PUC unit gets green light to issue e-money

PETALING JAYA: PUC Bhd’s subsidiary has received the green light from Bank Negara to issue electronic money (e-money) via its mobile application, joining a list of more than 20 other non-bank Malaysian entities to be allowed to do so. E-money is often described as e-wallets.

In a filing with Bursa Malaysia, the company, which was formerly known as PUC Founder (MSC) Bhd, announced that its wholly owned subsidiary, EPP Solution Sdn Bhd, had been granted approval to issue e-money within a year.