizan Osman not ruling out the possibility of increasing his shares in MPay

By Johardy Ibrahim editor@dagangnews.com

Datuk Wira Dr. Azizan Osman

KUALA LUMPUR (14 Mar) - Entrepreneur mentor Datuk Wira Dr. Azizan Osman did not rule out the possibility of increasing his stake in Managepay System Berhad (MPay).

"It is in the planning but we will announce when the time comes," he told DagangNews.com recently.

Azizan owns 10.58% of MPay's equity, making him a major shareholder in the company, including his wife, Datin Wira Hasdiana Ahmad, who indirectly holds 5.35% of MPay's shares.

The largest share of MPay is held by Datuk Chew Chee Seng as the Managing Director and CEO of MPay with 21.13% stake.

Azizan's investment was made through his company, RichWorks International Capital Holdings Sdn. Bhd. (RiCH), the investment arm of RichWorks International Sdn. Bhd. which handles entrepreneurial mentoring and marketing services.

Azizan emerged in the corproate world in July 2021, attracted the attention of investors and stock traders who saw it as a positive development due to his huge influence.

With 14 years in the industry, RichWorks has successfully mentored businesses and brands in a variety of industries spanning fashion, cosmetics, beauty, health, education, food and beverages and more.

Asked why he has not yet sat on the MPay Board of Directors, Azizan said he wanted to take the time to delve deeper into the affiars of the corporate world.

According to Azizan, what is important is how a person when occupying a board seat can bring added value to the company, including from determining the right focus and strategy.

"Indeed, Datuk Chew had invited me to join the Board early on but I postponed it.

I wanted to prepare myself, including increasing my knowledge by following the Executive MBA program soon by taking a business course at the IMD Business School in Lausanne, Switzerland," he explained.

To a question, Azizan admitted that he approached MPay for investment purposes because of his confidence in the company's prospects, especially in the Financial Technology (Fintech) sector.

MPay has submitted an application for a digital banking license to Bank Negara Malaysia (BNM) through their wholly-owned subsidiary, ManagePay Services Sdn. Bhd. (MPSB) along with three strategic partners, namely Trustgage Berhad, Crescent Capital Sdn. Bhd. and RichWorks International Sdn. Bhd.

MPay is positive about the application made and the formation of a partnership with a strategic partner which is a fully controlled entity by Bumiputra and has shown interest in investing in MPSB's equity when the application is successful and subject to BNM's approval.

Bank Negara, which received 29 digital bank license applications, is expected to announce the results of the five licensees, anytime this month.

In additional, in January, MPay received approval as a software platform service provider fo the Majlis Bandaraya Pulau Pinang (MBPP) through cashless payment methods through JomPAY, internet and mobile banking, Visa and MasterCard, e-wallets and other payment channels.

"Such fintech developments have convinced me to invest in MPay," he said.

Dr. Azizan Osman conducted a mentoring session for businessmen at the Kuala Lumpur Convention Center on 7 March 2022

Azizan is a Certified Coach for Business, Marketing and Leadership, Mentor and Strategist, Author of the Bestselling Entrepreneurship Series.

He is a World Class Business Educator and Asia's No. 1 Business, Marketing & Leadership Coach known for his unique ability to guide his students through the company he founded, RichWorks International Sdn. Bhd. to the point of gaining tremendous growth in business.

Thousands of business owners and entreprenuers have succeeded through its proven successful strategies and methodologies to increase their business growth from zero to reach sales of millions of dollars. - DagangNews.com