PETALING JAYA: Green Packet Bhd has acquired a 51% stake in payment processing technology firm T-Melmax Sdn Bhd, a company owned by financial management software solutions provider, Censof Holdings Bhd.
In a statement, Green Packet said the acquisition marked a new joint venture between Censof and Green Packet towards transforming T-Melmax into a preferred digitally driven, real-time multi-layered reporting payment gateway service provider.
“The strategic move fills the gap in the market for small and medium enterprises (SMEs), state and federal government units and enterprises who are looking for a one-stop provider that is able to combine the power of real-time cashless payment and accounting into a truly integrated and seamless solution with end-to-end financial reporting analytics.”
Established in 2002, T-Melmax is an information and communications technology company focused on digitally automating and simplifying the handling and processing of bulk payment, bulk collection and other types of payments.
“As part of the Censof group of companies, it has been successful in penetrating into a large customer base of 69 government and government-related bodies, 11 academic institutions, 407,000 SMEs (in Malaysia, Singapore and Hong Kong), and 11,000 freight forwarders, importers and exporters with their one-stop payment solution and accounting systems.”
In the same statement, Green Packet group managing director CC Puan said treasury heads, chief financial officers, financial leaders and accounting teams everywhere need to strategically implement different digital tools as soon as possible to reap the rewards of greater productivity, efficiency and value-add for their organisations.
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