05/11/2025

BIZ & FINANCE WEDNESDAY | NOV 5, 2025

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Merchantrade ventures into ATM operations

motorists with insufficient eWallet balance to pass through tolls smoothly and reload within 24 hours. Since its introduction, the feature has benefited more than 14 million motorists and facilitated over RM42 million in toll payments across participating highways. Beyond highways, Touch ’n Go’s open payment ecosystem now spans parking, public transport and corporate fleet management. Its Parking Ecosystem integrates cashless and ticketless licence plate recognition parking, while the Digital Transit Pass, developed in collaboration with Prasarana Malaysia Bhd, allows unlimited rides across Rapid KL’s rail and bus networks. The company’s Fleet Solutions platform also enables real-time monitoring of toll transactions for businesses, providing greater visibility and operational efficiency. As a wholly owned subsidiary of CIMB Group, Touch ’n Go said it remains committed to investing in advanced technologies that enhance Malaysia’s transition toward a more open, connected and future-ready mobility environment. – Bernama Polymer Link set to raise RM24.3m from ACE Market IPO PETALING JAYA Polymer Link Holdings Bhd, a regional and international plastic manufacturer specialising in plastic powder and colour masterbatch for rotational moulding applications, yesterday launched the prospectus for the group’s listing on the ACE Market of Bursa Malaysia Securities. Established in 2011 and headquartered in Klang, Selangor, the group operates across Malaysia, the Philippines, India, the United States and Australia, supplying an international customer base spanning over 10 countries. Polymer Link will raise about RM24.3 million via the issuance of 97,145,700 new shares at an IPO price of 25 sen per share (public issue). Of the IPO proceeds, RM5 million will be for the expansion of its Australian operations; RM6.2 million for working capital requirements; RM3.6 million for capital expenditure; RM2 million for repayment of bank borrowings; and RM7.4 million for estimated listing expenses. Executive vice-chairman/president and group CEO Koh Song Heng said, “This IPO is a defining moment for Polymer Link. It signifies our transition from a regional player to a global player in the rotational moulding supply chain. The funds raised will be channelled towards expanding our footprint, enhancing our innovation capabilities, and strengthening our ability to serve customers across different geographical markets. We are excited to move forward into this next phase of growth.” The group, through Polymer Link Malaysia, started manufacturing operations in 2014. The group made its debut on the LEAP Market of Bursa Securities in April 2018 before voluntarily delisting in December 2020 as part of a corporate streamlining exercise. Over the years, it steadily expanded its market presence across Southeast Asia, India, the United States and Australia, building a reputation for quality, innovation and responsiveness in a specialised segment of the polymer industry. Applications for the public issue shares are open until 5pm on Nov 11. Polymer Link is scheduled to be listed on the ACE Market on Nov 25. Upon listing, Polymer Link will have a market capitalisation of RM140 million based on the IPO price of 25 sen per share and its enlarged issued share capital of 560 million shares. Hong Leong Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO while DWA Advisory Sdn Bhd is the financial adviser.

PETALING JAYA: Merchantrade Asia Sdn Bhd, a provider of money services and digital financial solutions, has entered the automated teller machine (ATM) business with the ongoing enablement of over 1,000 cash access points across Malaysia following recent approval from regulators to operate as an ATM acquirer. The expansion is underpinned by its long standing partnership with Visa and security services provider Safeguards. The venture is a direct move to expand cash access where conventional financial services are lacking, especially in rural and underserved markets. The new infrastructure is projected to at once improve cash access for millions, including Malaysia’s population of migrant workers and various local communities. Merchantrade’s ATM coverage follows a two pronged strategy. The first is the Visa Sponsor BIN, where Merchantrade provides crucial sponsorship for Safeguards’ 1,000-plus ATMs nationwide, enabling them to accept Visa enabled cards and immediately allowing Visa customers, travellers, credit, debit and prepaid card holders to perform cash withdrawals. The second is the Brown Label ATM Model. Merchantrade is the first operator in the country to adopt this approach which leverages Safeguards’ existing infrastructure, including Malaysian Electronic Payment System (MEPS) functionality, enhanced with the Merchantrade brand and Visa platform. Currently Merchantrade has deployed more than 12 machines under this brown label at its own branches and targets to roll out over 200 machines, which is expected to significantly increase the company’s brand presence throughout the country. Merchantrade said its own branded ATMs allow for both withdrawals and crucial cash deposits using MEPS and accepts all Visa enabled cards, including its flagship Merchantrade Money prepaid Visa card. A feature which is often unavailable at non-bank o Ongoing enablement of more than 1,000 new cash access points in partnership with Visa and Safeguards

Merchantrade’s ATM coverage follows a two pronged strategy.

