KUALA LUMPUR: Theta Edge Bhd (TEB) has appointed Wepay System Sdn Bhd (WSSB) as its international technology partner to develop a multi-functional digital platform in Malaysia.
TEB group chief executive officer Nuraslina Zainal Abidin said the collaboration would enable a joint effort between the parties by utilising each company's resources to drive the digitalisation of various industry segments in Malaysia.
"The readiness of the technology platform will also allow TEB to collaborate and connect with many applications to enable users to have a one-stop shop for all their needs.
"TEB's immediate focus is to transform mobility into a pleasant experience with a Mobility-as-a-Service (MaaS) digital platform that essentially provides real-time information to enable travellers to monitor, plan, book, and pay for multiple mobility services (which include all modes of public transport and other transit operators) on an open payment system.
"This will allow travellers to access and connect via a single platform to all available transport options.
"The MaaS digital platform will also incorporate e-commerce and e-finance applications to connect travellers and users to other services," she said in a statement.
Nuraslina said TEB had secured WSSB's commitment to invest in the project through Haitong International Securities Co Ltd (HIS), WSSB's lead global coordinator and lead joint bookrunner, to raise RM700 million through foreign direct investment (FDI) to finance the project.
From that amount, RM400 million will be allocated to finance the development and implementation of the MaaS digital platform.
Further, RM300 million will be allocated to finance the mobility infrastructure enhancement to improve the physical and non-physical infrastructure to support mobility, especially in providing last-mile connectivity and making mobility from the point-of-presence to the point-of-destination far more efficient for the comfort of users.
WSSB chairman Datuk Md Zubir Ansori Yahaya said the collaboration between HIS and WSSB will augur well for Malaysia in driving digital transformation and contributing to the local talent development in new technology innovation.
HIS is among the oldest large-sized securities companies in Hong Kong, with total assets of RMB754 billion and a global financial servicing network across 15 countries on five continents, including New York, London, Hong Kong, Shanghai, Singapore, and Tokyo.
"We are honored to be given this opportunity to work hand-in-hand with TEB, a member of Lembaga Tabung Haji. With this, we hope to bring advanced technologies for Theta to build, innovate, and develop meaningful and real-world solutions that will drive the nation's agenda," Md Zubir said.
Nuraslina said the appointment of WSSB marks TEB's humble beginning in embracing environmental and sustainability-driven business goals.
"MaaS is one of our initiatives in moving our business towards areas that will help cities and urbanites reduce their carbon footprint, and we will progressively help reduce carbon footprints in other eco-system segments.
"I am convinced that the digital platform collaboration will enable us to overcome the challenges of meeting our objectives," she said.
