Tang Vee Mun lifts Revenue IF stake to 5.012%
The electronic payments company is pursuing overseas growth through partnerships with WeSure and Assets Singularity Technology Holding Limited.
An open-market acquisition of 2.263 million Revenue IF Bhd shares on Oct 30, 2026, made Datuk Michael Tang Vee Mun a substantial shareholder. His investment in the electronic payments business now amounts to 30.33 million shares, or 5.012%.
Revenue IF, which previously operated as Revenue Group Bhd, has formed two partnerships aimed at extending its payments and digital financial services operations beyond Malaysia.
Its collaboration with China's WeSure covers digital insurance and cross-border payments across Malaysia, Singapore, Indonesia and Thailand. Plans include linking the partners' systems for processing payments and handling clearing and settlement, covering insurance premiums and claim disbursements.
A separate partnership with Assets Singularity Technology Holding Limited (ATT) seeks to take Revenue IF's services into markets already served by ATT. Potential areas of collaboration include renminbi bonds issued overseas, digital wallets, co-branded cards, currency conversion and cross-border remittances. The partners will also examine tokenisation involving merchant receivables and loyalty points, and joint customer development.
Losses have marked Revenue IF's last two financial years. The company reported RM7.49 million in net losses for the nine-month period ending June 30, 2026. It intends to shift its financial year-end to March 31, 2027, rather than Sep 30, 2026.
At the midday trading break on Nov 4, Revenue IF shares were 6.25% higher at 8.5 sen, putting its market value at RM51.4 million. The stock's year-to-date gain stood at 70%.
