Green Packet to Buy 75% Stake in Fintech Firm for MYR10 Million

MT Newswires Live

Mar 09

Green Packet (KLSE:GPACKET) will acquire a 75% equity stake in fintech firm A Tech Insure for 10 million ringgit in cash.

The company will purchase 3.8 million shares from several vendors, according to a Monday filing with Bursa Malaysia.

A Tech, incorporated in 2020, operates the MyEzyCover.com digital platform that allows Malaysian customers, including civil servants, to buy motor vehicle takaful coverage and is also a licensed money lender.

Upon completion, A Tech will become a unit of Green Packet, which will hold 75%, while Mamita Global Resources will retain the remaining 25% stake.

The deal is expected to be completed by the fourth quarter of the financial year ending June 30, subject to regulatory approvals and other conditions.

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