Dataprep closer to profitability
Cheah Chor Sooi | 06 Sep 2019 00:30
Long-term shareholders of Dataprep Holdings Bhd would have probably given up hope on the company returning
to the black after nine consecutive years of losses. However, the company is riding on the boom in adoption of e-wallet services by businesses to steer it back to profitability.
According to group managing director Mohamad Sabir Mohamad Sabri, when Widad Business Group Sdn Bhd (WBG) acquired a 64.2% stake in Dataprep in 2017, it had drawn up a five-year strategic blueprint (2017-2022) to explore untapped opportunities in the fast-evolving ICT and media segment.
The introduction of an interoperable Quick Response Quote by Bank Negara Malaysia (BNM) is expected to significantly boost the overall functionality of e-wallet. The e-wallet market is projected to grow to US$250 bil by 2024, according to a 2019 Global Market Insights Inc report.
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