10
GHL Systems Berhad
(293040-D)
chairman’s
statement
2014 marks the completion of several key events, one of
which was the emergence of a substantial shareholder,
Cycas, a private equity fund which acquired a 20%
private placement issued by our group in conjunction
with acquisition of e-pay Asia Limited.
I would also like to take this opportunity to thank Ms.
Goh Kuan Ho who has resigned from your Board as an
Independent Non-Executive Director in March 2015.
Ms. Goh has served in various capacities within the GHL
group since 1991, and was a director on the board over
the past 12 years. I would also like to thank Mr. Ng King
Kau for his services as Executive Director, who has been
redesignated Non-Independent Non-Executive Director
remains a board member.
Other than those changes mentioned above, the board
remained unchanged under the leadership of Executive
Vice Chairman, Mr. Loh Wee Hian and myself. I would
like to congratulate the board, management and staff
for continuing to build on the efforts and strategies put in
place to bring the GHL Group to greater heights and a
growing force in ASEAN.
industrY trend and developments
Throughout ASEAN, Central Banks are striving to displace
cash retail payments with electronic payments.
In Malaysia, Bank Negara, through its payment reforms
has required banks to increase the number of EDC
terminals deployed to 800,000 by 2020 from 230,000
today.
Such initiatives are congruent with GHL Group’s
objective of becoming the largest ASEAN
merchant acquirer.
Dear shareholders,
I am pleased to once again present
GHL SYSTEMS BERHAD’s Annual
Report and Financial Statements for
the 12 months ended 31 December
2014.
