GHL buys Paysys for Rm80mil

The chief executive of one victim, depositor Saigonbank Berjaya Securities JSC (SBBS) - a unit of Malaysia's Berjaya Corporation Bhd - told Reuters that if the ruling was upheld, she had little hope of recouping her bank's $10 million from the perpetrator, who was sentenced to life imprisonment. "We can't afford to lose the case. This represents 70 percent of our capital. Our business may get suspended," Josephine Yei said in an interview.

KUALA LUMPUR: Regional payment service provider GHL Systems Bhd is buying local rival Paysys (M) Sdn Bhd for RM80mil in cash and new shares, as the company seeks to boost its market share in the business.

“The proposed acquisition is expected to provide an opportunity to GHL and its subsidiaries to solidify their presence as a payment solutions provider in Malaysia,’ it said in a filing with Bursa Malaysia today.