by RAHIMI YUNUS
PERTAMA Digital Bhd, via its subsidiary Television Airtime Services Sdn Bhd (TAS), is increasing its stake in government technology (govtech) software company Dapat Vista (M) Sdn Bhd.
TAS is exercising its contractual option to acquire a further 24% equity in Dapat, from the other shareholder HeiTech Padu Bhd.
Under the contract signed in 2019, TAS has the right to acquire up to 60% ordinary shares in Dapat until December 2023.
“This contractual right is being executed a full 10 quarters before the deadline. Before 2020, TAS was a 20% shareholder in Dapat, while HeiTech held the remaining 80%.
“Completion of the acquisition will see TAS increasing its ordinary shareholding to 80% while HeiTech becomes a 20% shareholder,” Pertama Digital said in the statement.
Pertama Digital executive director Sabri Ab Rahman said although TAS is allowed another two years to complete the acquisition, the company is executing its rights now to strategically take advantage of the global flight to digitalisation as the region leads the trend.
“Pertama Digital will capitalise on the business uptrends consistently delivered by Dapat throughout the pandemic and make good on its investment in TAS.
“Of course, bottom lines well for Dapat’s larger contribution to the bottom line of Pertama Digital,” he said in a statement today.
Pertama Digital backs govtech and financial technology initiatives that build impactful, inclusive solutions for Malaysians.
Listed on the Main Market of Bursa Malaysia Securities Bhd, Pertama Digital acquired a 51% stake in TAS in May 2020.
TAS is the holding company of Dapat, which owns and operates the government SMS portal mySMS, mobile payments app MyPay and eJamin, the world’s first smartphone court bail payment solution, now live in courts all over Malaysia.
Pertama Digital’s consortium also applied for a digital banking licence from Bank Negara Malaysia recently.
At 3 pm today, Pertama Digital shares rose 0.81% to 62 sen, valuing the company RM268.7 million.