OpenSys to bank on cash recycling machines, bill payment kiosks to spur earnings growth


OpenSys (M) Bhd CEO Eric Lim

KUALA LUMPUR: Financial services, telecommunication and utility solutions provider Opensys (M) Bhd is focusing on its cash recycling machines (CRM), bill-payment kiosks, as well as software maintenance and services to boost its earnings going forward.

Chief executive officer Eric Lim said the CRM segment has rebounded strongly in the past year to almost pre-pandemic levels.

"So we expect this year and next we will be back to pre-pandemic levels.

"There’s still room for CRM to expand if you look at the (number) of cash machines out in the market now,” he said at a press conference today after the company’s listing transfer to the Main Market from the ACE Market.

Lim said there are around 16,000 cash machines, including automated teller machines (ATM), in the market right now.

Out of that, around 5,500 to 6,000 are CRM, he said.

"So, potentially 10,000 machines we can replace to CRM and add to the old machines that we had deployed seven to eight years ago, it is a time for the banks to replace them.

"The lifespan of these machines is around seven to eight years. So we actually have our own replacements market,” he said.

The CRM segment contributes up to 30 per cent of its total revenue while the remaining 70 per cent is from the maintenance and services segment, as well as other segments, he added.

The maintenance and software services business has always been consistently growing as OpenSys has more machines every year coming on board, he said.

On the bill payment kiosk, OpenSys is coming out with new initiatives to try to monetise the infrastructure it owns and the group has discussed with its customers to start a shared network among the billers.

"Our biller customers can walk to any kiosks to pay all the bills or to reload e-wallet or prepaid. We have 550 kiosks in 300 over locations,” he said.

On its transfer to the Main Market of the Bursa Malaysia, Lim said the transfer will give the group greater access to the broader capital market to fund future growth plans and attract more institutional investors, such as the Employees' Provident Fund (EPF) and Permodalan Nasional Bhd (PNB). - Bernama

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OpenSys , CRM , Bank , Eric Lim , Cash Machines

   

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