Thursday 28 Mar 2024
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KUALA LUMPUR (June 29): GHL Systems Bhd expects its earnings in the current financial year ending Dec 31, 2016 (FY16) to be stronger than the previous year on the back of stronger transaction payment acquisition (TPA) and web payment service growth.

Speaking to reporters after the group's annual general meeting today, GHL group chief executive officer Kanagaraj Lorenz expects the transaction value and gross margin of the TPA segment to continue to show double-digit growth this year.

"We registered a 20.1% and 23.3% growth in transaction value and gross margin for e-pay segment in 2015," he said, adding that card payment growth was between 6% and 39.9%.

"We are eyeing a 30% to 40% growth in the TPA (segment). If you give us another two to three years, GHL is ready to transform into (something) different.

"This is our promise to shareholders and we have to deliver," he said.

He also shared that the group is aiming to double the market shares of its eGHL from 20% currently in two years.

eGHL is an Internet payment arm of GHL, offering secure Internet payment solution to online businesses in Southeast Asia.

"I see very promising opportunities and we are able to take a significant market share.

"We are relatively a newcomer but we are really going to try to (grab) a rightful share in the market," he added.

Over the longer term, GHL also plans to venture into the Singapore and Hong Kong market by year end.

"We are talking with several parties and we will set up a subsidiary there to conduct the business," he said.

Aside from the two major financial hubs, GHL also wants to expand its presence into the Indo-China region but did not elaborate.

At 12.30pm, GHL rose 0.5 sen or 0.61% to 82.5 sen for a market capitalisation of RM538.99 million.

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