PETALING JAYA: Dataprep Holdings Bhd
(DHB) is disposing of its 60% stake in Dataprep Payments Solutions Sdn Bhd (DPS) to Ng Chee Chau for RM3mil cash.
DPS is a provider of information technology services and secured payment solutions.
“DPS is an approved issuer of electronic money under Section 11 of the Financial Services Act 2013, operating the electronic money product known as DPurse which received approval from Bank Negara Malaysia,” said DHB in a Bursa Malaysia filing.
DHB said the proposed disposal forms part of the group’s continuing business and asset rationalisation initiatives to optimise its allocation of capital and management resources.
“Since obtaining approval for the DPurse electronic-money product in 2019, DPS has undertaken various initiatives to develop its electronic-money platform, increase its user base and expand its product ecosystem.
“Notwithstanding these efforts, the business has yet to achieve the anticipated level of commercial traction and scale and has required continuing financial, technical and management support from the group.”
