OpenSys Gets Shareholders Approval for Constitution Amendments in Listing Transfer

The solutions provider for financial services, telecommunications, and utilities has obtained shareholders’ approval for the amendments to the constitution of the company to facilitate the implementation of the proposed transfer listing of and quotation for the entire issued share capital of OpenSys from ACE Market to Main Market of Bursa Securities at the company’s extraordinary general meeting EGM) today.

The transfer listing to the Main Market will enhance the Group’s reputation, recognition and acceptance among investors.

It is expected the completion of the transfer listing by October 2022, barring any unforeseen circumstances.

“This transfer listing to Main Market marks the beginning of our journey to strengthen the Group’s business model and further expand its scope. We will continue to enhance our earnings outlook and OpenSys’ position as a pure-play total solutions provider for the financial services, telecommunication and utility industries,” Mr. Eric Lim, Chief Executive Officer of OpenSys said.

“The rebounding economy bodes well for the prospects of our existing core businesses as well as the new tech platform-based solutions. Our core businesses continue to be our growth drivers, and we are working to ensure that our new tech businesses contribute to the company’s long-term profitability in the future. This would strengthen OpenSys position in the industry, and, in turn, deliver sustainable growth,” he remarked.

“The CRM sales remain robust, as we have seen banks’ procurement activities resumed for three consecutive quarters since the fourth quarter of 2021. We are on track to deliver approximately 400 units of CRMs and related peripherals by the end of 2022. At the same time, we are in talks to equip more banks with CRMs as they digitalize their operations for greater efficiency,” he added.

“In addition, we are making good headway in our first major SmartCIT project by completing the rollout to more than 100 Tenaga Nasional Berhad’s outlets nationwide. This project represents a breakthrough for our SmartCIT segment, and we are confident it will serve as an excellent reference site for banks and other payment kiosk customers,” he elaborated

OpenSys is the major provider in CRM rollout with more than 80% market share. CRMs are dual-function machines that are used in banks and financial institutions to replace standalone cash deposit and dispensing machines. It allows deposited cash to be recycled and re-distributed to customers that withdraw cash, increasing operational efficiency and uptime as well as saving banks up to 30% on operating costs.

The SmartCIT, on the other hand, is a secure logistics solution forl Cash-In-Transit (CIT) business. The platform combines conventional CIT services with a cutting-edge IoT-based secure logistics solution that provides a real-time dashboard view of critical management information on collection schedules, balancing, and reconciliation.

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