KUALA LUMPUR: TFP Solutions Bhd (TSB) sees great potential for growth in digitalising the foreign workers community in Malaysia.
Non-executive director Datuk Hussian Rizal Abdul Rahman said this demographic presents significant opportunities for the group, mainly through the company’s innovative fintech solutions.
“TSB’s solutions are uniquely positioned to cater for the needs of foreign workers in Malaysia, offering them access to essential financial services and more,“ said Hussian.
“Our OneCALL mobile solution is a game-changer, integrating financial services with everyday mobile use to create a comprehensive lifestyle experience for users.”
He added that the company is firming up plans to enhance its service offerings.
These plans include expanding its OneCALL mobile solution, which provides an integrated platform for financial services such as e-wallets, remittance services, and bill payments.
Designed to cater to the underserved and B40 communities, OneCALL simplifies transactions and offers opportunities for passive income through value-added products.
The OneCALL Settle All app centralises bill payments, simplifying the process for those less familiar with online systems.
The solution also features a co-branded e-Wallet powered by MobilityOne eM-ONEi, which can function as a salary account, making it easier for foreign workers to send money back home securely.
Hussian is also the CEO of MobilityOne Ltd, listed on the AIM sub-market of the London Stock Exchange.
Hussian also plans to extend such offerings to provide loan facilities to foreign workers.
“We estimate there to be close to six million foreign workers in Malaysia, including those working and residing in Sabah and Sarawak.
“There could be times when foreign workers face financial challenges or emergencies that require immediate assistance. By providing accessible loan facilities, we aim to offer a safety net to help them navigate such situations.
“Our goal is to ensure that these workers have the financial tools and support to manage their lives effectively, contribute to the economy, and feel secure while working in Malaysia.”
Hussian added that the company is already optimising its financial services for Bangladeshi workers in Malaysia, potentially including tasks such as passport renewals.
Looking ahead, TSB also plans to expand its fintech solutions to include insurance services, further enhancing the group’s value to the foreign worker community.
“Talks are already underway for TSB to acquire an insurance company, and once finalised, we will make the necessary announcements,” said Hussian.
“This move aligns with our broader mission to deliver innovative, user-centric financial solutions that drive financial inclusion and improve the quality of life for the foreign worker community – as well as Malaysians from all walks of life,” he added.
In a Bursa announcement last July, the company disclosed that Hussian’s spouse, Datin Sri Eugena Braganza, has been appointed as TSB’s executive director.
Separately, it was also disclosed that Derrick Chia Kah Wai has emerged as a substantial shareholder in TSB with a 5.34% stake via a private placement acquisition of some 33 million TSB shares.
Chia is currently MobilityOne deputy CEO. Previously, he was with GHL Systems Bhd (GHLS).
