Sabuy Technology Public Company Limited (SET: SABUY) announced on Tuesday, that the board of directors meeting No. 21/2022 held on December 9, 2022 passed the resolution to invest in GHL System Berhad (GHL), which is register at Malaysia, by purchasing the ordinary shares of GHL in the amount of no more than 57,074,992 shares or equivalent to 5.00 percent of GHL.
The business type is an online payment gateway service provider in 5 countries in ASEAN region including Thailand, Singapore, Malaysia, Indonesia and the Philippines. GHL’s payment system links the payment services in 5 countries together under the same umbrella and is certified by Central Bank of Malaysia and Payment Card Industry Data Security Standard (PCI DSS) Level 1, the payment to the shareholders of GHL at the amount of not exceeding 57,074,992.10 MYR or equivalent to 462,667,008.46 baht.
The benefits to the company from the transaction to expand the company business ecosystem, especially those related to Payment Gateway, expansive network of touch points will allow the company to better reach out to broader customer groups and can provide benefits to card business of the company in the future, expected to yield positive result to various business of the company including expansion of E-commerce Platform of the company’s Eco – system, to access the channel of each other, creating regional payment gateway, result in enhanced opportunity to generate returns, growth rates, and cash flows in the long-term.