PUC share price up on active trade on approval to issue e-money

PETALING JAYA: PUC Bhd's share price rose 3.57% this morning after getting approval from Bank Negara Malaysia (BNM) to issue electronic money (e-money) via its mobile application yesterday.
As at 11.19am, PUC share price stood at 14.5 sen. It was the third most actively traded counter, with some 77.8 million shares changing hands. It has a market capitalisation of RM186.4 million.
PUC told the stock exchange yesterday that its unit EPP Solution Sdn Bhd (EPP) is required to launch its e-money scheme within one year from the date of BNM's approval letter.
E-money is a payment instrument that contains monetary value that is paid in advance by the user to the e-money issuer. E-money user can make payments for purchases of goods and services to merchants who accept the e-money as payment.