OpenSys gets shareholders’ nod for transfer to Main Market


KUALA LUMPUR: Financial services, telecommunications, and utilities solutions provider OpenSys (M) Bhd obtained its shareholders’ approval to transfer the group’s listing from the ACE Market to the Main Market of Bursa Malaysia Securities at an extraordinary general meeting on Thursday (Sept 29).

OpenSys, which expects to complete the transfer of listing by October, said in a statement that this exercise will enhance the group’s reputation and increase its recognition and acceptance among investors.

The group has a share of over 80% in Malaysia’s cash recycling machine (CRM) market.

CRMs are dual-function machines that are used by banks and financial institutions to replace stand-alone cash deposit and dispensing machines.

As CRM sales remain robust, OpenSys chief executive officer Eric Lim said the group remains on track to deliver approximately 400 units of CRMs and related peripherals by the end of 2022.

OpenSys is also in talks to equip more banks with CRMs as they digitalise their operations for greater efficiency.

“In addition, we are making good headway in our first major SmartCIT project by completing the roll-out to more than 100 Tenaga Nasional Bhd’s outlets nationwide. This project represents a breakthrough for our SmartCIT segment, and we are confident it will serve as an excellent reference site for banks and other payment kiosk customers,” Lim added.

The SmartCIT is a secure logistics solution that revolutionises and democratises the traditional cash-in-transit business, according to the group.

Share price of OpenSys, which listed on the ACE Market in January 2004, closed unchanged at 34.5 sen on Thursday for a market value of RM154.16 million.

Source : The Edge Markets


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