KUALA LUMPUR – ManagePay Systems Bhd’s (MPay) wholly owned unit, ManagePay Resources Sdn Bhd (MRSB), has received conditional approval from the Local Government Development Ministry to operate as an online moneylender under the Moneylenders Act 1951 (Act 400).
In a filing with Bursa Malaysia today, MPay said MRSB’s online moneylending licence, dated August 30, 2022, was subject to the conditions to be fulfilled within six months from January 9, 2023 to July 8, 2023.
MPay said the conditional approval will not have any material effect on the earnings per share and net assets per share of the company and its subsidiaries for the financial year ending December 31, 2023.
It added that the conditional approval would not have any effect on the share capital, gearing, and substantial shareholders’ shareholdings of the company. – Bernama, January 5, 2023
