<div class=newsTextDataWrapInner><p>This article first appeared in<em> The Edge Financial Daily</em>, on December 11, 2015.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><strong>Managepay Systems Bhd (-ve)</strong></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>ACE market-listed electronic payment solution provider MPAY (Fundamental: 0.6/3, Valuation: 0.3/3) triggered our momentum algorithm yesterday, closing 3.6% higher at 29 sen on heavy volume.</p></div>

<div class=newsTextDataWrapInner><p>Last Monday, the company announced that it has accepted a letter of intent from Oversea-Chinese Banking Corporation Limited (OCBC) to provide payment terminal services to the bank’s merchants.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>For 3Q2015, revenue decreased 44.7% y-y to RM1.0 million. The company slipped into the red with a net loss of RM9.4 million, mainly due to impairment charges totalling RM7.2 million on older technology inventories and fixed asset.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>During the quarter, MPAY raised RM30 million via a private placement and received additional RM35.5 million from a warrant conversion exercise. 65.5% of the total proceeds raised will be used for capital expenditure.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>To recap, MPAY obtained the approval to issue electronic money (eMoney) via online wallet and prepaid card in February. The company expects to roll out relevant eMoney products by 1Q2016.</p></div>

<div class=newsTextDataWrapInner><p><img alt="managepay_swm_fd_111215" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/managepay_swm_fd_111215.png" /></p></div>


This article first appeared in The Edge Financial Daily, on December 11, 2015.

 

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Emerging Asian equities and currencies were sharply lower on Friday as reports Israel attacked Iran in an escalation of tensions in the Middle East led investors to flee to safe-haven assets, including the US dollar.

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Taiwan said on Friday China's decision to open new air routes that run perilously close to two Taiwanese-controlled islands was a flight safety risk taken without consultation, adding it will demand any aircraft using them be asked to turn around.

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Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

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Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

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Five Japanese nationals survived a suicide bomb attack on their vehicle on Friday, as police in Pakistan's city of Karachi shot down a gunman accompanying the bomber, a police spokesperson said, but two passers-by were injured.

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<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


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<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


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<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


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<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


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<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


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<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


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<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


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<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


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<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
