Orion IXL shares surge after it inks deal for online loan application system

KUALA LUMPUR: Orion IXL Bhd shares jumped 10% in early trade Friday after it inked a 15-year deal to develop online loan application system.

Orion rose 10%, or one sen to 11 sne with 10.3 million shares done. Orion-WA surged 12.5%, or 0.5 sen 4.5 sen with 4.22 million shares traded.

Orion has inked a 15-year agreement to develop and operate an online end-to-end loan application system.

Orion's wholly-owned unit, Ganda Integrasi Sdn Bhd, signed the technical services agreement with the group's 10%-owned affiliate, Sukaniaga Sdn Bhd, for the job.

This followed a service level agreement (SLA) between Sukaniaga and MyAngkasa Holdings Sdn Bhd for the development of the fintech system, dubbed Angkasa Az-Zahara.

Under the Ganda-Sukaniaga agreement, Ganda will "provide all services to be rendered by Sukaniaga to MyAngkasa under the MyAngkasa SLA on a back to back basis".

Stock on the Move , Orion