Quick take: Cuscapi rises 6% after signing MoU

  • Stock on the Move
  • Thursday, 16 Jan 2020

KUALA LUMPUR: Shares in Cuscapi Bhd rose over 6% in early trade Thursday after the company announced that it will supply 20,000 point-of-sale (POS) units in Indonesia.

The point-of-sale systems provider advanced 6.06%, or one se to 17.5 sen. It is the fifth most actively traded counter on Bursa Malaysia with 8.85 million shares traded.

Cuscapi is collaborating with Indonesian-based PT Cartenz Inti Utama (PT CIU) for the supply and implementation of 20,000 POS units in Indonesia.

Cuscapi said it has entered into a Memorandum of Understanding (MoU) today with PT CIU to be strategic partners for the roll-out of F&B sector POS projects in Indonesia.

"Additionally, the strategic partnership with PT CIU will extend Cuscapi’s footprint and increase our POS hardware installed user base," it said.

Cuscapi said the relevant details may be further outlined in the definitive agreements to be entered into with each party's local subsidiary namely PT Cuscapi Indonesia and PT Zeepos Teknotama Mandiri.

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