GHL rises 6.7% on better market sentiment, potential contract win

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KUALA LUMPUR (Oct 17): GHL Systems Bhd, which expects to secure a major transaction payment acquisition(TPA) contract this year, saw its share price move up 7 sen or 6.73% to RM1.11 this morning.  

The rise is also in line with the better overall market sentiment this morning.

“The share price increase could be due to the market normalising [after a bad week], so GHL’s increase could be seen as being in line with the market. However, it is a company with good fundamentals,” a remisier told the theedgemarkets.com

GHL Executive Vice-Chairman Simon Loh told the media after the company’s EGM two days ago that the contract would be significant to the group, and would contribute to the payment solutions provider’s recurring income base.

The potential partner for the deal would be a entity related to the government, said Loh.

However, he did not provide further details of the contract, saying an announcement would be made soon.