Thursday 28 Mar 2024
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KUALA LUMPUR (May 4): Shares in Ancom Bhd and ManagePay Systems Bhd (MPay) advanced this morning after the companies announced a collaboration to offer electronic payment (e-payment) services to promote the local tourism sector to Chinese tourists.

In a filing yesterday, Ancom said it had inked a term sheet with MPay, which outlined the parties' intention to set up a joint venture (JV) company for this purpose, leveraging on MPay's capabilities to operate e-payment systems and merchant aggregator business.

At 9.35am, MPay rose 4.26% or 1 sen to 24.5 sen  with 5.88 million shares done, while Ancom gained 1.25% or 1 sen to 81 sen with 1.14 million shares traded.

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