ATMs, providing convenience for traders and small businesses who frequently need to manage daily cash earnings for which the company targets for the machines to be placed at any premises such as grocery shops, factory areas and communal spaces. Merchantrade Asia founder and managing director Ramasamy K.Veeran said, “The extensive reach and new facilities this network brings are critical for our customers. By embracing this two-pronged strategy, we are not just installing machines; we are expanding the financial landscape. This makes it easier for individuals, like foreign workers and small businesses, to access funds, deposit cash securely, and manage their finances where they live, work and do business. This significant investment solidifies our com

mitment to financial services in Malaysia.” Visa Malaysia country manager Previn Pillay said as Merchantrade is already one of their Visa acquirers, entering the ATM sponsor and Brown Label ATM Model is a natural progression. “Merchantrade is Visa’s largest prepaid issuer in Malaysia, and this move will significantly increase Visa touchpoints in Malaysia.” Safeguards Corporation Group CEO Darmendran Kunaretnam commented, “Entering collaboration with Merchantrade came in as the most important juncture, as the Merchantrade brand is most widely accepted within the underserved community, es pecially migrant workers. Merchantrade’s branded ATM machines and Visa Sponsor will be able to expand our presence as a non-bank ATM operator.”

Touch ‘n Go unveils next-gen open payment mobility ecosystem KUALA LUMPUR: Touch ’n Go Sdn Bhd yesterday unveiled its next-generation open payment mobility ecosystem, highlighting a range of homegrown innovations in Radio Frequency Identification (RFID), Smart Lane Fast Flow (SLFF) and Multi-Lane Fast Flow (MLFF) systems aimed at transforming Malaysia’s tolling and mobility landscape. Our focus is clear – to build products for Malaysians, by Malaysians, and to create a smarter, more connected future for everyone,” he said in a statement yesterday. Meanwhile, at the Malaysian Road developed entirely by Malaysian engineers. The system combines RFID as the core detection technology with Automatic Number Plate Recognition and 3D LiDAR, enhanced by artificial intelligence (AI) for real-time vehicle classification and enforcement accuracy.

Maintenance Convention 2025 and MY-Asean Roads & Traffic Tech Expo 2025, Touch ’n Go Future Mobility showcased its innovations at the Malaysia International Trade and Exhibition Centre (MITEC) yesterday. During the showcase, Touch ’n Go received a walkabout visit from Works Minister Datuk Seri Alexander Nanta Linggi, who was briefed on the company’s latest open payment and tolling innovations. The company’s presentation underscored Malaysia’s readiness to adopt smart, barrier-free tolling technologies that are accurate, scalable and enforcement-ready, reflecting Touch ’n Go’s growing capacity to support seamless and connected mobility solutions nationwide. Central to the showcase was Titan Flow, Touch ’n Go’s fully integrated end-to-end MLFF platform

According to Touch ’n Go, Titan Flow enables more precise vehicle identification and automated toll classification, ensuring toll fairness and operational reliability even under heavy traffic or adverse weather conditions. The AI-enhanced system also lays the groundwork for future features such as dynamic toll pricing, which can adjust rates based on traffic conditions or vehicle categories. In addition, Touch ’n Go’s SLFF and MLFF capabilities represent a significant leap towards fully open payment mobility — allowing toll transactions to be processed seamlessly without physical barriers, while ensuring accurate billing and enforcement. The company also showcased SOS Balance, or Gerak Dulu, Nanti Roger! , a feature that allows

CEO Praba Sangarajoo said the innovations showcased reflect Touch ’n Go’s commitment to advancing the nation’s mobility infrastructure through home-grown technology and local innovation. “Touch ‘n Go is Malaysia’s pioneering fintech and mobility company and will celebrate its 30th anniversary in 2026. Over the decades, we have continued to evolve and deliver new solutions that make travel easier for Malaysians, by Malaysians, powered by homegrown technology and local innovation. “With more than 24 million verified users who trust our platform, we have raised the standards of simplicity, security and user experience in mobility.