KUALA LUMPUR (Dec 28): PUC Founder (MSC) Bhd said its wholly-owned subsidiary EPP Solution Sdn Bhd has entered into a cross-border internet payment service collaboration agreement with Lakala Payment Co Ltd.

Lakala is one of China's leading internet financial services group, and is authorised to obtain the payment licence for all categories issued by the central bank of the country.

"This collaboration is a strategic move for both EPP and Lakala. The main beneficiaries will be merchants in Malaysia and China UnionPay (CUP) cardholders as they would be provided with more online payment options with the addition of CUP.

"As we broaden the acceptance of the system with Malaysia's merchants, CUP cardholders can conveniently make their online transaction payments," said EPP chief executive officer Kenneth Hiew.

Lakala has strategic partnerships with UnionPay and various banks in China, including China Construction Bank, Bank of China and Agricultural Bank of China.

The agreement will be effective for a period of one year upon signing, and will be renewed automatically every year unless both parties agree to terminate the agreement.

"We are expecting the revenue contribution from this business starting from the second quarter of next year. 2016 will be an exciting year for us as we will be seeing revenue contributions from our new business namely our 1MW solar power plant and also our existing payment solutions business.

"We will strive to work harder and achieve better results to enhance our shareholders' value," said PUC Founder group managing director Cheong Chia Chieh.

PUC Founder shares closed unchanged at 11.5 sen with a market capitalisation of RM122.6 million.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)