Propose a total single-tier final dividend of 6 sen per ordinary share ("Proposed Final Dividend") consisting of a final dividend of 3 sen and a special final dividend of 3 sen in respect of the financial year ended 31 March 2016, subject to the approval of the shareholders at the forthcoming Fiftieth Annual General Meeting of AMPROP.
KUALA LUMPUR (April 25): AllianceDBS Research said MMS Ventures Bhd (MMSV) had gapped up and that MMSV had on April 22 gapped up to reach a high of 53 sen before settling at 52.5 sen (up 3 sen or 6.06%).
In its evening edition last Friday, the research house said a crossover of the 53.5 sen hurdle would likely see MMSV trading upward with the next upside target pegged at 58 sen.
It said that risk taking traders could establish a buying position at 51.5 sen on a small pullback.
“Once a buying position is established, a stop loss at 50.5 sen level must be placed for risk capital protection, and this 50.5 sen is to be followed by a trailing stop loss strategy.
“If you are prepared to take a trading loss risk of RM10 (excluding brokerage) for RM65 potential profit, you may acquire 1,000 shares with a capital amount of RM515 assuming buying order is filled at 51.5 sen,” it said.
ManagePay climbs 3.57% following partnership with Fusionex
KUALA LUMPUR (Oct 27): Shares of ManagePay Systems Bhd ( Valuation: 0.00, Fundamental: 1.30) rose as high as 3.57% on the back of its partnership inked with Adv Fusionex Sdn Bhd (Fusionex) for the development of services related to big data analytics and e-payment.
At 10.26am, the stock gained as much as one sen to 29 sen before settling at 28.5 sen. A total of 4.88 million shares were traded.
Year-to-date, the stock has gained 27.27%, bucking the trend of the FBM KLCI which has declined 2.69%.
According to The Edge Research, the stock is currently trading at 3.83 times book with trailing 12-month P/E of 139.61 times.
Yesterday, ManagePay announced that it has signed a partnership agreement with Fusionex for the development of services related to big data analytics and e-payment.
ManagePay said Fusionex will provide ManagePay and its clients with data analytics, big data tools and platform support, while ManagePay will provide electronic money (e-money) and electronic wallet (e-wallet) services to clients of Fusionex.
The e-money and e-wallet services are slated to be rolled out at the end of the year.
Fusionex is a subsidiary of Fusionex International Plc which is listed on the London Stock Exchange.
The partnership will also explore the potential of a jointly developed payment gateway integrated with a big data analytics platform for ManagePay and Fusionex's clients, ManagePay said.
ManagePay group managing director and chief executive officer Chew Chee Seng had said the collaboration with Fusionex will provide deeper insights to organisations that require big data analytics for customer spending patterns or product mix trends according to market or region.
ManagePay had said the partnership is in line with its business strategy to develop a new scalable business earnings stream.
It also allows ManagePay to jump start into a broader ecosystem in cashless transactions, under the e-payment initiatives set out by Bank Negara Malaysia.
‘Malaysia is Asean’s fastest-growing e-payment market’
KUALA LUMPUR: Payments technology group MasterCard Inc is bullish about Malaysia’s electronic payment (e-payment) market, as the country moves towards a more cashless society, driven by Bank Negara Malaysia’s (BNM) “commendable” steps in promoting and facilitating the development of e-payment mechanisms in the country.
The increasing penchant for Malaysian consumers to shop online as more Malaysians access the Internet through their mobile phones — the number rose from 81.2% in 2012 to 94.5% in 2014 — also fuelled that optimism.
Last year, Malaysia ranked third in terms of mobile shopping growth in the Asia-Pacific, just behind Taiwan and India, according to a recent MasterCard mobile shopping survey. Malaysia posted over 20% growth, up from 25.4% in 2012 to 45.6% in 2014.
As such, MasterCard sees Malaysia as the fastest-growing e-payment market in Asean over the next five years, thanks to what it describes as the “forward-looking” central bank’s relentless push for cashless transactions.
“We see great potential in the Malaysian market, and Malaysia will have the most advanced payment system in the Asean region [in] the next 18 to 24 months,” said Safdar Khan, MasterCard Asia-Pacific Pte Ltd’s group country manager for Indonesia, Malaysia and Brunei.
“By the end of the year, 42 million cards will be chip- and PIN-enabled, and all the cards, especially the debit cards, will be contactless. This would further boost the e-payment system as low-value transactions are mostly done in cash,” he added.
Khan, who is also the group’s head of Islamic payments for the Southeast Asia region, said Malaysia’s e-payment market growth will also be spurred by its number of inbound tourists and steady domestic consumption.
Meanwhile, recent developments, like the one-time password mandate by BNM, are helping to make customers feel safe in using their cards for transactions, he said.
The rising number of e-payment terminals — note that the central bank aims to increase the ratio from 8:1,000 people to 25:1,000 pax by 2020 — together with the introduction of mobile payment services and applications, as well as near field communication (NFC)-enabled mobile devices here, are also expected to boost cashless transactions, he said.
“About 30% of all the new terminals will be contactless. This will further boost the usage of mobile devices as another mode of payment,” he said.
Contactless payment systems are cards, key fobs or other mobile devices, including smartphones, that use radio-frequency identification or NFC to make payments. Consumers only need to wave their card, fob or handheld device over a reader at the point of sale terminal.
Khan also added that card-based transactions now amount to US$38 billion (RM158.84 billion) per year — about 10% of the country’s gross domestic product (GDP) of US$326.9 billion in 2014 — while cash withdrawal from automated teller machines is about US$90 billion.
Malaysia is no longer considered a cash-based society as card-based transactions have now exceeded 5% of its GDP, said Khan. “The 10% does not include Internet banking and other payment modes. If these are included, the number would go up 17% to 18%, which is quite substantial,” he said.
Still, compared with some advanced economies where card-based transactions account for over 70% of their GDP, Malaysia still has a lot of room for growth.
Although consumer spending was dampened after the implementation of the goods and services tax (GST) in April, during which MasterCard saw a decline in transactions, Khan said the situation had started to stabilise.
“Our growth numbers now are similar with what we see in the previous year,” he said, adding that consumers had started to accept the GST as part of their lives.
MasterCard is primarily involved in the processing of payment transactions.