PETALING JAYA: SMRT Holdings Bhd
is planning to acquire a 37.5% stake in Singapore-based Novus Technologies Pte Ltd (NTPL) for S$7.09mil, or RM22.48mil, which marks another step in the group’s shift toward a pure-play information technology business.
The company said it signed a conditional sale and purchase agreement yesterday with Asia Fintech Ventures Group Pte Ltd, the sole shareholder of NTPL, for 1.69 million shares in the digital infrastructure and payments technology firm.
NTPL, incorporated in 2013, specialises in self-service and retail transaction infrastructure, including deployment of automated teller machines, point-of-sale systems and agent banking solutions across South-East Asia.
The group operates subsidiaries in Sri Lanka, the Philippines and Cambodia, and recorded revenue of S$12.81mil and profit after tax of S$496,000 for the financial year ended March 31, 2025.
SMRT said the deal gives the enlarged group immediate access to NTPL’s technology stack and customer footprint.
“The proposed acquisition forms part of SMRT Group’s growth strategy to strengthen its information technology and digital solutions business,” the board noted in a filing with Bursa Malaysia, adding that the deal would help the group deliver “integrated digital and Internet of Things solutions to financial institutions and enterprise customers across South-East Asia.”
