PUC keen to become digital banking player

  • Business
  • Wednesday, 10 Jul 2019

?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday

KUALA LUMPUR: PUC Bhd is keen to explore opportunities to participate in the digital or virtual banking business, said group managing director and chief executive officer Cheong Chia Chou.

“We are eager and look forward to Bank Negara’s announcement on the digital banking framework.

“We have to look at the details first and evaluate the possibilities, but certainly it’s in line with our group’s direction,” he told Bernama on the sidelines of the Malaysian Institute of Accountants (MIA) AccTech Conference 2019 here yesterday.

Last month, the central bank said the framework was more than 50% ready and on track to be launched by year end, with more than 10 parties having expressed interest to set up digital banks in the country.

Cheong said the digital service company was also open to discussing with more parties to offer its micro-financing service, to be launched this year

“We have announced (the signing of a memorandum of understanding) to partner with the Malaysian Workers Foundation to offer micro financing to its members and are still working with them to finalise the details.

“We are happy to talk with other parties for different target segments,” he added. — Bernama

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