15 GHL SYSTEMS BERHAD 199401007361 (293040-D) ANNUAL REPORT 2021 3. PERFORMANCE BY BUSINESS SEGMENT AND GEOGRAPHY (Cont’d) 3.2 Performance by Geographical Location (Cont’d) Philippines’ revenue was 7.4% YoY higher at RM48.1 million (2020 – RM44.8 million) driven by better TPA performance but dragged by lower Shared Services due to lower rental/maintenance revenue collected with Solutions Services registered a flat performance. The lockdown situation in the Philippines remained tight but with daily cases trending down and vaccination rate improving. Thailand recorded a decline in revenue of 16.9% to RM18.2 million from RM21.9 million in FY2020 dragged by lower TPA transactions due to COVID-19 lockdown and lower Solutions Services revenue resulted from higher hardware sales captured in the second half of 2020 which were not repeated in 2021. However, in 2021, Shared Services recorded better EDC hardware sales which were deferred from previous year. The TPA segment continued to be affected by the contraction due to the border closures which impacted tourist arrivals and hence the group’s cross border e-wallet segment. Other countries remain the smallest contributor to group operations at RM1.5 million of group turnover compared to F2020’s turnover of RM1.6 million. As at end of December 2021, the group’s payment touchpoints stood at 398,024 points, a 3.8% YoY growth overall whereas TPA touchpoints grew 16.9% but this was negated by the rental terminal retrievals by certain banks. This large merchant touchpoint base has enabled the group to process a TPV of RM23.2 billion in payment transactions (18.7% YoY growth). Revenue By Country (RM mil) 0 50 100 150 200 300 250 350 400 334.5 360.2 44.8 48.1 2020 2021 21.9 18.2 1.6 1.5 Philippines Thailand Others Group Malaysia 266.2 292.4 MANAGEMENT DISCUSSION AND ANALYSIS CONT’D
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