Hot Stock ManagePay climbs 3.57% following partnership with Fusionex

by **Cals** Tue 27 Oct 2015, 17:20

Hot Stock

[size=28]ManagePay climbs 3.57% following partnership with Fusionex

By Meena Lakshana / theedgemarkets.com | October 27, 2015 : 11:38 AM MYT

KUALA LUMPUR (Oct 27): Shares of ManagePay Systems Bhd ([You must be registered and logged in to see this image.] Valuation: 0.00, Fundamental: 1.30) rose as high as 3.57% on the back of its partnership inked with Adv Fusionex Sdn Bhd (Fusionex) for the development of services related to big data analytics and e-payment.

At 10.26am, the stock gained as much as one sen to 29 sen before settling at 28.5 sen. A total of 4.88 million shares were traded.

Year-to-date, the stock has gained 27.27%, bucking the trend of the FBM KLCI which has declined 2.69%.

According to The Edge Research, the stock is currently trading at 3.83 times book with trailing 12-month P/E of 139.61 times.

Yesterday, ManagePay announced that it has signed a partnership agreement with Fusionex for the development of services related to big data analytics and e-payment.

ManagePay said Fusionex will provide ManagePay and its clients with data analytics, big data tools and platform support, while ManagePay will provide electronic money (e-money) and electronic wallet (e-wallet) services to clients of Fusionex.

The e-money and e-wallet services are slated to be rolled out at the end of the year.

Fusionex is a subsidiary of Fusionex International Plc which is listed on the London Stock Exchange.

The partnership will also explore the potential of a jointly developed payment gateway integrated with a big data analytics platform for ManagePay and Fusionex's clients, ManagePay said.

ManagePay group managing director and chief executive officer Chew Chee Seng had said the collaboration with Fusionex will provide deeper insights to organisations that require big data analytics for customer spending patterns or product mix trends according to market or region.

ManagePay had said the partnership is in line with its business strategy to develop a new scalable business earnings stream.

It also allows ManagePay to jump start into a broader ecosystem in cashless transactions, under the e-payment initiatives set out by Bank Negara Malaysia.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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