ACE Market-listed TFP Solutions Bhd will roll out its digital gold investment platform OneGold by 3Q 2021 to enable easy investment into digital gold by retail investors from as low as RM25.
OneGold is the result of a joint venture (JV) collaboration between TFP’s subsidiary One Gold Sdn Bhd and ACE Capital Growth Sdn Bhd, a subsidiary of ACE Innovate Asia Bhd, a LEAP Market-listed reputable gold bullion importer in Malaysia.
A Shariah-compliant “multi-tenant” digital gold trading platform, OneGold is able to support multiple apps from different organisations and communities.
“The roll-out of our very own digital gold investment platform, OneGold, will be a game-changer for the OneCALL & OneCENT digital community as it provides an opportunity for our members to invest into a natural hedge against inflation during times of uncertainty,” commented TFP’s group executive director Puteri Munawarah Syammiyah Munir.
“With OneGold, our members could invest in gold without concerns over security and storage, and the platform allows members to redeem the digital gold into a minted gold. Our members can invest in digital gold from as little as 0.1 gram (RM25).”
TFP will further integrate OneGold into “OneCALL Settle All app” which is the company’s own SuperApp, a mobile financial technology (fintech) solution for the underserved and unbanked population.
On top of the ability to tap into gold investment, OneCALL has features that focus on digital service solutions for individuals, enterprise resource planning, human resource management and campus management systems.
With more than 30,000 members on TFP’s OneCALL & OneCENT digital community, the potential for the group to scale its operation is huge.
“The beauty of our digital technology, besides the members can invest themselves, is that our platform motivates them to promote our services among their friends, family members and business contacts,” projected Puteri Munawarah. “OneGold will potentially bring in an additional turnover of RM60 mil by end-2021.”
Meanwhile, OneCALL was launched in collaboration between TFP’s subsidiary MBP Solutions Sdn Bhd and mobile virtual network operator (MVNO) Tune Talk Sdn Bhd.
Riding on Tune Talk’s data and voice services, OneCALL offers value-added features such as embedded eWallet (powered by MobilityOne), e-wages, e-remittances (powered by OTRemit), e-commerce platform, student loan payment, YADIM donation as well as e-ticketing for those in Labuan and Kota Kinabalu, Sabah.
These features are important, especially for those who do not have access to financial services. TFP estimated that around two million Malaysians do not have a bank account, and there is an outflow of some RM20 bil of remittances via non-banking channels in 2020.
The e-wages and e-remittances services will play a vital role, especially for companies that employ foreign workers.
“The integration of OneGold into the existing features in OneCALL & OneCENT will cement our leading position as the innovative mobile fintech provider in the market,” added Puteri Munawarah.
At the close of today’s mid-day session, TFP was up 1 sen or 6.45% to 16.5 sen with 3.68 million shares traded, thus valuing the company at RM88 mil. – July 21, 2021