| History & Business |
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| Our Company was incorporated in Malaysia as a private limited company under the name of ManagePay Systems Sdn Bhd. |
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| Our Company has three (3) wholly-owned subsidiaries, MPSB, Sinatec and Whatdevice. We do not have any associated company. The structure of our Group is set out below: |
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| The history of our Group begun from the incorporation of MPSB. In 2000, MPSB started as technology solutions provider focusing on a variety of ICT and technology-related business activities such as Java software development, e-business consultancy services, telecommunication equipment sales and Smart Card technologies for mobile operators. |
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| Subsequent to the incorporation of MPSB, Sinatec and Whatdevice were incorporated in August 2000. Sinatec offered business application in Microsoft platform with ERP and CRM as its primary focus. Whatdevice was set up to sell mobile phones on the internet. |
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| In 2002, MPSB collaborated with University Sains Malaysia (“USM”) to carry out R&D activities in portal system, e-commerce engine and payment gateway solutions. We set up R&D center in Kompleks Eureka, USM Minden campus to work closely with the dean and professors of the School of Computer Science , USM. The joint effort between the School of Computer Science , USM with MPSB has cumulated in MPSB securing the MSC Grant Scheme awarded by MOSTI amounting to RM2.78 million. |
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| In year 2005, we saw an opportunity to develop a recurring revenue income for our Group as we have over the years assisted Financial Institutions and large Merchants to integrate value added systems such as prepaid top-up for mobile airtime into our EDCPOS Terminals. From these experiences, we developed competencies in the areas of ISO8583 financial messaging format and EMV compliances for both the EDCPOS Terminals and Host Application Servers solutions. We were invited by Financial Institutions to participate in tenders and quotations for their Credit/Debit EMV migration projects which required vendors with experience in ISO8583, EMV and EDCPOS. |
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| With more than four (4) years of experience in the technologies mentioned above, we successfully secured three (3) major contracts which paved the way for our Group to fulfill our objective of building a business model that generates recurring revenue for our Group. The brief information of the three (3) contracts is set out below: |
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| Subsidiary |
Financial Institutions |
Name of project |
| MPSB |
EON Bank |
Cash Advance Automation System and NAC for the entire EON Bank branch network. |
Southern Bank Berhad( now known as CIMB Bank Berhad ) |
In-source EMV Card Personalisation contract. |
| Whatdevice |
EON Bank |
In-source EMV Card Personalisation contract. |
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| Realising there are greater potential to develop recurring revenue in the Electronic Payment Solutions industry, we realigned our subsidiaries business to focus on electronic payment related activities. MPSB has been earmarked to lead the Payment Services and Terminal Services businesses. MPSB was awarded the MSC status in year 2001. |
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| To further unlock the potential of our Group, we have in July 2006 demerged Sinatec from being a subsidiary of MPSB to focus on Loyalty Management Service. Sinatec was awarded MSC status in November 2006 and on 1 April 2008 started our R&D activities at NeoCyber, Cyberjaya. |
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| As part of our Group's strategy to tap the Electronic Payment Solutions industry, Whatdevice was positioned to focus on the Business Processing Outsourcing. |
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| Being an end-to-end solution provider, we possess the ability to be a one-stop solution provider offering Merchant Acquisition, hardware and infrastructure and Software, Security and ICT Services |
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