KUALA LUMPUR (March 14): Touch 'n Go Sdn Bhd has appointed Praba Sangarajoo as its new chief executive officer, effective April 1.

In a statement on Tuesday (March 14), Touch 'n Go said Praba is currently the company's deputy CEO for business and growth, and is responsible for the group’s revenue growth, new businesses, product innovation and the management of government and stakeholder relationships.

Prior to joining the group, he was the CEO of Xperanti IoT (M) Sdn Bhd. Before that, he was the chief operating officer (rail) of Sapura Secured Technologies, and he has also previously worked with Nokia Siemens Networks and Fujitsu.

“Praba’s vast experience prior to joining Touch 'n Go, coupled with his experience in running Touch 'n Go’s business and growth division, will be invaluable in taking the company to the next level of growth,” said Touch 'n Go Group chairman Datuk Zainal Abidin Putih.

“He will be responsible for continuing the growth trajectory of the group’s businesses as we navigate an increasingly competitive landscape in the fintech industry.”

“We are confident that Praba has the business acumen and leadership capabilities to steer Touch 'n Go through its next strategic phase and achieve greater successes going forward,” he added.

Touch 'n Go Group's financial technology business comprises the service offerings of Touch 'n Go — a wholly owned subsidiary of CIMB Group that provides cashless payments solutions focused on providing electronic toll collection services for highways across the country — and TNG Digital Sdn Bhd, a joint venture between Touch 'n Go and Ant Group, the parent company of Alipay, China's largest digital payments platform. TNG Digital is the owner and operator of the Touch 'n Go eWallet.