<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 22): ManagePay Systems Bhd (MPay) will launch its money lending business in April this year, after receiving approval from the moneylenders and pawnbrokers division of the Ministry of Urban Wellbeing, Housing And Local Government.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, MPay said its wholly-owned subsidiary ManagePay Services Sdn Bhd had on Jan 19 received a letter of approval (LoA) from the ministry on the application for money lending licence pursuant to Moneylenders Act 1951 [Act 400].</p></div>

<div class=newsTextDataWrapInner><p>"With the receipt of LoA and after six months preparation for fulfilling the requirements as specified in the conditional approval letter issued by the ministry, MPay Group is now able to start the money lending business targeting both individuals and businesses, over and above its Quickash Peer-to-Peer financing platform," it added.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>MPay said these new added lending capabilities&nbsp;will contribute to both revenue and bottom line of the group in 2018.</p></div>

<div class=newsTextDataWrapInner><p>At 2.17pm, ManagePay shares were up 0.5 sen or 2.38% at 21.5 sen, with 1.3 million shares done, bringing a market capitalisation of RM152.75 million.</p></div>

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KUALA LUMPUR (Jan 22): ManagePay Systems Bhd (MPay) will launch its money lending business in April this year, after receiving approval from the moneylenders and pawnbrokers division of the Ministry of Urban Wellbeing, Housing And Local Government.

In a filing with Bursa Malaysia today,...

ManagePay to launch its money lending business in April

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<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.</p>


<p>Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.</p>


<p>Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.</p>


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<p>The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.</p>


<p>PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.</p>


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<p>Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...