PDB To Reply To Bursa's Show-cause Notice With Strong Growth Prospects
KUALA LUMPUR, March 10 (Bernama) -- Pertama Digital Bhd (PDB) has undergone substantial progress in recent months, from securing key funding to executing strategic acquisitions and collaborations that position the company for long-term growth.
As a result, the company will submit its response to the show-cause notice issued by Bursa Malaysia Bhd (Bursa Securities) regarding its regularisation plan in the coming days, PDB said in a statement today.
“PDB has made good progress in its restructuring initiatives, and there have been significant developments over the past two to three months which have reinforced its strength, stability, and strategic direction,” it said.
As such, group chief executive officer designate Lim Nasrul Halim expressed confidence that these advancements will support the group’s appeal, demonstrating its commitment to regulatory compliance, operational excellence, and shareholder value creation.
Explaining its plan further, PDB said it is set to finalise the acquisition of a leading Singapore-based technology company in the following week, expanding its capabilities in monitoring and safety solutions to address critical infrastructure needs within Malaysia’s rapidly evolving digital landscape.
“At the same time, PDB has secured a major RM150 million funding round, led by MyPay Capital Sdn Bhd, reinforcing its financial resilience and enabling the company to execute strategic initiatives with confidence and stability.
“These milestones reflect the company’s unwavering commitment to innovation, partnerships, and digital empowerment as it continues expanding its suite of digital solutions and forging strong collaborations to accelerate Malaysia’s digital evolution,” it said.
According to the statement, PDB has built on its own products, stemming from the six-year success of operations of eJamin, which has processed over RM1 billion in financial transactions.
“Hinged on eJamin, PDB is now at the cusp of launching a neo banking service, in collaboration with local banking partners providing banking as a service in products such as ‘BizKecil’, empowering small traders, and another called ‘Kocek’, designed to enable school children, especially in underserved areas, to learn financial literacy in an engaging savings programme with another banking partner,” it said.
PDB said it has also secured an exclusive collaboration with a global leader in communications platform as a service for the public sector, significantly enhancing the country’s public sector’s ability to engage with citizens through seamless, secure, and real-time communication.
This collaboration would bring world-class capabilities to Malaysia, leveraging the same technology that powers mission-critical services for TikTok and Uber, ensuring a resilient and scalable communication framework for national public services.
It said this exclusive arrangement would further strengthen its strategic reach, aligning with a global company with a presence in 120 countries worldwide.
“The foundation we have built ensures that we are not only financially robust and resilient but also well-positioned to continue executing our vision," said Lim Nasrul.
PDB has reassured its shareholders, partners, and employees that business operations remain uninterrupted, and all ongoing projects and initiatives are progressing as planned.
The digital solutions provider on Friday said it received a show-cause notice from Bursa Securities about the company’s failure to submit its regularisation plan within the stipulated timeframe of Feb 9, 2025.
In a filing, PDB said the bourse regulator issued the notice after rejecting the request made by the company last month for a further extension of time until Feb 9, 2026, to submit the regularisation plan.
The company has been given a notice to make written representations supported by documentary evidence to Bursa Securities within five market days from the notice date, or before March 14, 2025, on why a suspension should not be imposed on the company and why it should not be de-listed from the Official List of Bursa Securities.
-- BERNAMA