KUALA LUMPUR: Payment service provider, GHL Systems Bhd, expects Transaction Payment Acquisition (TPA) to drive earnings growth this year.
Group chief executive officer Kanagaraj Lorenz said topline and bottom-line earnings this year would be supported by the aggressive deployment of Transaction Payment Acquisition (TPA) domestically and in the Philippines.
The company’s latest annual report said TPA grew 32 per cent or RM157.3 million of total revenue in 2015 versus RM119.6 million in 2014 and the segment contributed 74.4 per cent to group total revenue.
“The strength of the e-pay would trigger Malaysia to become the largest earnings contributor,” he told reporters after the company’s annual general meeting yesterday.
However, in the case of Philippines, he expected the annual contribution from that country to improve dramatically from 12 per cent chalked up in 2015 as it is the fastest growing business within the group.
Under the TPA business division, the e-pay segment recorded a transaction value processed of RM3.31 million in 2015, up 20.1 per cent, from 2014 while for bank card payment services, the transaction per valued processed jumped 39.9 per cent in 2015 to RM1.89 million.
Lorenz said the company aimed to grow the bank card payment services’ transaction per valued processed by 40 per cent on an annual basis.
GHL has business operations in Malaysia, Philippines, Thailand and Australia as well as, software development centres in Wuhan, China, Philippines and Malaysia.
Malaysia and the Philippines contributed RM178.2 million and RM25.9 million, respectively, to revenue in 2015.
Asked whether GHL had plans to enter new markets, Lorenz said the company was eyeing Singapore and Hong Kong to establish its presence in the global market.
“We would probably set up a subsidiary for e-GHL, our online payment service in both markets, by year-end because setting up a physical company can be expensive,” he added. — Bernama