KUALA LUMPUR: Shares in GHL Systems Bhd rose almost 4% after the company secured money lending licences in Malaysia and Thailand.
The payment systems provider rose 3.88%, or five sen to RM1.34. In the past one year, the counter has fallen some 16.77%.
GHL said it has obtained operating licences from the respective regulators to commence money lending services in both Malaysia and Thailand.
GHL said its Malaysian unit GHL Payments Sdn Bhd had received the Money Lending Licence issued by the Ministry of Housing and Local Government under the Moneylenders Act 1951, while its Thailand unit GHL (Thailand) Co was issued the Nano Finance Licence by the Bank of Thailand.
The licences permit money lending services to both individuals as well as businesses.
GHL chief executive officer Danny Leong said the development is timely as GHL seeks to roll out complementary services, in addition to payment solutions, to its merchant base.
"The granting of these licences by two regulators is also recognition of GHL's proven track record in the payments space.
“The expanded service offering will further strengthen our position as the leading e-payment solutions provider in the region and preferred choice by merchants. We are hopeful in securing another similar licence in the Philippines which is currently in progress," he added.