GHL Systems successfully transfers to Main Board from MESDAQ Market
Milestone to raise its profile in the international arena
GHL Systems Berhad (“GHL Systems”), a leading payment services enabler in the region, today successfully transferred its listing status to the Main Board of Bursa Malaysia Securities Malaysia (“Bursa Malaysia”) from the MESDAQ Market previously - becoming the second MESDAQ company to be promoted directly.
GHL Systems had fulfilled the stipulated requirements of achieving more than RM30 million in accumulated net profit for the past five years, and having a share capital of RM60 million. The approvals from Securities Commission and Bursa Malaysia were obtained on 3 November 2006 and 30 November 2006 respectively.
Elated at the Group's key milestone, GHL Systems' Group Managing Director, Tay Beng Lock said, “Our successful listing on the Main Board allows us to raise our profile in the international business and investing community, and marks the beginning of a new chapter for us. This status adequately reflects our current scale of operations as one of the leading integrated payment solutions providers in Asia Pacific.”
Continued Tay: “To date, our end-to-end payment solutions have gained wide acceptance not only within Malaysia, but also in Thailand, Philippines, and the People's Republic of China in increasing measure. We believe that among the reasons for our growing clientele base are our dedication to innovation, and attainment of highest industry standards for our products and services.”
“For instance, our in-house developed contactless reader is one of the three in the world certified by Visa, and recently certified by Mastercard Paypass as well - granting it access to the global markets. Also, we have pioneered various solutions and new ideas for the benefit of various industries, which we hope will enable us to keep expanding our clientele base and nurture our earnings stream in the future,” elaborated Tay.
GHL Systems was accorded notable industry accolades in recent years, including the “Ducoty Market Leadership in Malaysia Award” conferred by Frost and Sullivan and Cards Now Asia in 2005. In 2006, GHL won the “D'ucoty Gold Award for Product Innovation in the Banking Sector in South East Asia” by Cards Now Asia, the “Industrial Technologies Award for Vertical Market Penetration in the Smart Cards Financial Application Market, Malaysia” by Frost & Sullivan, and the “Visa Payment Security Services for Point-of-Sale (POS) Equipment Provider” certification by Visa.
In addition to its headquarters and R&D centre in Malaysia, the Group has set up direct presence across key economies in the region, namely Philippines, Thailand, and China.
Elaborating on the industry prospects, Tay said, “We are seeing an increasingly dynamic environment in the payment solutions sector, where solutions providers are expected to be more creative in improving product capabilities and in delivering speedy service. With our vast experience in product innovation and the setting up of offices in key countries, we believe that we are well-positioned to sustain our growth momentum in the coming years.”
