TECHNA-X Bhd (previously Sino Hua-An International Bhd) through its wholly owned subsidiary Touchpoint International Sdn Bhd has secured a five-year exclusive technology partnership agreement to develop the latter’s proprietary revenue management system (RMS) for the Kenya Wildlife Service (KWS) and all of its 65 national parks and reserves.
Known as the Safaripay Platform, the RMS for Touchpoint International’s Kenyan partner Pesapass Ltd will be implemented across all of KWS-managed parks which receive over two million visitors per year.
The combined ticketing revenue for all the parks are valued up to RM500 mil annually in a regular pre-COVID period.
Touchpoint International which shall own all intellectual property rights in respect of the Safaripay and in consideration of the licence for use by Pesapass will be entitled to a percentage of the total net revenue transacted over the platform.
“TPI has been working together with Pesapass to secure the RMS project from KWS for the past two years,” commented Techna-X’s executive director Datuk Jared Lim. “This is touted as the largest RMS and one of the largest IT system development in the history of Kenya.”
The agreement will be a great project showcase of TPI’s capabilities to implement a large scale nationwide RMS development, hence augurs well for the Techna-X group as it comes with an option of renewal for a further five years, according to Lim.
“This project is expected to be deployed in 4Q 2021 and holds a wide potential upside for Touchpoint International to implement other capabilities on Safaripay,” envisages Lim.
“Touchpoint International will potentially be able to introduce additional technology elements into Safaripay such as data analytics and IoT (internet of things) capabilities to further enhance the usefulness and efficiency in its system.”
Safaripay is the second project secured by Touchpoint International in the African continent. The first is a five-year partnership with South Africa’s Snappistore to provide a superapp platform which supports e-commerce businesses across the continent.
Both projects are implemented through a revenue sharing system which will generate new and sustainable income stream for the Techna-X while the group continues to capitalise on market growth and rapid economy recovery in the continent during the post COVID-19 period.
At the close of today’s trading, Techna-X was up 1 sen or 13.33% to 8.5 sen with 10.55 million shares traded, thus valuing the company at RM173 mil. – Oct 11, 2021
