- To become first digital
payments service provider listed on SGX
- RTO of Catalist-listed
Artivision Technologies Ltd. approved at EGM with expected completion on 18 Feb
2021
- Artivision Technologies Ltd.
will be renamed to MC Payment Limited
- Well-positioned to capitalise
on ASEAN’s booming digital payments market
SINGAPORE – Media OutReach – 26 January 2021 – Artivision Technologies Ltd. (SGX:5NK) (“Artivision“,
the “Company” or the “Group“)
shareholders approved the proposed reverse takeover (RTO) of electronic
payments company, Mobile Credit Payment Pte. Ltd. (“MC Payment”), at an
Extraordinary General Meeting (EGM) in Singapore last Friday. With the expected
completion of the acquisition on 18 February 2021, Artivision will be renamed MC
Payment Limited, and is set to become the first listed digital payments services
firm on the SGX-ST.
Established in 2005 and regulated by the Monetary
Authority of Singapore (MAS) under the Payment Services Act 2019, MC Payment holds
a major payment institution licence and is a Singapore-based, online-to-offline
(O2O) financial services technology company with a fully integrated platform and
with a focus on servicing merchants in the retail, transportation and food and
beverage industries.
The proposed acquisition of MC Payment is expected
to be completed on 18 February 2021. ZICO Capital is the Sponsor and Financial
Adviser in respect of the Proposed RTO and Evolve Capital Advisory is the
financial adviser to MC Payment.
The Company is of the view that MC Payment’s listing
comes at an opportune time, with digital payments surging in Southeast Asia amidst
the rise in online and e-commerce transactions, in light of safe-distancing
measures imposed by respective government and general public’s concerns over
the COVID-19 outbreak. The Group retains a competitive edge with its accessibility,
omni-channel unified commerce capabilities and ability to leverage on its
platform for additional business enhancing value-added services, leveraging on
its position as one of the few licensed payment providers with a regional
presence and a scalable payment infrastructure.
Currently, MC Payment has a presence in four
countries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to
become a regional player. With digital payments in ASEAN expected to triple to
US$1.5 trillion (S$2 trillion) by 2030[1],
the Group is well-placed to capitalise on this significant and growing market
opportunity, given its established infrastructure and expanding geographical footprint.
Future growth avenues for the Group include
penetrating new geographical markets through mergers and acquisitions, joint
ventures and/or franchises, developing new technology and other payment
solutions, as well as rolling out new value-added services for merchants, to
boost customer retention and expand its customer base.
“We’re expecting a robust growth
trajectory for the Southeast Asian payments industry, following a surge in
digitisation, spurred by increased access to 5G mobile technology, blockchain
and AI, coupled with the rapid rise of e-commerce. We look forward to an
exciting future in the digital payments industry, one that is filled with immense
possibilities and opportunities,” said
MC Payment Chief Executive Officer, Anthony Koh.
[1] This
information was extracted from a media release entitled “Digital payments in
Asean to triple to US$1.5t by 2030: report” published by The Business Times on
16 October 2020, which can be accessed at: https://www.businesstimes.com.sg/asean-business/digital-payments-in-asean-to-triple-to-us15t-by-2030-report#:~:text=DIGITAL%20payments%20in%20Asean%20are,Global%20Research%20Asean%20Next%20report., data
accessed on 26 January 2021.
This press release prepared by MC Payment. (the
“Company”) does not constitute, or form part of, an offer to sell or
the solicitation of an offer to subscribe for or buy any securities, nor the
solicitation of any vote or approval in any jurisdiction, nor shall there be
any sale, issue or transfer of the securities referred to in this press release
in any jurisdiction in contravention of applicable law. Persons requiring
advice should consult their stockbroker, bank manager, solicitor, accountant or
other independent financial consultant.
This press release should not be relied upon as
a representation of any matter that an advisor or potential investor should
consider in evaluating the Company. The Company and its related bodies
corporate or any of its directors, agents, officers or employees do not make any
representation or warranty, express or implied, as to the accuracy or
completeness of any information, statements or representations contained in
this press release, and they do not accept any liability whatsoever (including
in negligence) for any information, representation or statement made in or
omitted from this press release.
This press release contains certain forward
looking statements which involve known and unknown risks, delays and
uncertainties not under the Company’s control which may cause actual results,
performance or achievements of the Company to be materially different from the
results, performance or expectations implied by these forward looking
statements. The Company makes no representation or warranty, express or
implied, as to or endorsement of the accuracy or completeness of any
information, statements or representations contained in this press release with
respect to the Company.
It is acknowledged that the Company will not
undertake any obligation to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances or unanticipated
events occurring after the date of this press release except as required by law
or by any appropriate regulatory authority.
About MC Payment
MC
Payment is principally engaged in the provision of merchant payment services
and digital commerce enabling services, offering online-to-offline (O2O) solutions
through a fully integrated platform with a focus on servicing merchants in the
retail, transportation and food and beverage industries. Its end-to-end payment
platform offers comprehensive solutions for merchants, ranging from hardware
and software to data analytics and other technology-driven, value added
services tailored to specific industries. Its solutions cater to merchants with
both on-line and off-line presences, provided through a unified platform digitalising
engagements across all channels. MC Payment currently has a presence in four
geographical markets – Singapore, Malaysia, Indonesia and Thailand – with
ambitions to become a regional player.
For more information, please visit us at http://mcpayment.com/
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
In this episode of 'A Working Lunch with Nordin', MGBF's Nordin Abdullah and regional commentator Eddin Khoo will discuss the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will feature thought leaders form Japan, Australia, Singapore and Malaysia dealing with the critical issues of manipulation of public listed companies and government and their financial impacts.
A series of networking sessions with various business associations and trade organisations exploring high-value opportunities for business leaders and entrepreneurs looking to build the relationships that matter.
This integrated event will include a forum, dedicated business matching, site visits, a gala dinner and a round of golf. Aptly themed, the focus will be on regional food security issues and trends in the context of the supply chain, agriculture technology and trade regulations and policies.
MGBF In The News
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]