THETA Edge Bhd is upbeat about exploring new growth areas in digital infrastructure with the appointment of Wepay System Sdn Bhd as the group’s technology partner to develop a fully integrated and multi-functional digital platform for Malaysia.
The collaboration will enable a joint effort between the parties to promote industry innovation by utilising each company’s resources to drive the digitalisation of various industry segments in Malaysia, according to Theta’s group CEO Nuraslina Zainal Abidin.
The readiness of the technology platform will also allow Theta to collaborate and connect with many applications to enable users to have a one-stop shop for all their needs.
“Theta’s immediate focus is to transform mobility into a pleasant experience with a mobility-as-a-service (MaaS) digital platform that essentially provides real-time information to enable travellers to monitor, plan, book and pay for multiple mobility services,” Nuraslina pointed out.
“This will include connection all modes of public transportation and other transit operators to an open payment system, thus allowing seamless travelling as well as to allow travellers to access and connect via a single platform to all available transport options.”
Nuraslina also revealed that Theta had secured WePay’s commitment to invest in the project through the latter’s lead global coordinator and lead joint bookrunner Haitong International Securities Company Ltd to raise RM700 mil or equivalent through foreign direct investment (FDI) to finance the project.
Wepay System chairman Datuk Md Zubir Ansori Yahaya said the collaboration involving Haitong International Securities will augur well for Malaysia in driving digital transformation and contributing to the local talent development in new technology innovation.
Being among the oldest large-sized securities company in Hong Kong with total assets of 754 bil yuan (RM475.6 bil), Haitong boasts a global financial servicing network across 15 countries on five continents that includes New York, London, Hong Kong, Shanghai, Singapore and Tokyo.
“We are honored to be given this opportunity to work hand-in-hand with Theta which is a member of Lembaga Tabung Haji. With this, we hope to bring advanced technologies for Theta to build, innovate and develop meaningful and real-world solutions that will drive the nation’s agenda,” added Md Zubir.
At the close of today’s market trading, Theta was up 3 sen or 4.11% to 76 sen with 7.26 million shares traded, thus valuing the company at RM90 mil. – July 31, 2023
