GHL shares down 3.09% despite acquisition of Vietnam mobile payment facilitator

PETALING JAYA: GHL Systems Bhd’s share price fell 3.09% despite announcing its entry into Vietnam via acquisition of a 31.16% stake in MPOS Global Limited for US$3.32 million (RM14.04 million).
At 11.09am, its share price fell 3.09% or 5 sen to RM1.57 with a total of 284,200 shares traded. The stock closed 4.52% higher at RM1.62 yesterday with 1.13 million shares traded.
MPOS Global and Vietnam MPOS Technology provide the first and only non-bank mobile payment acceptance terminals and financial solutions for individuals and businesses through a 0%-interest installment scheme linked with 12 major banks across Vietnam.
GHL said the move is part of its ongoing transaction payment acquisition strategy in the region.
Its executive vice-chairman Simon Loh said it believes Vietnam is ripe for an explosion in e-payment adoption and the strengths of both companies will see it becoming a major player in the e-payment landscape in Vietnam and Asean.