PETALING JAYA: Managepay Systems Bhd
(MPay), has accepted a letter of offer worth RM38mil from Mastercard Asia/Pacific Pte Ltd to develop and operate the Managepay-issued Mastercard payment cards.
In a filing with Bursa Malaysia, MPay said the letter of offer was accepted by its wholly-owned subsidiary, ManagePay Services Sdn Bhd (MPSB).
“A sign-on bonus shall be provided to MPSB upon full execution of the agreement. A launch support shall be provided to MPSB upon completion of the application prototype and upon the launch of a Mastercard card. Mastercard will also provide support for card issuance.”
MPay said the agreement will not have any effect on the issued share capital and shareholdings of the substantial shareholders of the company.
“It is expected to contribute positively towards the earnings and net assets per share of the company for the financial year ending June 30, 2026 and onwards.”
